New Jersey Resources Co. (NYSE:NJR) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of New Jersey Resources Co. (NYSE:NJR - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $51.75.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Guggenheim lifted their price objective 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. Wells Fargo & Company raised their target price on New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Finally, StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th.

Insider Buying and Selling at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of New Jersey Resources stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total value of $229,218.00. Following the sale, the chief operating officer now owns 37,124 shares in the company, valued at $1,707,704. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by corporate insiders.

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Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Arizona State Retirement System increased its stake in New Jersey Resources by 1.1% during the 4th quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider's stock worth $1,343,000 after buying an additional 325 shares in the last quarter. Good Life Advisors LLC increased its position in shares of 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 purchasing an additional 327 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of 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 worth $434,000 after purchasing an additional 345 shares in the last quarter. UMB Bank n.a. raised its stake in New Jersey Resources by 69.8% in the 4th 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 during the last quarter. Finally, Greenwood Capital Associates LLC lifted its holdings 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 in the last quarter. Institutional investors and hedge funds own 70.98% of the company's stock.

New Jersey Resources Stock Performance

Shares of NYSE NJR traded down $0.31 during mid-day trading on Friday, hitting $47.48. The stock had a trading volume of 766,772 shares, compared to its average volume of 550,739. The company has a 50 day moving average of $46.91 and a two-hundred day moving average of $47.13. New Jersey Resources 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 quick ratio of 0.61 and a current ratio of 0.89. The firm has a market cap of $4.76 billion, a PE ratio of 14.30 and a beta of 0.57.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the business earned $0.74 earnings per share. Research analysts predict that New Jersey Resources will post 3.15 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be given 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 yield of 3.79%. New Jersey Resources's dividend 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.