Essential Planning LLC. Invests $1.54 Million in New Jersey Resources Co. (NYSE:NJR)

Essential Planning LLC. acquired a new stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 32,500 shares of the utilities provider's stock, valued at approximately $1,540,000.

Several other large investors also recently modified their holdings of NJR. HighTower Advisors LLC lifted its position in shares of New Jersey Resources by 24.9% during the fourth quarter. HighTower Advisors LLC now owns 31,803 shares of the utilities provider's stock worth $1,484,000 after purchasing an additional 6,339 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of New Jersey Resources by 11.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,359 shares of the utilities provider's stock valued at $1,230,000 after buying an additional 2,804 shares during the last quarter. AlphaQuest LLC lifted its holdings in New Jersey Resources by 82.4% in the fourth quarter. AlphaQuest LLC now owns 71,825 shares of the utilities provider's stock worth $3,351,000 after acquiring an additional 32,456 shares during the last quarter. Edgestream Partners L.P. bought a new position in New Jersey Resources in the fourth quarter worth about $1,171,000. Finally, Inceptionr LLC grew its holdings in shares of New Jersey Resources by 123.4% during the fourth quarter. Inceptionr LLC now owns 17,824 shares of the utilities provider's stock valued at $831,000 after purchasing an additional 9,844 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total transaction of $229,218.00. Following the completion of the transaction, the chief operating officer now owns 37,124 shares in the company, valued at approximately $1,707,704. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.72% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

NJR has been the subject of a number of analyst reports. Wells Fargo & Company boosted 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. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, Guggenheim upped their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, New Jersey Resources presently has a consensus rating of "Moderate Buy" and an average target price of $51.75.

New Jersey Resources Stock Performance

Shares of NJR traded up $1.22 during trading hours on Friday, reaching $49.28. 502,333 shares of the company's stock traded hands, compared to its average volume of 568,801. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 14.84 and a beta of 0.57. The business's fifty day simple moving average is $47.09 and its two-hundred day simple moving average is $47.20. New Jersey Resources Co. has a twelve month low of $40.62 and a twelve month high of $51.94. 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 released its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the business posted $0.74 EPS. Analysts predict that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The company also recently declared 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. This represents a $1.80 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Tuesday, March 11th. New Jersey Resources's payout ratio is currently 54.22%.

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.