Allworth Financial LP Boosts Holdings in New Jersey Resources Co. (NYSE:NJR)

Allworth Financial LP grew its position in New Jersey Resources Co. (NYSE:NJR - Free Report) by 2,052.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,238 shares of the utilities provider's stock after purchasing an additional 29,787 shares during the quarter. Allworth Financial LP's holdings in New Jersey Resources were worth $1,456,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NJR. Roxbury Financial LLC bought a new position in New Jersey Resources during the fourth quarter worth $25,000. V Square Quantitative Management LLC bought a new position in New Jersey Resources during the third quarter worth $27,000. FSA Wealth Management LLC bought a new position in New Jersey Resources during the third quarter worth $27,000. Versant Capital Management Inc boosted its stake 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. Finally, UMB Bank n.a. boosted its stake in New Jersey Resources by 69.8% during the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock worth $39,000 after acquiring an additional 345 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the 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 completion of the sale, the chief operating officer now owns 37,124 shares in the company, valued at $1,707,704. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

New Jersey Resources Stock Up 0.9 %

NJR traded up $0.40 during trading on Friday, hitting $46.85. 539,199 shares of the company's stock were exchanged, compared to its average volume of 535,456. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. The business's 50 day moving average is $46.64 and its two-hundred day moving average is $46.85. New Jersey Resources Co. has a fifty-two week low of $40.51 and a fifty-two week high of $51.94. The stock has a market cap of $4.70 billion, a P/E ratio of 14.11 and a beta of 0.63.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its earnings results 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 net margin of 18.25% and a return on equity of 15.72%. During the same period in the prior year, the company earned $0.74 earnings per share. As a group, equities analysts expect that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.84%. New Jersey Resources's dividend payout ratio is currently 54.22%.

Analyst Ratings Changes

Several brokerages recently issued reports on NJR. Wells Fargo & Company increased their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. cut their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Guggenheim upped their price objective on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.75.

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.