Massachusetts Financial Services Co. MA Decreases Holdings in New Jersey Resources Co. (NYSE:NJR)

Massachusetts Financial Services Co. MA decreased its position in New Jersey Resources Co. (NYSE:NJR) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 754,876 shares of the utilities provider’s stock after selling 53,023 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.75% of New Jersey Resources worth $35,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Roxbury Financial LLC bought a new stake in shares of New Jersey Resources in the 4th quarter worth approximately $25,000. Versant Capital Management Inc raised its position in New Jersey Resources by 9,400.0% in the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 658 shares during the period. UMB Bank n.a. lifted its stake in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 345 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in New Jersey Resources during the fourth quarter valued at about $42,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of New Jersey Resources during the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

New Jersey Resources Price Performance

NJR opened at $47.86 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. The stock has a market capitalization of $4.80 billion, a PE ratio of 14.42 and a beta of 0.58. The stock’s 50 day moving average price is $47.79 and its 200-day moving average price is $47.44. 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 issued its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.74 EPS. On average, equities research analysts predict that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.76%. New Jersey Resources’s payout ratio is 54.22%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NJR shares. Guggenheim increased their target price on New Jersey Resources from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. 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 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.60.

Insiders Place Their Bets

In other New Jersey Resources 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 transaction of $58,650.00. Following the completion of the transaction, the chief financial officer now owns 22,649 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

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.