BNP Paribas Financial Markets Reduces Holdings in New Jersey Resources Co. (NYSE:NJR)

BNP Paribas Financial Markets decreased its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 18.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 39,801 shares of the utilities provider’s stock after selling 8,823 shares during the period. BNP Paribas Financial Markets’ holdings in New Jersey Resources were worth $1,857,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NJR. Barclays PLC grew its stake in shares of New Jersey Resources by 140.0% during the third quarter. Barclays PLC now owns 189,827 shares of the utilities provider’s stock worth $8,959,000 after acquiring an additional 110,723 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in New Jersey Resources by 18.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 39,514 shares of the utilities provider’s stock valued at $1,843,000 after buying an additional 6,250 shares during the last quarter. Hennessy Advisors Inc. boosted its position in New Jersey Resources by 3.1% in the fourth quarter. Hennessy Advisors Inc. now owns 127,634 shares of the utilities provider’s stock valued at $5,954,000 after buying an additional 3,800 shares during the last quarter. UMB Bank n.a. boosted its position in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after buying an additional 345 shares during the last quarter. Finally, Atwood & Palmer Inc. purchased a new stake in New Jersey Resources in the fourth quarter valued at approximately $125,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Transactions at New Jersey Resources

In related news, CFO Roberto Bel sold 2,346 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $48.58, for a total value of $113,968.68. Following the completion of the transaction, the chief financial officer now directly owns 23,822 shares of the company’s stock, valued at approximately $1,157,272.76. This represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

New Jersey Resources Trading Up 0.7%

New Jersey Resources stock opened at $46.56 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a 12 month low of $41.58 and a 12 month high of $51.95. The stock’s 50 day simple moving average is $48.42 and its two-hundred day simple moving average is $47.81. The firm has a market cap of $4.67 billion, a PE ratio of 14.02 and a beta of 0.66.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.76 EPS for the quarter, topping the consensus estimate of $1.65 by $0.11. The business had revenue of $913.03 million for the quarter, compared to analyst estimates of $732.00 million. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. The business’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. Analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Tuesday, June 10th. New Jersey Resources’s payout ratio is 43.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NJR shares. Wells Fargo & Company upped their target price on New Jersey Resources from $51.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. Jefferies Financial Group started coverage on New Jersey Resources in a research report on Tuesday, April 1st. They issued a “hold” rating and a $51.00 target price on the stock. New Street Research set a $51.00 target price on New Jersey Resources in a research report on Tuesday, April 1st. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Mizuho lowered their price objective on New Jersey Resources from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.83.

New Jersey Resources 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.