Wealth Enhancement Advisory Services LLC Purchases 307 Shares of New Jersey Resources Co. (NYSE:NJR)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,840 shares of the utilities provider’s stock after purchasing an additional 307 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in New Jersey Resources were worth $378,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Avantax Advisory Services Inc. raised its holdings in shares of New Jersey Resources by 2.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 9,357 shares of the utilities provider’s stock worth $402,000 after buying an additional 255 shares in the last quarter. ICW Investment Advisors LLC lifted its holdings in shares of New Jersey Resources by 1.8% in the fourth quarter. ICW Investment Advisors LLC now owns 16,850 shares of the utilities provider’s stock worth $751,000 after acquiring an additional 305 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of New Jersey Resources by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 122,191 shares of the utilities provider’s stock valued at $5,447,000 after purchasing an additional 373 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of New Jersey Resources by 7.0% during the 4th quarter. QRG Capital Management Inc. now owns 5,984 shares of the utilities provider’s stock valued at $267,000 after purchasing an additional 389 shares during the last quarter. Finally, Strategy Asset Managers LLC increased its position in New Jersey Resources by 5.2% during the 1st quarter. Strategy Asset Managers LLC now owns 7,942 shares of the utilities provider’s stock worth $341,000 after purchasing an additional 390 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling at New Jersey Resources

In other news, CEO Stephen D. Westhoven sold 26,600 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $45.06, for a total transaction of $1,198,596.00. Following the completion of the transaction, the chief executive officer now directly owns 168,705 shares in the company, valued at $7,601,847.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Stephen D. Westhoven sold 3,400 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $45.00, for a total value of $153,000.00. Following the transaction, the chief executive officer now owns 195,305 shares in the company, valued at $8,788,725. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stephen D. Westhoven sold 26,600 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $45.06, for a total value of $1,198,596.00. Following the sale, the chief executive officer now owns 168,705 shares of the company’s stock, valued at $7,601,847.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,000 shares of company stock worth $1,351,596. Insiders own 0.75% of the company’s stock.

New Jersey Resources Stock Up 1.0 %

NYSE:NJR opened at $46.11 on Friday. New Jersey Resources Co. has a one year low of $38.92 and a one year high of $47.37. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.70 and a quick ratio of 0.56. The company has a market cap of $4.56 billion, a PE ratio of 18.23 and a beta of 0.60. The firm’s 50 day simple moving average is $44.36 and its 200 day simple moving average is $43.29.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The business had revenue of $275.64 million for the quarter, compared to analyst estimates of $283.56 million. New Jersey Resources had a return on equity of 12.16% and a net margin of 14.46%. New Jersey Resources’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. On average, research analysts anticipate that New Jersey Resources Co. will post 2.95 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on NJR shares. Argus upgraded shares of New Jersey Resources to a “strong-buy” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. raised their price objective on New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th.

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.