New Jersey Resources Co. (NYSE:NJR) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its holdings in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 807,899 shares of the utilities provider's stock after selling 22,751 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.81% of New Jersey Resources worth $38,133,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in New Jersey Resources by 5.5% during the first quarter. Russell Investments Group Ltd. now owns 24,292 shares of the utilities provider's stock valued at $1,042,000 after buying an additional 1,257 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of New Jersey Resources by 3.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 127,505 shares of the utilities provider's stock valued at $5,475,000 after purchasing an additional 4,110 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of New Jersey Resources by 11.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,608 shares of the utilities provider's stock worth $2,601,000 after buying an additional 6,039 shares in the last quarter. Cetera Advisors LLC purchased a new position in New Jersey Resources during the 1st quarter valued at about $312,000. Finally, Boston Partners raised its stake in New Jersey Resources by 65.5% in the first quarter. Boston Partners now owns 480,001 shares of the utilities provider's stock worth $20,623,000 after buying an additional 190,028 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

New Jersey Resources Stock Performance

Shares of NJR stock traded up $0.52 on Monday, hitting $51.56. The company had a trading volume of 290,867 shares, compared to its average volume of 487,254. 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 twelve month low of $39.44 and a twelve month high of $51.80. The company has a 50-day moving average price of $46.92 and a 200-day moving average price of $45.29. The firm has a market cap of $5.11 billion, a P/E ratio of 21.36 and a beta of 0.59.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.49%. New Jersey Resources's payout ratio is 75.31%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NJR. Mizuho raised their price objective on New Jersey Resources from $45.00 to $47.00 and gave the company a "neutral" rating in a research report on Friday, September 20th. Wells Fargo & Company lifted their price objective on shares of New Jersey Resources from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price target on New Jersey Resources from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $49.00.

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.