Inceptionr LLC Has $831,000 Position in New Jersey Resources Co. (NYSE:NJR)

Inceptionr LLC increased its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 123.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,824 shares of the utilities provider's stock after acquiring an additional 9,844 shares during the quarter. Inceptionr LLC's holdings in New Jersey Resources were worth $831,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Arizona State Retirement System lifted its stake in New Jersey Resources by 1.1% in the fourth quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider's stock valued at $1,343,000 after buying an additional 325 shares during the period. Good Life Advisors LLC boosted its stake in New Jersey Resources by 1.0% during the 4th quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider's stock worth $1,616,000 after acquiring an additional 327 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in New Jersey Resources by 3.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,185 shares of the utilities provider's stock valued at $434,000 after purchasing an additional 345 shares during the period. UMB Bank n.a. increased its stake in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock valued at $39,000 after purchasing an additional 345 shares in the last quarter. Finally, Greenwood Capital Associates LLC raised its holdings in New Jersey Resources by 1.5% in the fourth quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider's stock worth $1,191,000 after purchasing an additional 383 shares during the period. Institutional investors and hedge funds own 70.98% of the company's stock.

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Analyst Ratings Changes

NJR has been the subject of a number of recent analyst reports. 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. Guggenheim boosted 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. JPMorgan Chase & Co. dropped their price target on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Finally, StockNews.com upgraded New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, New Jersey Resources currently has a consensus rating of "Moderate Buy" and an average target price of $51.75.

New Jersey Resources Stock Up 3.2 %

Shares of NJR traded up $1.49 during midday trading on Tuesday, hitting $48.60. The stock had a trading volume of 1,178,134 shares, compared to its average volume of 564,374. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 14.64 and a beta of 0.57. The company has a 50 day simple moving average of $46.93 and a two-hundred day simple moving average of $47.14. 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 posted its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, analysts anticipate that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.70%. New Jersey Resources's dividend payout ratio is 54.22%.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the sale, the chief operating officer now owns 37,124 shares of the company's stock, valued at approximately $1,707,704. This represents a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by corporate insiders.

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.