Sciencast Management LP Sells 20,405 Shares of New Jersey Resources Co. (NYSE:NJR)

Sciencast Management LP lowered its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 81.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,690 shares of the utilities provider’s stock after selling 20,405 shares during the quarter. Sciencast Management LP’s holdings in New Jersey Resources were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Arizona State Retirement System raised its holdings in shares of New Jersey Resources by 1.1% during the 4th quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider’s stock valued at $1,343,000 after purchasing an additional 325 shares in the last quarter. Good Life Advisors LLC raised its holdings in New Jersey Resources by 1.0% in the 4th quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider’s stock worth $1,616,000 after acquiring an additional 327 shares during the period. UMB Bank n.a. raised its holdings in New Jersey Resources by 69.8% in the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 345 shares during the period. Greenwood Capital Associates LLC raised its holdings in New Jersey Resources by 1.5% in the 4th quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider’s stock worth $1,191,000 after acquiring an additional 383 shares during the period. Finally, GAMMA Investing LLC raised its holdings in New Jersey Resources by 23.6% in the 4th quarter. GAMMA Investing LLC now owns 2,288 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 437 shares during the period. Institutional investors own 70.98% of the company’s stock.

New Jersey Resources Stock Performance

NYSE NJR opened at $48.46 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 14.59 and a beta of 0.57. The company’s fifty day moving average is $47.40 and its two-hundred day moving average is $47.31. New Jersey Resources Co. has a 52-week low of $40.62 and a 52-week high of $51.95.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.15. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. During the same period last year, the business posted $0.74 EPS. Equities research analysts forecast that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.71%. New Jersey Resources’s dividend payout ratio (DPR) is currently 54.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NJR shares. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. dropped their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Guggenheim lifted their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, New Jersey Resources has an average rating of “Moderate Buy” and an average target price of $51.75.

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.