LPL Financial LLC Trims Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

LPL Financial LLC decreased its stake in New Jersey Resources Co. (NYSE:NJR - Free Report) by 23.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,911 shares of the utilities provider's stock after selling 16,238 shares during the quarter. LPL Financial LLC owned approximately 0.05% of New Jersey Resources worth $2,468,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of New Jersey Resources by 1.1% in the 4th quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider's stock valued at $1,343,000 after purchasing an additional 325 shares during the last quarter. Good Life Advisors LLC increased its position in New Jersey Resources by 1.0% during the fourth quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider's stock worth $1,616,000 after buying an additional 327 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of New Jersey Resources by 69.8% during the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock worth $39,000 after buying an additional 345 shares during the last quarter. Greenwood Capital Associates LLC boosted its stake in New Jersey Resources by 1.5% in the 4th quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider's stock valued at $1,191,000 after purchasing an additional 383 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of New Jersey Resources by 3.5% during the fourth quarter. Sei Investments Co. now owns 12,237 shares of the utilities provider's stock worth $571,000 after purchasing an additional 418 shares during the period. Institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Jefferies Financial Group initiated coverage on shares of New Jersey Resources in a report on Tuesday, April 1st. They set a "hold" rating and a $51.00 price target on the stock. Guggenheim raised their price target on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Finally, New Street Research set a $51.00 price target on shares of New Jersey Resources in a research note on Tuesday, April 1st. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $51.50.

Insider Buying and Selling at New Jersey Resources

In related news, CFO Roberto Bel sold 1,173 shares of New Jersey Resources stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $50.00, for a total value of $58,650.00. Following the completion of the transaction, the chief financial officer now owns 22,649 shares in the company, valued at approximately $1,132,450. This trade represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company's stock.

New Jersey Resources Stock Up 0.7 %

Shares of New Jersey Resources stock traded up $0.36 during midday trading on Thursday, hitting $50.06. The company had a trading volume of 219,242 shares, compared to its average volume of 628,047. New Jersey Resources Co. has a 52-week low of $41.52 and a 52-week high of $51.94. The stock has a market capitalization of $5.02 billion, a P/E ratio of 15.08 and a beta of 0.58. The company has a 50 day moving average of $47.89 and a 200 day moving average of $47.48. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89.

New Jersey Resources (NYSE:NJR - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, beating the consensus estimate 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 previous year, the firm earned $0.74 EPS. On average, equities analysts predict that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.60%. New Jersey Resources's payout ratio is currently 54.22%.

New Jersey Resources 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.