Charles Schwab Investment Management Inc. boosted its position in New Jersey Resources Co. (NYSE:NJR - Free Report) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,227,815 shares of the utilities provider's stock after buying an additional 33,772 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.24% of New Jersey Resources worth $57,953,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of NJR. V Square Quantitative Management LLC purchased a new stake in shares of New Jersey Resources in the third quarter valued at approximately $27,000. Neo Ivy Capital Management acquired a new stake in New Jersey Resources in the second quarter valued at $31,000. GAMMA Investing LLC grew its stake in shares of New Jersey Resources by 119.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider's stock worth $52,000 after purchasing an additional 661 shares during the period. Van ECK Associates Corp acquired a new stake in shares of New Jersey Resources in the third quarter valued at about $52,000. Finally, Spirit of America Management Corp NY boosted its holdings in New Jersey Resources by 140.0% during the third quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider's stock worth $57,000 after buying an additional 700 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
NJR has been the topic of a number of research analyst reports. Mizuho boosted their target price on New Jersey Resources from $45.00 to $47.00 and gave the stock a "neutral" rating in a research report on Friday, September 20th. Guggenheim increased their price objective on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of New Jersey Resources from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Wells Fargo & Company upped their price target on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, StockNews.com cut shares of New Jersey Resources from a "hold" rating to a "sell" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $49.75.
Read Our Latest Report on NJR
New Jersey Resources Trading Down 0.1 %
Shares of NJR stock traded down $0.03 on Friday, reaching $51.58. 273,319 shares of the stock were exchanged, compared to its average volume of 488,905. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. The stock has a market cap of $5.12 billion, a P/E ratio of 17.66 and a beta of 0.59. The firm has a 50 day moving average of $47.28 and a two-hundred day moving average of $45.52. New Jersey Resources Co. has a 1-year low of $39.44 and a 1-year high of $51.94.
New Jersey Resources Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.49%. New Jersey Resources's dividend payout ratio (DPR) is currently 61.64%.
New Jersey Resources Company Profile
(
Free Report)
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.
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