Algert Global LLC Has $7.98 Million Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Algert Global LLC decreased its holdings in New Jersey Resources Co. (NYSE:NJR - Free Report) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 169,160 shares of the utilities provider's stock after selling 16,477 shares during the quarter. Algert Global LLC owned 0.17% of New Jersey Resources worth $7,984,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Citigroup Inc. increased its stake in shares of New Jersey Resources by 153.1% during the 3rd quarter. Citigroup Inc. now owns 93,876 shares of the utilities provider's stock worth $4,431,000 after purchasing an additional 56,789 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 in the last quarter. Intech Investment Management LLC lifted its position in shares of New Jersey Resources by 110.5% in the third quarter. Intech Investment Management LLC now owns 18,897 shares of the utilities provider's stock worth $892,000 after buying an additional 9,918 shares during the last quarter. Strategy Asset Managers LLC boosted its stake in shares of New Jersey Resources by 6.1% during the 3rd quarter. Strategy Asset Managers LLC now owns 8,592 shares of the utilities provider's stock worth $406,000 after acquiring an additional 496 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of New Jersey Resources by 4.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider's stock worth $19,918,000 after acquiring an additional 17,664 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NJR shares. 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 report on Thursday, August 15th. Mizuho lifted their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a "neutral" rating in a research report on Friday, September 20th. Wells Fargo & Company upped their price objective on shares of New Jersey Resources from $47.00 to $51.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, New Jersey Resources has a consensus rating of "Hold" and an average price target of $49.00.

New Jersey Resources Stock Performance

New Jersey Resources stock traded up $1.19 during mid-day trading on Friday, reaching $51.04. The company had a trading volume of 472,780 shares, compared to its average volume of 470,885. The company has a 50 day moving average of $46.92 and a 200-day moving average of $45.28. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 21.36 and a beta of 0.59. 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 Co. has a 52 week low of $39.44 and a 52 week high of $51.16.

New Jersey Resources Dividend Announcement

The company also recently announced 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 of this dividend is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.53%. New Jersey Resources's payout ratio is 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.