Fmr LLC Decreases Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

FMR LLC reduced its holdings in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 810,513 shares of the utilities provider's stock after selling 61,595 shares during the period. FMR LLC owned 0.82% of New Jersey Resources worth $38,256,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its holdings in New Jersey Resources by 3.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider's stock worth $378,000 after buying an additional 307 shares during the last quarter. Good Life Advisors LLC raised its holdings in New Jersey Resources by 1.0% in the third quarter. Good Life Advisors LLC now owns 34,316 shares of the utilities provider's stock worth $1,620,000 after buying an additional 333 shares during the last quarter. Creative Planning raised its holdings in New Jersey Resources by 2.4% in the third quarter. Creative Planning now owns 20,514 shares of the utilities provider's stock worth $968,000 after buying an additional 481 shares during the last quarter. Strategy Asset Managers LLC raised its holdings in New Jersey Resources by 6.1% in the third quarter. Strategy Asset Managers LLC now owns 8,592 shares of the utilities provider's stock worth $406,000 after buying an additional 496 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in New Jersey Resources by 6.3% in the third quarter. Inspire Investing LLC now owns 8,698 shares of the utilities provider's stock worth $411,000 after buying an additional 515 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NJR has been the subject of several recent analyst reports. Guggenheim lifted their target price on shares of New Jersey Resources from $46.00 to $49.00 and gave the stock a "neutral" rating in a report on Wednesday, November 27th. Mizuho lifted their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a "neutral" rating in a research note on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on shares of New Jersey Resources from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Thursday, August 15th. Wells Fargo & Company lifted their price target 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. Finally, StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $49.75.

New Jersey Resources Stock Performance

NYSE NJR traded down $0.65 during trading hours on Monday, hitting $48.53. 515,715 shares of the company's stock traded hands, compared to its average volume of 487,809. The business's fifty day moving average price is $47.59 and its two-hundred day moving average price is $45.74. The company has a current ratio of 0.62, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $4.84 billion, a P/E ratio of 16.84 and a beta of 0.63. New Jersey Resources Co. has a 52 week low of $39.44 and a 52 week high of $51.94.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its earnings results on Monday, November 25th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $395.78 million during the quarter, compared to analyst estimates of $406.97 million. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share. Equities research analysts predict that New Jersey Resources Co. will post 3.05 EPS for the current year.

New Jersey Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.71%. New Jersey Resources's payout ratio is currently 61.64%.

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.