Quantbot Technologies LP Raises Stock Position in New Jersey Resources Co. (NYSE:NJR)

Quantbot Technologies LP raised its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 253.1% during the fourth quarter, Holdings Channel reports. The firm owned 74,875 shares of the utilities provider’s stock after buying an additional 53,667 shares during the quarter. Quantbot Technologies LP’s holdings in New Jersey Resources were worth $3,493,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Arizona State Retirement System increased its position in New Jersey Resources by 1.1% during the 4th quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider’s stock valued at $1,343,000 after purchasing an additional 325 shares during the period. Good Life Advisors LLC increased its position in New Jersey Resources by 1.0% during the 4th quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider’s stock valued at $1,616,000 after purchasing an additional 327 shares during the period. UMB Bank n.a. increased its position in New Jersey Resources by 69.8% during the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 345 shares during the period. Greenwood Capital Associates LLC increased its position in New Jersey Resources by 1.5% during the 4th quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider’s stock valued at $1,191,000 after purchasing an additional 383 shares during the period. Finally, GAMMA Investing LLC increased its position in New Jersey Resources by 23.6% during the 4th quarter. GAMMA Investing LLC now owns 2,288 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 437 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at New Jersey Resources

In other New Jersey Resources news, COO Patrick J. Migliaccio sold 4,983 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total transaction of $229,218.00. Following the transaction, the chief operating officer now owns 37,124 shares in the company, valued at approximately $1,707,704. This represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

New Jersey Resources Stock Performance

Shares of New Jersey Resources stock opened at $48.46 on Friday. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 14.59 and a beta of 0.57. The firm’s 50-day moving average is $47.40 and its 200 day moving average is $47.30. New Jersey Resources Co. has a 1 year low of $40.62 and a 1 year high of $51.95. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.15. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. During the same period in the previous year, the business posted $0.74 EPS. Sell-side analysts anticipate that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, March 11th. New Jersey Resources’s dividend payout ratio is currently 54.22%.

Analyst Ratings Changes

A number of analysts have recently weighed in on NJR shares. Guggenheim upped their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Wells Fargo & Company upped their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

About New Jersey Resources

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.