Citigroup Inc. Has $4.43 Million Stock Position in New Jersey Resources Co. (NYSE:NJR)

Citigroup Inc. boosted its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 153.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93,876 shares of the utilities provider's stock after buying an additional 56,789 shares during the quarter. Citigroup Inc. owned approximately 0.09% of New Jersey Resources worth $4,431,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of New Jersey Resources by 11.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,608 shares of the utilities provider's stock valued at $2,601,000 after acquiring an additional 6,039 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of New Jersey Resources in the 1st quarter valued at $312,000. GAMMA Investing LLC increased its position in shares of New Jersey Resources by 119.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider's stock valued at $52,000 after buying an additional 661 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of New Jersey Resources by 3.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider's stock valued at $378,000 after buying an additional 307 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of New Jersey Resources by 29.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 26,159 shares of the utilities provider's stock valued at $1,118,000 after buying an additional 5,894 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on NJR shares. 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 research report on Friday, September 20th. Guggenheim upped their price objective on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a "neutral" rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Wednesday. Wells Fargo & Company upped 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. Finally, JPMorgan Chase & Co. upped their target price on shares of New Jersey Resources from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $49.75.

New Jersey Resources Stock Down 0.1 %

Shares of New Jersey Resources stock traded down $0.05 during trading hours on Wednesday, reaching $50.12. 455,124 shares of the company's stock were exchanged, compared to its average volume of 488,433. The company has a 50 day moving average of $47.48 and a two-hundred day moving average of $45.66. New Jersey Resources Co. has a fifty-two week low of $39.44 and a fifty-two week high of $51.94. The company has a current ratio of 0.62, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. The stock has a market cap of $5.00 billion, a P/E ratio of 17.16 and a beta of 0.63.

New Jersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings data on Monday, November 25th. The utilities provider reported $0.89 EPS for the quarter, hitting analysts' consensus estimates of $0.89. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. The company had revenue of $395.78 million during the quarter, compared to the consensus estimate of $406.97 million. During the same period in the prior year, the business posted $0.30 EPS. The company's quarterly revenue was up 19.5% on a year-over-year basis. On average, sell-side analysts forecast that New Jersey Resources Co. will post 3.05 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 annualized dividend and a yield of 3.59%. New Jersey Resources's dividend payout ratio (DPR) is currently 61.64%.

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.