GAMMA Investing LLC Buys 637 Shares of New Jersey Resources Co. (NYSE:NJR)

GAMMA Investing LLC increased its position in New Jersey Resources Co. (NYSE:NJR) by 52.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,851 shares of the utilities provider’s stock after buying an additional 637 shares during the period. GAMMA Investing LLC’s holdings in New Jersey Resources were worth $87,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its holdings in shares of 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in New Jersey Resources by 3.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 307 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in New Jersey Resources by 0.9% during the first quarter. Ameritas Investment Partners Inc. now owns 46,847 shares of the utilities provider’s stock worth $2,010,000 after buying an additional 416 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of New Jersey Resources by 3.6% in the first quarter. Arkadios Wealth Advisors now owns 12,193 shares of the utilities provider’s stock valued at $523,000 after buying an additional 428 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of New Jersey Resources by 1.3% in the first quarter. Jennison Associates LLC now owns 40,132 shares of the utilities provider’s stock valued at $1,722,000 after buying an additional 511 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

New Jersey Resources Stock Up 0.7 %

NJR opened at $46.00 on Tuesday. New Jersey Resources Co. has a fifty-two week low of $39.44 and a fifty-two week high of $48.68. The firm has a market capitalization of $4.55 billion, a P/E ratio of 18.18 and a beta of 0.59. The company’s 50-day moving average is $46.04 and its 200 day moving average is $44.46. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.41.

New Jersey Resources (NYSE:NJR) last posted its earnings results on Tuesday, August 6th. The utilities provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $275.64 million for the quarter, compared to the consensus estimate of $283.56 million. New Jersey Resources had a return on equity of 11.06% and a net margin of 13.61%. New Jersey Resources’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 EPS. Research analysts expect that New Jersey Resources Co. will post 2.95 earnings per share for the current fiscal year.

New Jersey Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 23rd were given a dividend of $0.45 per share. The ex-dividend date was Monday, September 23rd. This is a positive change from New Jersey Resources’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 3.91%. New Jersey Resources’s dividend payout ratio (DPR) is currently 71.15%.

Analyst Upgrades and Downgrades

NJR has been the topic of a number of analyst reports. Mizuho upped their target price on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a report on Sunday, September 22nd. Finally, JPMorgan Chase & Co. raised their target price on New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, August 15th.

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.