Jennison Associates LLC Boosts Stake in New Jersey Resources Co. (NYSE:NJR)

Jennison Associates LLC grew its holdings in shares of New Jersey Resources Co. (NYSE:NJRFree Report) by 1.3% in the first quarter, HoldingsChannel.com reports. The fund owned 40,132 shares of the utilities provider’s stock after purchasing an additional 511 shares during the period. Jennison Associates LLC’s holdings in New Jersey Resources were worth $1,722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arkadios Wealth Advisors lifted its stake in shares of New Jersey Resources by 2.3% in the 4th quarter. Arkadios Wealth Advisors now owns 11,765 shares of the utilities provider’s stock valued at $524,000 after acquiring an additional 265 shares during the last quarter. ICW Investment Advisors LLC boosted its stake in shares of New Jersey Resources by 1.8% during the fourth quarter. ICW Investment Advisors LLC now owns 16,850 shares of the utilities provider’s stock valued at $751,000 after purchasing an additional 305 shares during the period. Good Life Advisors LLC grew its holdings in shares of New Jersey Resources by 1.0% in the fourth quarter. Good Life Advisors LLC now owns 33,337 shares of the utilities provider’s stock worth $1,486,000 after purchasing an additional 342 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of New Jersey Resources by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 122,191 shares of the utilities provider’s stock worth $5,447,000 after buying an additional 373 shares during the period. Finally, QRG Capital Management Inc. boosted its position in New Jersey Resources by 7.0% during the 4th quarter. QRG Capital Management Inc. now owns 5,984 shares of the utilities provider’s stock valued at $267,000 after buying an additional 389 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

New Jersey Resources Stock Performance

Shares of NJR stock opened at $42.14 on Wednesday. The company’s 50-day moving average is $43.17 and its 200 day moving average is $42.73. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.56 and a current ratio of 0.70. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 16.66 and a beta of 0.60. New Jersey Resources Co. has a one year low of $38.92 and a one year high of $47.04.

New Jersey Resources (NYSE:NJRGet Free Report) last released its earnings results on Tuesday, May 7th. The utilities provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.08. New Jersey Resources had a net margin of 14.46% and a return on equity of 12.16%. The company had revenue of $657.91 million for the quarter, compared to analysts’ expectations of $669.64 million. Sell-side analysts expect that New Jersey Resources Co. will post 2.94 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Wednesday, June 12th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $1.68 dividend on an annualized basis and a yield of 3.99%. New Jersey Resources’s dividend payout ratio is currently 66.40%.

Analyst Ratings Changes

NJR has been the subject of a number of recent analyst reports. Argus upgraded New Jersey Resources to a “strong-buy” rating in a report on Monday, June 10th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.00.

Read Our Latest Stock Report on New Jersey Resources

Insiders Place Their Bets

In other New Jersey Resources news, CEO Stephen D. Westhoven sold 20,000 shares of New Jersey Resources stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $42.82, for a total value of $856,400.00. Following the sale, the chief executive officer now owns 198,705 shares of the company’s stock, valued at approximately $8,508,548.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

About New Jersey Resources

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding NJR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Jersey Resources Co. (NYSE:NJRFree Report).

Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

Receive News & Ratings for New Jersey Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Jersey Resources and related companies with MarketBeat.com's FREE daily email newsletter.