Pictet Asset Management Holding SA Purchases 2,916 Shares of New Jersey Resources Co. (NYSE:NJR)

Pictet Asset Management Holding SA increased its position in shares of New Jersey Resources Co. (NYSE:NJR) by 17.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,663 shares of the utilities provider’s stock after buying an additional 2,916 shares during the quarter. Pictet Asset Management Holding SA’s holdings in New Jersey Resources were worth $917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in New Jersey Resources by 59.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,276 shares of the utilities provider’s stock worth $1,552,000 after acquiring an additional 12,353 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of New Jersey Resources by 8.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider’s stock worth $56,526,000 after purchasing an additional 96,393 shares during the period. Cibc World Markets Corp acquired a new position in shares of New Jersey Resources during the 4th quarter worth about $429,000. Raymond James Financial Inc. bought a new stake in New Jersey Resources during the 4th quarter valued at approximately $3,665,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in New Jersey Resources by 18.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 39,514 shares of the utilities provider’s stock valued at $1,843,000 after purchasing an additional 6,250 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

New Jersey Resources Stock Performance

NJR opened at $47.86 on Monday. The stock’s 50 day simple moving average is $47.79 and its 200-day simple moving average is $47.44. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. The stock has a market cap of $4.80 billion, a PE ratio of 14.42 and a beta of 0.58. New Jersey Resources Co. has a 1 year low of $40.62 and a 1 year 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 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 firm posted $0.74 EPS. Sell-side 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 declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Tuesday, March 11th. New Jersey Resources’s dividend payout ratio is 54.22%.

Insider Buying and Selling at New Jersey Resources

In other New Jersey Resources news, CFO Roberto Bel sold 2,346 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $48.58, for a total transaction of $113,968.68. Following the completion of the transaction, the chief financial officer now directly owns 23,822 shares in the company, valued at $1,157,272.76. This represents a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. 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 research report on Tuesday, January 28th. Jefferies Financial Group initiated coverage on shares of New Jersey Resources in a research note on Tuesday, April 1st. They set a “hold” rating and a $51.00 target price for the company. Finally, Guggenheim raised their price target on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.60.

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.