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

International Assets Investment Management LLC raised its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 4,358.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,108 shares of the utilities provider’s stock after purchasing an additional 91,997 shares during the period. International Assets Investment Management LLC owned 0.10% of New Jersey Resources worth $4,195,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in New Jersey Resources in the 4th quarter valued at $26,000. Fifth Third Bancorp grew its holdings in 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 during the last quarter. Van ECK Associates Corp acquired a new position in shares of New Jersey Resources during the third quarter worth approximately $79,000. Sound Income Strategies LLC bought a new stake in shares of New Jersey Resources in the fourth quarter valued at approximately $164,000. Finally, TIAA Trust National Association acquired a new stake in shares of New Jersey Resources in the fourth quarter worth $207,000. Institutional investors own 70.98% of the company’s stock.

New Jersey Resources Trading Down 1.4 %

Shares of NJR stock opened at $44.20 on Thursday. The firm has a fifty day moving average of $42.72 and a 200-day moving average of $42.65. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 18.11 and a beta of 0.62. New Jersey Resources Co. has a 52-week low of $38.92 and a 52-week high of $50.72. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.47 and a current ratio of 0.70.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.15). New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The business had revenue of $467.20 million during the quarter, compared to analyst estimates of $812.66 million. During the same period last year, the company earned $1.14 EPS. The business’s revenue for the quarter was down 35.4% on a year-over-year basis. On average, equities research analysts forecast that New Jersey Resources Co. will post 2.94 earnings per share for the current fiscal year.

New Jersey Resources Announces Dividend

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

Analysts Set New Price Targets

NJR has been the subject of a number of research reports. StockNews.com downgraded shares of New Jersey Resources from a “hold” rating to a “sell” rating in a report on Wednesday. Mizuho lowered their price target 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.

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.