Barclays PLC Grows Position in New Jersey Resources Co. (NYSE:NJR)

Barclays PLC grew its stake in New Jersey Resources Co. (NYSE:NJR) by 29.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,796 shares of the utilities provider’s stock after buying an additional 55,969 shares during the quarter. Barclays PLC owned approximately 0.25% of New Jersey Resources worth $11,466,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Roxbury Financial LLC bought a new stake in New Jersey Resources during the 4th quarter worth approximately $25,000. Versant Capital Management Inc raised its position in shares of New Jersey Resources by 9,400.0% during the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 658 shares during the period. UMB Bank n.a. lifted its stake in shares of 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 buying an additional 345 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in New Jersey Resources in the 4th quarter worth $42,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in New Jersey Resources in the 4th quarter worth $51,000. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other news, CFO Roberto Bel sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $48.58, for a total transaction of $113,968.68. Following the transaction, the chief financial officer now owns 23,822 shares of the company’s stock, valued at approximately $1,157,272.76. This represents a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

New Jersey Resources Stock Down 1.1 %

Shares of NYSE:NJR opened at $49.17 on Tuesday. The company has a 50-day moving average price of $48.11 and a 200 day moving average price of $47.56. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a 12 month low of $41.58 and a 12 month high of $51.95. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 14.81 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 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business posted $0.74 earnings per share. As a group, equities research analysts predict that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 annualized dividend and a yield of 3.66%. New Jersey Resources’s payout ratio is 54.22%.

Wall Street Analyst Weigh In

NJR has been the subject of several research analyst reports. New Street Research set a $51.00 target price on New Jersey Resources in a research report on Tuesday, April 1st. Jefferies Financial Group began coverage on shares of New Jersey Resources in a research report on Tuesday, April 1st. They set a “hold” rating and a $51.00 price objective on the stock. 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. JPMorgan Chase & Co. reduced their price target on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, New Jersey Resources presently has a consensus rating of “Hold” and a consensus target price of $51.50.

New Jersey Resources Profile

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.