New Jersey Resources Co. (NYSE:NJR) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,427 shares of the utilities provider’s stock after buying an additional 1,996 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in New Jersey Resources were worth $1,981,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in New Jersey Resources during the fourth quarter worth $26,000. Quarry LP acquired a new position in New Jersey Resources during the second quarter worth $38,000. Fifth Third Bancorp boosted its stake in New Jersey Resources by 68.0% during the third quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock worth $41,000 after buying an additional 412 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in New Jersey Resources by 2,500.0% during the third quarter. Farmers & Merchants Investments Inc. now owns 1,040 shares of the utilities provider’s stock worth $42,000 after buying an additional 1,000 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in New Jersey Resources by 71.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 914 shares of the utilities provider’s stock worth $45,000 after buying an additional 380 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

New Jersey Resources Stock Performance

Shares of New Jersey Resources stock opened at $43.36 on Friday. New Jersey Resources Co. has a 52 week low of $38.92 and a 52 week high of $53.90. The business’s fifty day simple moving average is $42.12 and its 200-day simple moving average is $42.46. The firm has a market cap of $4.26 billion, a PE ratio of 17.77 and a beta of 0.64. The company has a quick ratio of 0.47, a current ratio of 0.70 and a debt-to-equity ratio of 1.33.

New Jersey Resources (NYSE:NJR) last posted 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 firm 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. Equities analysts forecast that New Jersey Resources Co. will post 2.94 earnings per share for the current year.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Wednesday, March 13th were issued a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.87%. New Jersey Resources’s dividend payout ratio is presently 68.85%.

Analysts Set New Price Targets

Several brokerages have recently commented on NJR. Mizuho decreased 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. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th.

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.