International Assets Investment Management LLC Has $4.20 Million Position in New Jersey Resources Co. (NYSE:NJR)

International Assets Investment Management LLC increased its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 4,358.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 94,108 shares of the utilities provider’s stock after acquiring an additional 91,997 shares during the quarter. International Assets Investment Management LLC’s holdings in New Jersey Resources were worth $4,195,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of New Jersey Resources by 3.3% during the third quarter. Vanguard Group Inc. now owns 11,564,868 shares of the utilities provider’s stock worth $469,881,000 after purchasing an additional 373,802 shares during the period. California Public Employees Retirement System lifted its holdings in New Jersey Resources by 12.2% during the 3rd quarter. California Public Employees Retirement System now owns 481,190 shares of the utilities provider’s stock worth $19,551,000 after buying an additional 52,405 shares during the period. Principal Financial Group Inc. grew its position in shares of New Jersey Resources by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 387,114 shares of the utilities provider’s stock valued at $15,728,000 after buying an additional 4,619 shares during the last quarter. Rhumbline Advisers increased its stake in shares of New Jersey Resources by 1.3% in the third quarter. Rhumbline Advisers now owns 347,681 shares of the utilities provider’s stock valued at $14,126,000 after buying an additional 4,591 shares during the period. Finally, Swiss National Bank raised its position in shares of New Jersey Resources by 1.0% during the third quarter. Swiss National Bank now owns 213,200 shares of the utilities provider’s stock worth $8,662,000 after acquiring an additional 2,200 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com cut New Jersey Resources from a “hold” rating to a “sell” rating in a report on Wednesday. Mizuho dropped 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 research report on Monday, February 5th.

New Jersey Resources Stock Performance

NJR stock opened at $44.20 on Thursday. New Jersey Resources Co. has a 1-year low of $38.92 and a 1-year high of $50.72. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average price of $42.72 and a 200-day moving average price of $42.65. The firm has a market cap of $4.35 billion, a PE ratio of 18.11 and a beta of 0.62.

New Jersey Resources (NYSE:NJR) last issued 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). The business had revenue of $467.20 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 35.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, equities research analysts expect that New Jersey Resources Co. will post 2.94 earnings per share for the current year.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Wednesday, June 12th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.80%. New Jersey Resources’s dividend payout ratio is currently 68.85%.

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.