Teacher Retirement System of Texas Buys 12,261 Shares of New Jersey Resources Co. (NYSE:NJR)

Teacher Retirement System of Texas raised its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 31.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,614 shares of the utilities provider’s stock after purchasing an additional 12,261 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of New Jersey Resources worth $2,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Roxbury Financial LLC bought a new stake in shares of New Jersey Resources during the 4th quarter worth $25,000. FSA Wealth Management LLC bought a new stake in New Jersey Resources during the third quarter worth about $27,000. Versant Capital Management Inc boosted its holdings in shares of 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 in the last quarter. UMB Bank n.a. raised its holdings in shares of New Jersey Resources by 69.8% during the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in New Jersey Resources in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

New Jersey Resources Price Performance

NJR stock opened at $48.20 on Thursday. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 14.52 and a beta of 0.57. The firm’s 50-day moving average price is $47.53 and its two-hundred day moving average price is $47.35. 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 12-month low of $40.62 and a 12-month high of $51.95.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings results 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 return on equity of 15.72% and a net margin of 18.25%. During the same quarter in the prior year, the firm posted $0.74 EPS. As a group, equities analysts predict that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.73%. New Jersey Resources’s dividend payout ratio (DPR) is presently 54.22%.

Analysts Set New Price Targets

A number of research analysts have commented on NJR shares. Wells Fargo & Company increased 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. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut 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. Finally, Guggenheim lifted their price objective on New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Insider Transactions at New Jersey Resources

In other news, CFO Roberto Bel sold 2,346 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $48.58, for a total value of $113,968.68. Following the completion of the transaction, the chief financial officer now owns 23,822 shares in the company, valued at $1,157,272.76. This trade represents a 8.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

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.