FNY Investment Advisers LLC Boosts Stock Position in New Jersey Resources Co. (NYSE:NJR)

FNY Investment Advisers LLC raised its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 2,500.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,400 shares of the utilities provider’s stock after buying an additional 10,000 shares during the quarter. FNY Investment Advisers LLC’s holdings in New Jersey Resources were worth $485,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. FSA Wealth Management LLC bought a new stake in shares of New Jersey Resources in the 3rd quarter worth $27,000. V Square Quantitative Management LLC bought a new position in shares of New Jersey Resources in the 3rd quarter worth approximately $27,000. Versant Capital Management Inc raised its position in New Jersey Resources by 9,400.0% in the fourth quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 658 shares during the period. Van ECK Associates Corp purchased a new position in New Jersey Resources during the third quarter valued at $52,000. Finally, Spirit of America Management Corp NY grew its stake in shares of New Jersey Resources by 140.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock valued at $57,000 after acquiring an additional 700 shares during the period. 70.98% of the stock is owned by institutional investors.

New Jersey Resources Stock Up 0.9 %

Shares of NJR stock opened at $45.65 on Tuesday. New Jersey Resources Co. has a 52 week low of $39.44 and a 52 week high of $51.94. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. The company’s fifty day simple moving average is $47.87 and its two-hundred day simple moving average is $46.48. The stock has a market cap of $4.55 billion, a P/E ratio of 15.63 and a beta of 0.64.

New Jersey Resources (NYSE:NJR) last posted its earnings results on Monday, November 25th. The utilities provider reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. The firm had revenue of $395.78 million during the quarter, compared to the consensus estimate of $406.97 million. New Jersey Resources had a return on equity of 13.54% and a net margin of 16.13%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. Analysts predict that New Jersey Resources Co. will post 3.1 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Wednesday, December 11th. New Jersey Resources’s dividend payout ratio is 61.64%.

Insider Activity at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the sale, the chief operating officer now owns 37,124 shares in the company, valued at approximately $1,707,704. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Guggenheim lifted their price target on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. upgraded shares of New Jersey Resources from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $52.00 to $54.00 in a research note on Thursday, December 12th. Wells Fargo & Company increased their price target on New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. StockNews.com cut New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Mizuho lifted their target price on New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.00.

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.