Dynamic Technology Lab Private Ltd Sells 8,243 Shares of New Jersey Resources Co. (NYSE:NJR)

Dynamic Technology Lab Private Ltd cut its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 26.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,403 shares of the utilities provider’s stock after selling 8,243 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in New Jersey Resources were worth $1,092,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in New Jersey Resources by 30.3% during the third quarter. BNP Paribas Financial Markets now owns 48,624 shares of the utilities provider’s stock worth $2,295,000 after acquiring an additional 11,319 shares in the last quarter. Captrust Financial Advisors increased its position in shares of New Jersey Resources by 4.4% during the 3rd quarter. Captrust Financial Advisors now owns 15,639 shares of the utilities provider’s stock worth $738,000 after purchasing an additional 652 shares during the last quarter. Centiva Capital LP bought a new stake in shares of New Jersey Resources during the 3rd quarter worth approximately $554,000. Hilltop Holdings Inc. acquired a new stake in shares of New Jersey Resources in the 3rd quarter valued at approximately $216,000. Finally, Point72 Asset Management L.P. bought a new position in shares of New Jersey Resources in the third quarter valued at $8,590,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

New Jersey Resources Price Performance

Shares of NYSE NJR opened at $47.86 on Friday. The firm has a market cap of $4.80 billion, a P/E ratio of 14.42 and a beta of 0.58. The business’s 50 day moving average is $47.79 and its 200-day moving average is $47.44. 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 1-year low of $40.62 and a 1-year high of $51.95.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same quarter in the previous year, the business posted $0.74 EPS. Equities research analysts predict 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 was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.76%. New Jersey Resources’s dividend payout ratio is presently 54.22%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of New Jersey Resources in a research note on Tuesday, April 1st. They issued a “hold” rating and a $51.00 price target for the company. Guggenheim lifted their price target on New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, New Jersey Resources currently has an average rating of “Hold” and an average price target of $51.60.

Insider Activity

In related news, CFO Roberto Bel sold 1,173 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $50.00, for a total value of $58,650.00. Following the transaction, the chief financial officer now owns 22,649 shares in the company, valued at approximately $1,132,450. This trade represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by company insiders.

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.