Amalgamated Bank Sells 2,480 Shares of New Jersey Resources Co. (NYSE:NJR)

Amalgamated Bank trimmed its stake in New Jersey Resources Co. (NYSE:NJR) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,472 shares of the utilities provider’s stock after selling 2,480 shares during the period. Amalgamated Bank’s holdings in New Jersey Resources were worth $2,146,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in New Jersey Resources by 2,652.8% during the 1st quarter. SG Americas Securities LLC now owns 89,631 shares of the utilities provider’s stock worth $3,846,000 after purchasing an additional 86,375 shares during the last quarter. Swiss National Bank lifted its holdings in New Jersey Resources by 0.4% in the first quarter. Swiss National Bank now owns 193,000 shares of the utilities provider’s stock valued at $8,282,000 after buying an additional 700 shares during the period. Russell Investments Group Ltd. lifted its holdings in New Jersey Resources by 5.5% in the first quarter. Russell Investments Group Ltd. now owns 24,292 shares of the utilities provider’s stock valued at $1,042,000 after buying an additional 1,257 shares during the period. Avantax Advisory Services Inc. boosted its position in New Jersey Resources by 2.8% during the first quarter. Avantax Advisory Services Inc. now owns 9,357 shares of the utilities provider’s stock valued at $402,000 after acquiring an additional 255 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in New Jersey Resources by 1.0% during the 1st quarter. ProShare Advisors LLC now owns 917,203 shares of the utilities provider’s stock worth $39,357,000 after acquiring an additional 8,843 shares during the period. 70.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NJR has been the topic of a number of recent analyst reports. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Friday. Mizuho boosted their price target on New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company raised their price objective on shares of New Jersey Resources from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.00.

New Jersey Resources Stock Up 1.6 %

NJR stock opened at $47.56 on Tuesday. The stock’s 50 day simple moving average is $46.51 and its 200 day simple moving average is $44.97. The company has a market cap of $4.72 billion, a P/E ratio of 19.90 and a beta of 0.59. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60. New Jersey Resources Co. has a fifty-two week low of $39.44 and a fifty-two week high of $48.68.

New Jersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio is currently 75.31%.

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.