Quantbot Technologies LP purchased a new position in New Jersey Resources Co. (NYSE:NJR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,208 shares of the utilities provider's stock, valued at approximately $1,001,000.
A number of other large investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of New Jersey Resources by 3.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider's stock worth $378,000 after acquiring an additional 307 shares in the last quarter. Good Life Advisors LLC boosted its position in shares of New Jersey Resources by 1.0% in the 3rd quarter. Good Life Advisors LLC now owns 34,316 shares of the utilities provider's stock valued at $1,620,000 after purchasing an additional 333 shares during the period. Creative Planning increased its position in New Jersey Resources by 2.4% during 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 period. Strategy Asset Managers LLC lifted its stake 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 valued at $406,000 after buying an additional 496 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake 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 valued at $411,000 after buying an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on NJR. Guggenheim lifted their target price on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a "neutral" rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased 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 note on Thursday, August 15th. Mizuho boosted their target price on New Jersey Resources from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, September 20th. StockNews.com lowered shares of New Jersey Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company upped their price objective on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $49.75.
Get Our Latest Report on New Jersey Resources
New Jersey Resources Price Performance
NJR stock traded down $0.49 on Monday, reaching $51.09. 205,619 shares of the company's stock were exchanged, compared to its average volume of 487,612. The stock has a fifty day moving average of $47.28 and a 200-day moving average of $45.54. The firm has a market cap of $5.10 billion, a PE ratio of 17.62 and a beta of 0.59. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. New Jersey Resources Co. has a twelve month low of $39.44 and a twelve month high of $51.94.
New Jersey Resources Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources's dividend payout ratio (DPR) is 61.64%.
New Jersey Resources Company Profile
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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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