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New Jersey Resources (NYSE:NJR) Upgraded to "Hold" at StockNews.com

New Jersey Resources logo with Utilities background

New Jersey Resources (NYSE:NJR - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

A number of other brokerages have also recently commented on NJR. Wells Fargo & Company upped their price target on shares of New Jersey Resources from $47.00 to $51.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Mizuho raised their price target on New Jersey Resources from $45.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their price objective on New Jersey Resources from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, New Jersey Resources has a consensus rating of "Hold" and an average price target of $49.00.

Read Our Latest Report on New Jersey Resources

New Jersey Resources Stock Performance

NJR stock traded up $0.42 during mid-day trading on Friday, hitting $46.80. The company had a trading volume of 696,968 shares, compared to its average volume of 386,932. New Jersey Resources has a 12 month low of $39.44 and a 12 month high of $48.68. The stock's fifty day moving average price is $46.51 and its two-hundred day moving average price is $44.95. The firm has a market cap of $4.64 billion, a PE ratio of 19.58 and a beta of 0.59. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60.

New Jersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $275.64 million for the quarter, compared to the consensus estimate of $283.56 million. New Jersey Resources had a return on equity of 11.06% and a net margin of 13.61%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. On average, analysts forecast that New Jersey Resources will post 2.95 earnings per share for the current fiscal year.

Institutional Trading of New Jersey Resources

Several institutional investors and hedge funds have recently modified their holdings of NJR. Strategy Asset Managers LLC increased its position in shares of 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 purchasing an additional 496 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in New Jersey Resources by 4.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider's stock worth $19,918,000 after buying an additional 17,664 shares in the last quarter. J. W. Coons Advisors LLC bought a new position in shares of New Jersey Resources in the 3rd quarter worth $221,000. Quest Partners LLC raised its position in shares of New Jersey Resources by 302.0% during the 3rd quarter. Quest Partners LLC now owns 39,369 shares of the utilities provider's stock valued at $1,858,000 after buying an additional 29,575 shares in the last quarter. Finally, Aptus Capital Advisors LLC lifted its holdings in shares of New Jersey Resources by 15.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 92,322 shares of the utilities provider's stock worth $4,358,000 after acquiring an additional 12,409 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

New Jersey Resources Company Profile

(Get 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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