Corient Private Wealth LLC Cuts Stock Position in New Jersey Resources Co. (NYSE:NJR)

Corient Private Wealth LLC cut its position in New Jersey Resources Co. (NYSE:NJR - Free Report) by 34.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,780 shares of the utilities provider's stock after selling 31,253 shares during the quarter. Corient Private Wealth LLC owned about 0.06% of New Jersey Resources worth $2,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position 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 valued at $57,953,000 after purchasing an additional 33,772 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in New Jersey Resources by 59.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,276 shares of the utilities provider's stock worth $1,552,000 after purchasing an additional 12,353 shares during the period. Bank of New York Mellon Corp grew its position in shares of New Jersey Resources by 8.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider's stock worth $56,526,000 after buying an additional 96,393 shares during the last quarter. Holocene Advisors LP increased its position in New Jersey Resources by 22.2% during the 3rd quarter. Holocene Advisors LP now owns 60,162 shares of the utilities provider's stock valued at $2,840,000 after purchasing an additional 10,946 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of New Jersey Resources by 18.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 39,514 shares of the utilities provider's stock worth $1,843,000 after purchasing an additional 6,250 shares during the period. 70.98% of the stock is owned by institutional investors.

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New Jersey Resources Stock Up 0.3 %

New Jersey Resources stock traded up $0.17 during mid-day trading on Thursday, reaching $48.41. The stock had a trading volume of 352,344 shares, compared to its average volume of 463,659. New Jersey Resources Co. has a one year low of $40.62 and a one year high of $51.95. The company has a 50-day moving average price of $47.53 and a two-hundred day moving average price of $47.35. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.58 and a beta of 0.57. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (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 in the prior year, the firm earned $0.74 EPS. On average, analysts expect that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.72%. New Jersey Resources's dividend payout ratio is presently 54.22%.

Analyst Ratings Changes

NJR has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered 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 report on Tuesday, January 28th. Guggenheim raised their target price on New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company raised their price objective 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. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $51.75.

Insider Activity

In other New Jersey Resources news, CFO Roberto Bel sold 2,346 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $48.58, for a total transaction of $113,968.68. Following the completion of the sale, the chief financial officer now directly owns 23,822 shares of the company's stock, valued at approximately $1,157,272.76. This represents a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company's stock.

New Jersey Resources Company 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.