Maryland State Retirement & Pension System Acquires 1,064 Shares of New Jersey Resources Co. (NYSE:NJR)

Maryland State Retirement & Pension System increased its holdings in New Jersey Resources Co. (NYSE:NJR) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 82,019 shares of the utilities provider’s stock after buying an additional 1,064 shares during the quarter. Maryland State Retirement & Pension System’s holdings in New Jersey Resources were worth $3,656,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. New York State Common Retirement Fund raised its holdings in New Jersey Resources by 0.6% in the 3rd quarter. New York State Common Retirement Fund now owns 39,224 shares of the utilities provider’s stock worth $1,594,000 after purchasing an additional 242 shares during the period. Arkadios Wealth Advisors lifted its position in shares of New Jersey Resources by 2.3% during the 4th quarter. Arkadios Wealth Advisors now owns 11,765 shares of the utilities provider’s stock valued at $524,000 after buying an additional 265 shares in the last quarter. ICW Investment Advisors LLC raised its holdings in shares of New Jersey Resources by 1.8% during the 4th quarter. ICW Investment Advisors LLC now owns 16,850 shares of the utilities provider’s stock worth $751,000 after acquiring an additional 305 shares in the last quarter. 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 valued at $1,486,000 after purchasing an additional 342 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its position in New Jersey Resources by 1.3% in the third quarter. Jacobi Capital Management LLC now owns 27,937 shares of the utilities provider’s stock worth $1,135,000 after purchasing an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

New Jersey Resources Trading Up 0.2 %

NJR stock traded up $0.11 during midday trading on Tuesday, reaching $44.86. The company’s stock had a trading volume of 387,781 shares, compared to its average volume of 502,673. New Jersey Resources Co. has a 1 year low of $38.92 and a 1 year high of $51.15. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 18.34 and a beta of 0.62. The stock has a fifty day simple moving average of $42.60 and a two-hundred day simple moving average of $42.62. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.47 and a current ratio of 0.70.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.15). The company had revenue of $467.20 million during the quarter, compared to analysts’ expectations of $812.66 million. New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The company’s quarterly revenue was down 35.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. On average, equities research analysts predict that New Jersey Resources Co. will post 2.94 EPS for the current year.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Wednesday, June 12th will be issued 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 yield of 3.74%. New Jersey Resources’s payout ratio is currently 68.85%.

Analyst Ratings Changes

Several brokerages have recently issued reports on NJR. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Mizuho cut their price target on shares of New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, February 5th.

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.