State of Alaska Department of Revenue Sells 1,110 Shares of New Jersey Resources Co. (NYSE:NJR)

State of Alaska Department of Revenue decreased its position in shares of New Jersey Resources Co. (NYSE:NJR) by 9.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,536 shares of the utilities provider’s stock after selling 1,110 shares during the period. State of Alaska Department of Revenue’s holdings in New Jersey Resources were worth $469,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Clear Harbor Asset Management LLC boosted its stake in shares of New Jersey Resources by 15.4% in the fourth quarter. Clear Harbor Asset Management LLC now owns 123,519 shares of the utilities provider’s stock worth $5,506,000 after acquiring an additional 16,486 shares during the period. Trueblood Wealth Management LLC purchased a new stake in New Jersey Resources during the 4th quarter valued at approximately $253,000. Good Life Advisors LLC raised its position in shares of New Jersey Resources by 1.0% during the fourth quarter. Good Life Advisors LLC now owns 33,337 shares of the utilities provider’s stock valued at $1,486,000 after buying an additional 342 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of New Jersey Resources by 152.8% in the fourth quarter. Pacer Advisors Inc. now owns 20,712 shares of the utilities provider’s stock worth $923,000 after buying an additional 12,519 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in New Jersey Resources by 33.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 38,273 shares of the utilities provider’s stock valued at $1,706,000 after acquiring an additional 9,589 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

New Jersey Resources Price Performance

NJR stock opened at $41.79 on Friday. The company has a fifty day simple moving average of $41.99 and a two-hundred day simple moving average of $42.41. New Jersey Resources Co. has a 52 week low of $38.92 and a 52 week high of $54.89. The company has a quick ratio of 0.47, a current ratio of 0.70 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $4.11 billion, a P/E ratio of 17.13 and a beta of 0.64.

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

New Jersey Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Wednesday, March 13th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.68 annualized dividend and a yield of 4.02%. New Jersey Resources’s payout ratio is presently 68.85%.

Analyst Ratings Changes

Several analysts have commented on NJR shares. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Mizuho dropped their price target on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating for the company in a research note 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.