Mattern Capital Management LLC Reduces Position in New Jersey Resources Co. (NYSE:NJR)

Mattern Capital Management LLC lessened its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 2.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 169,378 shares of the utilities provider’s stock after selling 3,400 shares during the quarter. Mattern Capital Management LLC’s holdings in New Jersey Resources were worth $7,901,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Roxbury Financial LLC purchased a new stake in shares of New Jersey Resources in the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new stake in shares of New Jersey Resources in the third quarter valued at approximately $27,000. Versant Capital Management Inc boosted its holdings in shares of New Jersey Resources by 9,400.0% in the fourth quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 658 shares during the period. UMB Bank n.a. boosted its holdings in shares of New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 345 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of New Jersey Resources in the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

New Jersey Resources Price Performance

NYSE:NJR opened at $46.41 on Friday. New Jersey Resources Co. has a one year low of $40.51 and a one year high of $51.94. 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 firm has a market cap of $4.65 billion, a price-to-earnings ratio of 13.98 and a beta of 0.63. The firm’s fifty day moving average is $46.67 and its two-hundred day moving average is $46.85.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 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 business earned $0.74 EPS. Research analysts expect 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 will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.88%. The ex-dividend date is Tuesday, March 11th. New Jersey Resources’s payout ratio is 54.22%.

Insider Buying and Selling at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total transaction of $229,218.00. Following the sale, the chief operating officer now directly owns 37,124 shares of the company’s stock, valued at $1,707,704. This represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NJR shares. Wells Fargo & Company upped their target price on New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Guggenheim upped their target price 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 research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.75.

New Jersey Resources 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.