New Jersey Resources Co. (NYSE:NJR) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of New Jersey Resources Co. (NYSE:NJR - Get Free Report) have earned an average rating of "Moderate Buy" from the six brokerages that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $51.60.

Several equities research analysts have recently issued reports on NJR shares. JPMorgan Chase & Co. lowered their price objective on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Jefferies Financial Group began coverage on New Jersey Resources in a report on Tuesday. They set a "hold" rating and a $51.00 target price for the company. Guggenheim boosted their price target on New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Finally, StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th.

Insider Transactions 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 sale, the chief financial officer now owns 22,649 shares of the company's stock, valued at approximately $1,132,450. The trade was a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.72% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Roxbury Financial LLC bought a new stake in shares of New Jersey Resources during the 4th quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new position in New Jersey Resources during the third quarter worth $27,000. Versant Capital Management Inc raised its position in New Jersey Resources by 9,400.0% during the fourth quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider's stock worth $31,000 after acquiring an additional 658 shares in the last quarter. UMB Bank n.a. lifted 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 acquiring an additional 345 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new position in shares of New Jersey Resources in the 4th quarter valued at about $42,000. 70.98% of the stock is currently owned by institutional investors.

New Jersey Resources Trading Down 3.8 %

NJR stock traded down $1.89 during midday trading on Tuesday, hitting $47.86. 1,080,475 shares of the company's stock were exchanged, compared to its average volume of 516,608. New Jersey Resources has a one year low of $40.62 and a one year high of $51.95. 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 company has a market cap of $4.80 billion, a PE ratio of 14.42 and a beta of 0.58. The stock's fifty day moving average price is $47.79 and its 200-day moving average price is $47.44.

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

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were paid a $0.45 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.76%. New Jersey Resources's payout ratio is currently 54.22%.

New Jersey Resources Company 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.