Mutual of America Capital Management LLC Trims Stock Position in New Jersey Resources Co. (NYSE:NJR)

Mutual of America Capital Management LLC cut its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,279 shares of the utilities provider’s stock after selling 3,133 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of New Jersey Resources worth $2,687,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NJR. Fortitude Family Office LLC purchased a new position in shares of New Jersey Resources during the fourth quarter worth approximately $26,000. Quarry LP bought a new position in shares of New Jersey Resources during the second quarter valued at approximately $38,000. Fifth Third Bancorp boosted its stake in shares of New Jersey Resources by 68.0% during the third quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 412 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of 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 valued at $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 valued at $45,000 after purchasing an additional 380 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NJR shares. Mizuho dropped their price objective on shares of 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 upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th.

New Jersey Resources Price Performance

Shares of NJR opened at $42.20 on Friday. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 17.30 and a beta of 0.64. New Jersey Resources Co. has a twelve month low of $38.92 and a twelve month high of $53.90. The company has a quick ratio of 0.47, a current ratio of 0.70 and a debt-to-equity ratio of 1.33. The company has a 50 day moving average of $42.08 and a two-hundred day moving average of $42.43.

New Jersey Resources (NYSE:NJR) last announced its earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share 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 analyst estimates 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 revenue was down 35.4% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. As a group, analysts predict that New Jersey Resources Co. will post 2.94 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Tuesday, March 12th. New Jersey Resources’s dividend payout ratio (DPR) is presently 68.85%.

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.