Jackson Creek Investment Advisors LLC Acquires Shares of 20,979 New Jersey Resources Co. (NYSE:NJR)

Jackson Creek Investment Advisors LLC bought a new position in shares of New Jersey Resources Co. (NYSE:NJR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,979 shares of the utilities provider’s stock, valued at approximately $935,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of New Jersey Resources by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,564,868 shares of the utilities provider’s stock valued at $469,881,000 after buying an additional 373,802 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of New Jersey Resources by 876.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 114,858 shares of the utilities provider’s stock valued at $4,667,000 after purchasing an additional 103,090 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of New Jersey Resources by 4,358.0% in the fourth quarter. International Assets Investment Management LLC now owns 94,108 shares of the utilities provider’s stock valued at $4,195,000 after purchasing an additional 91,997 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of New Jersey Resources during the 3rd quarter valued at approximately $3,212,000. Finally, UBS Group AG increased its stake in New Jersey Resources by 149.4% in the 3rd quarter. UBS Group AG now owns 121,182 shares of the utilities provider’s stock valued at $4,924,000 after purchasing an additional 72,585 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on NJR. Mizuho decreased their target price on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, February 5th. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th.

New Jersey Resources Trading Up 0.5 %

Shares of NJR opened at $43.69 on Wednesday. New Jersey Resources Co. has a 1-year low of $38.92 and a 1-year high of $52.93. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.70 and a quick ratio of 0.47. The firm has a 50 day simple moving average of $42.36 and a 200-day simple moving average of $42.57. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 17.91 and a beta of 0.64.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The company had revenue of $467.20 million during the quarter, compared to analyst estimates of $812.66 million. During the same period last year, the firm earned $1.14 earnings per share. The business’s revenue was down 35.4% compared to the same quarter last year. Equities analysts forecast that New Jersey Resources Co. will post 2.94 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Wednesday, June 12th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.85%. New Jersey Resources’s dividend payout ratio is currently 68.85%.

New Jersey Resources Company 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.