Allspring Global Investments Holdings LLC Has $379,000 Stake in New Jersey Resources Co. (NYSE:NJR)

Allspring Global Investments Holdings LLC trimmed its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 68.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,169 shares of the utilities provider's stock after selling 17,390 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in New Jersey Resources were worth $379,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Creative Planning grew its holdings in New Jersey Resources by 2.4% during the 3rd quarter. Creative Planning now owns 20,514 shares of the utilities provider's stock valued at $968,000 after buying an additional 481 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of New Jersey Resources by 4,620.0% in the third quarter. International Assets Investment Management LLC now owns 83,638 shares of the utilities provider's stock valued at $3,948,000 after purchasing an additional 81,866 shares during the period. PFG Investments LLC purchased a new stake in New Jersey Resources in the 3rd quarter valued at about $213,000. Wealth Enhancement Advisory Services LLC increased its position in New Jersey Resources by 3.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,185 shares of the utilities provider's stock worth $434,000 after purchasing an additional 345 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of New Jersey Resources by 49.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 6,338 shares of the utilities provider's stock worth $297,000 after buying an additional 2,099 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

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New Jersey Resources Stock Performance

NJR stock traded up $0.53 during midday trading on Friday, hitting $48.36. 531,791 shares of the company traded hands, compared to its average volume of 538,938. The business has a 50 day simple moving average of $46.72 and a 200-day simple moving average of $46.97. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a twelve month low of $40.62 and a twelve month high of $51.94. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.57 and a beta of 0.63.

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

New Jersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.72%. New Jersey Resources's dividend payout ratio is 54.22%.

Insider Buying and Selling at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.00, for a total value of $229,218.00. Following the sale, the chief operating officer now directly owns 37,124 shares in the company, valued at approximately $1,707,704. This represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on NJR shares. Wells Fargo & Company increased their price objective 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. Guggenheim raised 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. JPMorgan Chase & Co. cut their price target on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, New Jersey Resources currently has an average rating of "Moderate Buy" and a consensus price target of $51.75.

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.