Barclays PLC Has $8.96 Million Position in New Jersey Resources Co. (NYSE:NJR)

Barclays PLC increased its stake in New Jersey Resources Co. (NYSE:NJR - Free Report) by 140.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,827 shares of the utilities provider's stock after buying an additional 110,723 shares during the period. Barclays PLC owned about 0.19% of New Jersey Resources worth $8,959,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. FSA Wealth Management LLC acquired a new position in New Jersey Resources in the third quarter worth $27,000. V Square Quantitative Management LLC bought a new position in shares of New Jersey Resources during the third quarter valued at approximately $27,000. Van ECK Associates Corp acquired a new stake in shares of New Jersey Resources during the 3rd quarter worth approximately $52,000. Spirit of America Management Corp NY lifted its holdings in shares of New Jersey Resources by 140.0% in the 3rd quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider's stock worth $57,000 after purchasing an additional 700 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in New Jersey Resources in the second quarter worth $76,000. Institutional investors and hedge funds own 70.98% of the company's stock.

New Jersey Resources Trading Down 0.3 %

Shares of NYSE:NJR opened at $47.53 on Wednesday. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 16.28 and a beta of 0.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.36 and a current ratio of 0.62. The company has a 50 day moving average price of $47.85 and a 200 day moving average price of $46.01. New Jersey Resources Co. has a 1-year low of $39.44 and a 1-year high of $51.94.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its quarterly earnings results on Monday, November 25th. The utilities provider reported $0.89 earnings per share for the quarter, hitting analysts' consensus estimates of $0.89. New Jersey Resources had a return on equity of 13.54% and a net margin of 16.13%. The firm had revenue of $395.78 million for the quarter, compared to analysts' expectations of $406.97 million. During the same quarter last year, the business posted $0.30 EPS. New Jersey Resources's revenue was up 19.5% on a year-over-year basis. On average, research analysts anticipate that New Jersey Resources Co. will post 3.1 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.79%. New Jersey Resources's payout ratio is currently 61.64%.

Wall Street Analysts Forecast Growth

NJR has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded shares of New Jersey Resources from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $52.00 to $54.00 in a research report on Thursday, December 12th. Wells Fargo & Company raised their target price on 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. Mizuho lifted their price objective on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Guggenheim upped their price target on shares of New Jersey Resources from $46.00 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 27th. Finally, StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th. Four 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.00.

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.