Dynamic Technology Lab Private Ltd lifted its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 247.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 31,646 shares of the utilities provider's stock after purchasing an additional 22,538 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in New Jersey Resources were worth $1,494,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of New Jersey Resources in the third quarter worth $27,000. Neo Ivy Capital Management purchased a new position in New Jersey Resources in the second quarter valued at about $31,000. GAMMA Investing LLC lifted its stake in shares of New Jersey Resources by 119.5% during the second quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider's stock worth $52,000 after purchasing an additional 661 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of New Jersey Resources during the third quarter worth about $52,000. Finally, Spirit of America Management Corp NY boosted its position in shares of New Jersey Resources by 140.0% in the third quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider's stock worth $57,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on NJR shares. Mizuho boosted their price objective on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Wells Fargo & Company increased their price target on New Jersey Resources from $47.00 to $51.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target 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. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, New Jersey Resources has a consensus rating of "Hold" and a consensus price target of $49.00.
Get Our Latest Analysis on New Jersey Resources
New Jersey Resources Stock Performance
NYSE:NJR traded down $0.79 during trading hours on Tuesday, reaching $50.71. 594,272 shares of the stock were exchanged, compared to its average volume of 489,302. The stock has a market capitalization of $5.03 billion, a P/E ratio of 21.22 and a beta of 0.59. The firm has a 50 day simple moving average of $47.04 and a 200-day simple moving average of $45.38. The company has a quick ratio of 0.41, a current ratio of 0.60 and a debt-to-equity ratio of 1.30. New Jersey Resources Co. has a 52 week low of $39.44 and a 52 week high of $51.80.
New Jersey Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 annualized dividend and a yield of 3.55%. New Jersey Resources's payout ratio is 75.31%.
About New Jersey Resources
(
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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