New Jersey Resources Co. (NYSE:NJR) Shares Acquired by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC lifted its position in New Jersey Resources Co. (NYSE:NJR - Free Report) by 15.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 92,322 shares of the utilities provider's stock after buying an additional 12,409 shares during the period. Aptus Capital Advisors LLC owned approximately 0.09% of New Jersey Resources worth $4,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NJR. AQR Capital Management LLC grew its stake in shares of New Jersey Resources by 39.9% during the second quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider's stock worth $26,430,000 after acquiring an additional 176,396 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of New Jersey Resources by 41.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,031 shares of the utilities provider's stock worth $2,061,000 after buying an additional 14,150 shares during the period. Victory Capital Management Inc. grew its holdings in shares of New Jersey Resources by 192.9% during the second quarter. Victory Capital Management Inc. now owns 387,950 shares of the utilities provider's stock valued at $16,581,000 after buying an additional 255,503 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of New Jersey Resources by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,284,245 shares of the utilities provider's stock valued at $54,889,000 after acquiring an additional 40,094 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in New Jersey Resources by 10.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 155,658 shares of the utilities provider's stock worth $6,653,000 after acquiring an additional 14,338 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NJR. Mizuho upped their price objective on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, September 20th. StockNews.com upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Wells Fargo & Company upped their target price on New Jersey Resources from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price target on New Jersey Resources from $48.00 to $49.00 and gave the company a "neutral" rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $49.00.

New Jersey Resources Price Performance

NYSE NJR traded down $0.02 during mid-day trading on Wednesday, hitting $47.73. The stock had a trading volume of 363,935 shares, compared to its average volume of 490,780. New Jersey Resources Co. has a twelve month low of $39.44 and a twelve month high of $48.68. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.41. The firm's 50 day moving average is $46.56 and its 200 day moving average is $45.04. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 20.05 and a beta of 0.59.

New Jersey Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.77%. New Jersey Resources's dividend payout ratio is currently 75.31%.

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.