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

International Assets Investment Management LLC boosted its holdings in New Jersey Resources Co. (NYSE:NJR) by 4,358.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,108 shares of the utilities provider’s stock after purchasing an additional 91,997 shares during the quarter. International Assets Investment Management LLC owned about 0.10% of New Jersey Resources worth $4,195,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in New Jersey Resources in the 4th quarter valued at $26,000. Quarry LP bought a new position in New Jersey Resources during the 2nd quarter valued at $38,000. Northwestern Mutual Wealth Management Co. lifted its stake 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 valued at $45,000 after acquiring an additional 380 shares in the last quarter. Fifth Third Bancorp lifted its stake 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 valued at $41,000 after acquiring an additional 412 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its stake 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 valued at $42,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Mizuho dropped their price objective on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, February 5th. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th.

New Jersey Resources Trading Down 0.7 %

NYSE NJR opened at $41.28 on Wednesday. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 16.92 and a beta of 0.64. New Jersey Resources Co. has a one year low of $38.92 and a one year high of $54.00. 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 business’s fifty day moving average is $42.04 and its 200-day moving average is $42.44.

New Jersey Resources (NYSE:NJR) last released 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 business had revenue of $467.20 million for 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Equities research analysts predict that New Jersey Resources Co. will post 2.94 EPS for the current year.

New Jersey Resources Dividend Announcement

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

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.