Aigen Investment Management LP bought a new position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 15,441 shares of the utilities provider's stock, valued at approximately $729,000.
A number of other large investors also recently modified their holdings of NJR. Greenwood Capital Associates LLC bought a new stake in New Jersey Resources in the 3rd quarter valued at $1,187,000. Van ECK Associates Corp acquired a new stake in New Jersey Resources during the third quarter worth $52,000. Janney Montgomery Scott LLC raised its stake in shares of New Jersey Resources by 1.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 175,854 shares of the utilities provider's stock valued at $8,300,000 after buying an additional 2,056 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in New Jersey Resources by 2.3% in the third quarter. Pinnacle Associates Ltd. now owns 23,221 shares of the utilities provider's stock valued at $1,035,000 after acquiring an additional 525 shares during the period. Finally, State of Alaska Department of Revenue raised its position in New Jersey Resources by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,431 shares of the utilities provider's stock worth $539,000 after purchasing an additional 780 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective 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. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Mizuho upped their price objective on New Jersey Resources from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their price objective on New Jersey Resources from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Thursday, August 15th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, New Jersey Resources currently has an average rating of "Hold" and an average price target of $49.00.
View Our Latest Report on NJR
New Jersey Resources Stock Performance
Shares of NJR stock traded down $0.50 on Thursday, reaching $47.23. The stock had a trading volume of 228,331 shares, compared to its average volume of 489,473. New Jersey Resources Co. has a 12 month low of $39.44 and a 12 month high of $48.68. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 20.00 and a beta of 0.59. The firm's 50-day moving average is $46.59 and its two-hundred day moving average is $45.05. The company has a quick ratio of 0.41, a current ratio of 0.60 and a debt-to-equity ratio of 1.30.
New Jersey Resources Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 3.81%. New Jersey Resources's dividend payout ratio (DPR) is currently 75.31%.
About New Jersey Resources
(
Free Report)
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.
Featured Stories
Before you consider New Jersey Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and New Jersey Resources wasn't on the list.
While New Jersey Resources currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
