New Jersey Resources Co. (NYSE:NJR) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in New Jersey Resources Co. (NYSE:NJR) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,185 shares of the utilities provider’s stock after buying an additional 345 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in New Jersey Resources were worth $434,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NJR. Texas Permanent School Fund Corp raised its position in New Jersey Resources by 2.0% in the first quarter. Texas Permanent School Fund Corp now owns 85,930 shares of the utilities provider’s stock valued at $3,687,000 after purchasing an additional 1,650 shares during the period. Quantbot Technologies LP acquired a new position in New Jersey Resources during the 1st quarter worth about $1,635,000. SG Americas Securities LLC boosted 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 valued at $3,846,000 after acquiring an additional 86,375 shares during the period. Swiss National Bank grew its position in New Jersey Resources by 0.4% in the 1st quarter. Swiss National Bank now owns 193,000 shares of the utilities provider’s stock valued at $8,282,000 after acquiring an additional 700 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in New Jersey Resources by 5.5% during the first quarter. Russell Investments Group Ltd. now owns 24,292 shares of the utilities provider’s stock worth $1,042,000 after purchasing an additional 1,257 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Friday. Mizuho boosted their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. increased their price objective on New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company lifted their target price on New Jersey Resources from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, New Jersey Resources currently has a consensus rating of “Hold” and a consensus target price of $49.00.

New Jersey Resources Trading Up 0.9 %

NYSE NJR opened at $46.82 on Friday. New Jersey Resources Co. has a 52 week low of $39.44 and a 52 week high of $48.68. The firm has a 50 day moving average of $46.51 and a two-hundred day moving average of $44.95. The company has a quick ratio of 0.41, a current ratio of 0.60 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $4.64 billion, a PE ratio of 19.59 and a beta of 0.59.

New Jersey Resources Dividend Announcement

The firm 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 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio (DPR) is presently 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.