Fortitude Family Office LLC Acquires New Holdings in New Jersey Resources Co. (NYSE:NJR)

Fortitude Family Office LLC acquired a new position in New Jersey Resources Co. (NYSE:NJRFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 592 shares of the utilities provider’s stock, valued at approximately $26,000.

Other hedge funds also recently bought and sold shares of the company. Quarry LP bought a new position in shares of New Jersey Resources in the 2nd quarter worth $38,000. Intrepid Capital Management Inc. bought a new position in New Jersey Resources in the second quarter worth about $43,000. Northwestern Mutual Wealth Management Co. lifted its position 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 buying an additional 380 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of New Jersey Resources by 68.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock valued at $41,000 after buying an additional 412 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its position in shares of New Jersey Resources by 2,500.0% in 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 during the last quarter. Hedge funds and other institutional investors own 73.08% of the company’s stock.

New Jersey Resources Stock Up 0.6 %

NYSE:NJR opened at $42.05 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 1.33. New Jersey Resources Co. has a twelve month low of $38.92 and a twelve month high of $55.84. The company has a market cap of $4.13 billion, a PE ratio of 17.23, a P/E/G ratio of 2.38 and a beta of 0.63. The company’s 50 day moving average is $41.78 and its two-hundred day moving average is $42.42.

New Jersey Resources (NYSE:NJRGet Free Report) last announced its quarterly earnings data 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 company had revenue of $467.20 million for 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%. New Jersey Resources’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same period last year, the firm earned $1.14 earnings per share. Analysts anticipate that New Jersey Resources Co. will post 2.94 EPS for the current year.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Wednesday, March 13th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Tuesday, March 12th. New Jersey Resources’s payout ratio is 68.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in 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 lowered their price objective on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, February 5th.

Read Our Latest Analysis on New Jersey Resources

New Jersey Resources Profile

(Free Report)

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.

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Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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