Franklin Resources Inc. Purchases 408 Shares of New Jersey Resources Co. (NYSE:NJR)

Franklin Resources Inc. raised its position in shares of New Jersey Resources Co. (NYSE:NJR) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,953 shares of the utilities provider’s stock after purchasing an additional 408 shares during the period. Franklin Resources Inc. owned about 0.12% of New Jersey Resources worth $5,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its position in New Jersey Resources by 91.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,061 shares of the utilities provider’s stock valued at $423,000 after purchasing an additional 4,333 shares in the last quarter. Pictet Asset Management Holding SA raised its position in New Jersey Resources by 17.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 19,663 shares of the utilities provider’s stock valued at $917,000 after purchasing an additional 2,916 shares in the last quarter. Norges Bank bought a new stake in New Jersey Resources during the 4th quarter valued at $73,124,000. JPMorgan Chase & Co. raised its position in New Jersey Resources by 12.2% during the 4th quarter. JPMorgan Chase & Co. now owns 683,557 shares of the utilities provider’s stock valued at $31,888,000 after purchasing an additional 74,358 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in New Jersey Resources during the 4th quarter valued at $425,000. 70.98% of the stock is owned by institutional investors.

New Jersey Resources Stock Up 1.4 %

Shares of NJR stock opened at $47.50 on Thursday. New Jersey Resources Co. has a 1-year low of $40.62 and a 1-year high of $51.95. The stock’s fifty day moving average price is $47.74 and its 200 day moving average price is $47.43. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 14.31 and a beta of 0.58.

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

New Jersey Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.79%. New Jersey Resources’s payout ratio is presently 54.22%.

Analyst Ratings Changes

NJR has been the subject of several recent research reports. New Street Research set a $51.00 price target on New Jersey Resources in a research report on Tuesday, April 1st. Guggenheim boosted their price target on New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price target on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group initiated coverage on New Jersey Resources in a research report on Tuesday, April 1st. They issued a “hold” rating and a $51.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $51.50.

Insider Buying and Selling at New Jersey Resources

In other New Jersey Resources news, CFO Roberto Bel sold 1,173 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $58,650.00. Following the sale, the chief financial officer now owns 22,649 shares in the company, valued at approximately $1,132,450. The trade was a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

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.