Thrivent Financial for Lutherans Sells 579 Shares of New Jersey Resources Co. (NYSE:NJR)

Thrivent Financial for Lutherans decreased its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,474 shares of the utilities provider’s stock after selling 579 shares during the period. Thrivent Financial for Lutherans’ holdings in New Jersey Resources were worth $1,108,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NJR. Wealth Enhancement Advisory Services LLC raised its holdings in shares of New Jersey Resources by 3.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider’s stock valued at $378,000 after acquiring an additional 307 shares in the last quarter. Good Life Advisors LLC raised its stake in New Jersey Resources by 1.0% in the third quarter. Good Life Advisors LLC now owns 34,316 shares of the utilities provider’s stock valued at $1,620,000 after purchasing an additional 333 shares in the last quarter. Creative Planning raised its stake in New Jersey Resources by 2.4% in the third quarter. Creative Planning now owns 20,514 shares of the utilities provider’s stock valued at $968,000 after purchasing an additional 481 shares in the last quarter. Inspire Investing LLC lifted its position in New Jersey Resources by 6.3% during the third quarter. Inspire Investing LLC now owns 8,698 shares of the utilities provider’s stock valued at $411,000 after purchasing an additional 515 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of New Jersey Resources by 2.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 23,221 shares of the utilities provider’s stock worth $1,035,000 after buying an additional 525 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

NJR has been the subject of a number of research analyst reports. Mizuho lifted their price objective 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. Guggenheim lifted their price target on New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. StockNews.com lowered New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their target price on New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company increased their price target on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, New Jersey Resources presently has an average rating of “Hold” and an average price target of $49.75.

New Jersey Resources Stock Down 0.1 %

NJR opened at $51.58 on Monday. New Jersey Resources Co. has a 12 month low of $39.44 and a 12 month high of $51.94. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31. The business’s 50-day moving average price is $47.28 and its 200-day moving average price is $45.54. The company has a market cap of $5.15 billion, a P/E ratio of 17.66 and a beta of 0.59.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.49%. New Jersey Resources’s dividend payout ratio (DPR) is currently 61.64%.

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.