Mutual of America Capital Management LLC Cuts Position in New Jersey Resources Co. (NYSE:NJR)

Mutual of America Capital Management LLC lowered its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,597 shares of the utilities provider’s stock after selling 2,984 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of New Jersey Resources worth $2,530,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new position in shares of New Jersey Resources during the 3rd quarter worth approximately $27,000. Neo Ivy Capital Management acquired a new position in New Jersey Resources during the second quarter worth $31,000. Van ECK Associates Corp purchased a new position in New Jersey Resources during the third quarter valued at $52,000. Spirit of America Management Corp NY grew its position in shares of New Jersey Resources by 140.0% in the third quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock valued at $57,000 after purchasing an additional 700 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of New Jersey Resources by 119.5% during the second quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

New Jersey Resources Price Performance

NJR stock opened at $51.04 on Friday. New Jersey Resources Co. has a 1 year low of $39.44 and a 1 year high of $51.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.41. The firm has a market capitalization of $5.06 billion, a PE ratio of 21.36 and a beta of 0.59. The business has a 50 day simple moving average of $46.92 and a 200-day simple moving average of $45.28.

New Jersey Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.53%. New Jersey Resources’s dividend payout ratio is presently 75.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NJR shares. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company boosted their price target on 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. 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, Mizuho lifted their target price 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. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.00.

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.