Jackson Creek Investment Advisors LLC Purchases New Position in New Jersey Resources Co. (NYSE:NJR)

Jackson Creek Investment Advisors LLC bought a new stake in shares of New Jersey Resources Co. (NYSE:NJR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,979 shares of the utilities provider’s stock, valued at approximately $935,000.

Several other institutional investors have also bought and sold shares of the business. New York State Common Retirement Fund increased its position in shares of New Jersey Resources by 0.6% during the 3rd quarter. New York State Common Retirement Fund now owns 39,224 shares of the utilities provider’s stock valued at $1,594,000 after purchasing an additional 242 shares during the last quarter. Arkadios Wealth Advisors increased its position in New Jersey Resources by 2.3% during the fourth quarter. Arkadios Wealth Advisors now owns 11,765 shares of the utilities provider’s stock valued at $524,000 after acquiring an additional 265 shares during the last quarter. Good Life Advisors LLC raised its stake in shares of New Jersey Resources by 1.0% in the fourth quarter. Good Life Advisors LLC now owns 33,337 shares of the utilities provider’s stock valued at $1,486,000 after acquiring an additional 342 shares during the period. Jacobi Capital Management LLC lifted its holdings in shares of New Jersey Resources by 1.3% in the 3rd quarter. Jacobi Capital Management LLC now owns 27,937 shares of the utilities provider’s stock worth $1,135,000 after acquiring an additional 371 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of New Jersey Resources by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 122,191 shares of the utilities provider’s stock worth $5,447,000 after acquiring an additional 373 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on NJR shares. Mizuho reduced their price objective 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. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th.

New Jersey Resources Stock Up 0.5 %

Shares of NJR opened at $43.69 on Wednesday. The firm has a market capitalization of $4.29 billion, a P/E ratio of 17.91 and a beta of 0.64. New Jersey Resources Co. has a 12-month low of $38.92 and a 12-month high of $52.93. The firm has a fifty day moving average price of $42.36 and a 200-day moving average price of $42.57. 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 (NYSE:NJR) last released its quarterly earnings data 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). The company had revenue of $467.20 million during 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% on a year-over-year basis. During the same period last year, the firm earned $1.14 earnings per share. Equities research analysts expect that New Jersey Resources Co. will post 2.94 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Wednesday, June 12th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $1.68 annualized dividend and a yield of 3.85%. New Jersey Resources’s 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.