Benjamin Edwards Inc. lifted its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 8,995.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,079 shares of the utilities provider's stock after purchasing an additional 155,352 shares during the quarter. Benjamin Edwards Inc. owned 0.16% of New Jersey Resources worth $7,414,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. 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 worth $57,953,000 after buying an additional 33,772 shares during the last quarter. AQR Capital Management LLC lifted its position in New Jersey Resources by 39.9% in the 2nd quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider's stock valued at $26,430,000 after acquiring an additional 176,396 shares in the last quarter. Victory Capital Management Inc. boosted its stake in New Jersey Resources by 192.9% during the 2nd quarter. Victory Capital Management Inc. now owns 387,950 shares of the utilities provider's stock valued at $16,581,000 after purchasing an additional 255,503 shares during the last quarter. International Assets Investment Management LLC increased its holdings in New Jersey Resources by 4,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 83,638 shares of the utilities provider's stock worth $3,948,000 after purchasing an additional 81,866 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of New Jersey Resources by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,284,245 shares of the utilities provider's stock worth $54,889,000 after purchasing an additional 40,094 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.
New Jersey Resources Stock Performance
NYSE NJR traded down $0.37 during trading on Tuesday, hitting $50.63. 89,840 shares of the company's stock traded hands, compared to its average volume of 487,216. 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 stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 17.47 and a beta of 0.63. New Jersey Resources Co. has a 12-month low of $39.44 and a 12-month high of $51.94. The business has a 50 day moving average of $47.35 and a 200-day moving average of $45.59.
New Jersey Resources Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources's dividend payout ratio (DPR) is presently 61.64%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on NJR shares. StockNews.com lowered New Jersey Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, November 26th. Guggenheim boosted their price target on shares of New Jersey Resources from $46.00 to $49.00 and gave the stock a "neutral" rating in a report on Wednesday, November 27th. Mizuho increased 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. Wells Fargo & Company boosted their target price on New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. boosted their price objective on New Jersey Resources from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $49.75.
View Our Latest Stock Report on New Jersey Resources
New Jersey Resources Profile
(
Free Report)
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.
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