International Assets Investment Management LLC Grows Stake in New Jersey Resources Co. (NYSE:NJR)

International Assets Investment Management LLC raised its stake in New Jersey Resources Co. (NYSE:NJR) by 4,358.0% during the fourth quarter, HoldingsChannel reports. The fund owned 94,108 shares of the utilities provider’s stock after buying an additional 91,997 shares during the period. International Assets Investment Management LLC’s holdings in New Jersey Resources were worth $4,195,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of New Jersey Resources during the fourth quarter valued at $26,000. Quarry LP bought a new position in shares of New Jersey Resources during the second quarter valued at $38,000. Fifth Third Bancorp lifted its holdings in shares of New Jersey Resources by 68.0% during the third quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 412 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of New Jersey Resources by 2,500.0% during the third quarter. Farmers & Merchants Investments Inc. now owns 1,040 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of New Jersey Resources by 71.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 914 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 380 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

New Jersey Resources Stock Down 0.7 %

NJR stock opened at $41.28 on Wednesday. New Jersey Resources Co. has a fifty-two week low of $38.92 and a fifty-two week high of $54.00. The business’s 50-day moving average is $42.04 and its two-hundred day moving average is $42.44. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.47 and a current ratio of 0.70. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 16.92 and a beta of 0.64.

New Jersey Resources (NYSE:NJR) last posted its 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 net margin of 13.96% and a return on equity of 11.13%. The firm had revenue of $467.20 million during the quarter, compared to the consensus estimate of $812.66 million. During the same period in the prior year, the company posted $1.14 EPS. The firm’s revenue was down 35.4% compared to the same quarter last year. As a group, analysts forecast that New Jersey Resources Co. will post 2.94 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Wednesday, March 13th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.07%. The ex-dividend date was Tuesday, March 12th. New Jersey Resources’s dividend payout ratio (DPR) is currently 68.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Mizuho lowered their price target on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, February 5th.

About New Jersey Resources

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.