Holocene Advisors LP Acquires 10,946 Shares of New Jersey Resources Co. (NYSE:NJR)

Holocene Advisors LP raised its stake in New Jersey Resources Co. (NYSE:NJR) by 22.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,162 shares of the utilities provider’s stock after purchasing an additional 10,946 shares during the period. Holocene Advisors LP owned 0.06% of New Jersey Resources worth $2,840,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NJR. FSA Wealth Management LLC bought a new stake in shares of New Jersey Resources during the 3rd quarter worth about $27,000. V Square Quantitative Management LLC acquired a new position in shares of New Jersey Resources in the third quarter valued at approximately $27,000. Neo Ivy Capital Management bought a new position in shares of New Jersey Resources during the second quarter worth approximately $31,000. Van ECK Associates Corp acquired a new stake in New Jersey Resources during the 3rd quarter worth approximately $52,000. Finally, Spirit of America Management Corp NY boosted its stake in New Jersey Resources by 140.0% in the 3rd quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock valued at $57,000 after purchasing an additional 700 shares during the period. 70.98% of the stock is owned by institutional investors.

New Jersey Resources Price Performance

NJR stock opened at $49.79 on Friday. The company’s 50-day moving average price is $47.54 and its two-hundred day moving average price is $45.69. New Jersey Resources Co. has a 12 month low of $39.44 and a 12 month high of $51.94. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. The firm has a market cap of $4.97 billion, a P/E ratio of 17.05 and a beta of 0.63.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, November 25th. The utilities provider reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. The business had revenue of $395.78 million during the quarter, compared to the consensus estimate of $406.97 million. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. On average, analysts anticipate that New Jersey Resources Co. will post 3.05 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio (DPR) is presently 61.64%.

Wall Street Analysts Forecast Growth

NJR has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Mizuho lifted their price objective on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Guggenheim increased their target price on shares of New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lifted their price target on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Finally, StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.75.

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.