Atlas Legacy Advisors LLC Acquires New Holdings in New Jersey Resources Co. (NYSE:NJR)

Atlas Legacy Advisors LLC purchased a new stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,733 shares of the utilities provider's stock, valued at approximately $314,000.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of New Jersey Resources by 1.5% during the third quarter. Geode Capital Management LLC now owns 2,366,381 shares of the utilities provider's stock worth $111,714,000 after buying an additional 34,782 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 worth $57,953,000 after buying an additional 33,772 shares during the period. JPMorgan Chase & Co. increased its position in shares of New Jersey Resources by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 609,199 shares of the utilities provider's stock worth $28,754,000 after buying an additional 86,742 shares during the period. Segall Bryant & Hamill LLC increased its position in shares of New Jersey Resources by 4.4% during 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 period. Finally, Rhumbline Advisers increased its position in shares of New Jersey Resources by 0.3% during the fourth quarter. Rhumbline Advisers now owns 352,140 shares of the utilities provider's stock worth $16,427,000 after buying an additional 1,037 shares during the period. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

NJR has been the subject of several recent analyst reports. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Guggenheim increased their price objective on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price objective on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their price target on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, New Jersey Resources has an average rating of "Moderate Buy" and an average price target of $51.75.

Insider Transactions at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of New Jersey Resources stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the transaction, the chief operating officer now owns 37,124 shares in the company, valued at $1,707,704. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.72% of the company's stock.

New Jersey Resources Stock Up 0.8 %

NYSE:NJR traded up $0.39 during trading hours on Friday, reaching $46.84. The company had a trading volume of 175,284 shares, compared to its average volume of 524,462. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. The business's 50-day simple moving average is $46.64 and its two-hundred day simple moving average is $46.85. New Jersey Resources Co. has a twelve month low of $40.51 and a twelve month high of $51.94. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 14.13 and a beta of 0.63.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data 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 last year, the business earned $0.74 EPS. On average, equities analysts expect that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Tuesday, March 11th. New Jersey Resources's dividend payout ratio is 54.22%.

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.