9,195 Shares in New Jersey Resources Co. (NYSE:NJR) Bought by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in New Jersey Resources Co. (NYSE:NJR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,195 shares of the utilities provider’s stock, valued at approximately $429,000.

Other large investors also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in New Jersey Resources during the third quarter worth $8,590,000. Benjamin Edwards Inc. boosted its stake in New Jersey Resources by 8,995.5% during the third quarter. Benjamin Edwards Inc. now owns 157,079 shares of the utilities provider’s stock worth $7,414,000 after buying an additional 155,352 shares during the period. Barclays PLC boosted its stake in New Jersey Resources by 140.0% during the third quarter. Barclays PLC now owns 189,827 shares of the utilities provider’s stock worth $8,959,000 after buying an additional 110,723 shares during the period. Bank of New York Mellon Corp boosted its stake in New Jersey Resources by 8.6% during 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 buying an additional 96,393 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in New Jersey Resources by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 609,199 shares of the utilities provider’s stock worth $28,754,000 after buying an additional 86,742 shares during the period. Institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company upped their price target on shares of 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 shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Guggenheim upped their price target on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, New Jersey Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

New Jersey Resources Trading Down 1.5 %

NYSE NJR opened at $48.46 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a 12 month low of $40.62 and a 12 month high of $51.95. The company’s 50-day moving average price is $47.40 and its 200-day moving average price is $47.31. The stock has a market cap of $4.86 billion, a PE ratio of 14.59 and a beta of 0.57.

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 company posted $0.74 earnings per share. Equities research analysts forecast that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.71%. New Jersey Resources’s dividend payout ratio (DPR) is presently 54.22%.

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.