Mutual of America Capital Management LLC Lowers Stake in New Jersey Resources Co. (NYSE:NJR)

Mutual of America Capital Management LLC lowered its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 4.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 60,279 shares of the utilities provider’s stock after selling 3,133 shares during the period. Mutual of America Capital Management LLC’s holdings in New Jersey Resources were worth $2,687,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in shares of New Jersey Resources during the 4th quarter worth approximately $26,000. Quarry LP acquired a new stake in New Jersey Resources during the 2nd quarter worth approximately $38,000. Fifth Third Bancorp lifted its holdings in New Jersey Resources by 68.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock worth $41,000 after buying an additional 412 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in New Jersey Resources by 2,500.0% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 1,040 shares of the utilities provider’s stock worth $42,000 after buying an additional 1,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in New Jersey Resources by 71.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 914 shares of the utilities provider’s stock worth $45,000 after buying an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

New Jersey Resources Trading Up 1.6 %

NYSE NJR opened at $42.20 on Friday. 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’s fifty day moving average price is $42.08 and its 200 day moving average price is $42.43. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 17.30 and a beta of 0.64. New Jersey Resources Co. has a 12 month low of $38.92 and a 12 month high of $53.90.

New Jersey Resources (NYSE:NJR) last posted its 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). The company had revenue of $467.20 million during the quarter, compared to analysts’ expectations of $812.66 million. New Jersey Resources had a net margin of 13.96% and a return on equity of 11.13%. The company’s quarterly revenue was down 35.4% on a year-over-year basis. During the same period last year, the business earned $1.14 earnings per share. On average, sell-side analysts expect that New Jersey Resources Co. will post 2.94 earnings per share for the current fiscal year.

New Jersey Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Wednesday, March 13th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend was Tuesday, March 12th. New Jersey Resources’s payout ratio is currently 68.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NJR shares. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Mizuho dropped their target price on shares of 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.

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.