Proficio Capital Partners LLC Takes Position in New Jersey Resources Co. (NYSE:NJR)

Proficio Capital Partners LLC purchased a new stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 32,049 shares of the utilities provider's stock, valued at approximately $1,495,000.

A number of other hedge funds also recently bought and sold shares of NJR. Charles Schwab Investment Management Inc. lifted its position in New Jersey Resources by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,227,815 shares of the utilities provider's stock valued at $57,953,000 after buying an additional 33,772 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of New Jersey Resources by 59.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,276 shares of the utilities provider's stock worth $1,552,000 after acquiring an additional 12,353 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of New Jersey Resources by 8.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider's stock worth $56,526,000 after purchasing an additional 96,393 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in shares of New Jersey Resources by 4.4% in the third quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider's stock worth $19,918,000 after buying an additional 17,664 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in shares of New Jersey Resources by 22.2% during the 3rd quarter. Holocene Advisors LP now owns 60,162 shares of the utilities provider's stock worth $2,840,000 after acquiring an additional 10,946 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

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New Jersey Resources Price Performance

New Jersey Resources stock traded down $0.00 during trading on Monday, reaching $48.48. The company had a trading volume of 707,896 shares, compared to its average volume of 462,156. The firm has a market capitalization of $4.86 billion, a PE ratio of 14.60 and a beta of 0.57. The firm's 50-day simple moving average is $47.40 and its 200 day simple moving average is $47.31. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. New Jersey Resources Co. has a 1-year low of $40.62 and a 1-year high of $51.95.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same period last year, the company posted $0.74 EPS. As a group, equities research analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

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

Wall Street Analysts Forecast Growth

NJR has been the subject of several research analyst reports. StockNews.com upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. 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 report on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price objective on 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. Finally, Guggenheim increased their price target on New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Four research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $51.75.

New Jersey Resources Company 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.