12,505 Shares in New Jersey Resources Co. (NYSE:NJR) Purchased by Reaves W H & Co. Inc.

Reaves W H & Co. Inc. acquired a new position in New Jersey Resources Co. (NYSE:NJR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,505 shares of the utilities provider's stock, valued at approximately $583,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of New Jersey Resources by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,227,815 shares of the utilities provider's stock worth $57,953,000 after buying an additional 33,772 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in New Jersey Resources by 59.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,276 shares of the utilities provider's stock worth $1,552,000 after purchasing an additional 12,353 shares in the last quarter. Quest Partners LLC lifted its position in New Jersey Resources by 302.0% in the third quarter. Quest Partners LLC now owns 39,369 shares of the utilities provider's stock worth $1,858,000 after purchasing an additional 29,575 shares during the period. Segall Bryant & Hamill LLC boosted its stake in New Jersey Resources by 4.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider's stock valued at $19,918,000 after purchasing an additional 17,664 shares in the last quarter. Finally, Holocene Advisors LP increased its position in shares of New Jersey Resources by 22.2% during the 3rd quarter. Holocene Advisors LP now owns 60,162 shares of the utilities provider's stock valued at $2,840,000 after purchasing an additional 10,946 shares during the period. Institutional investors own 70.98% of the company's stock.

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New Jersey Resources Trading Up 0.8 %

NJR stock traded up $0.39 during mid-day trading on Friday, reaching $47.79. 645,252 shares of the stock traded hands, compared to its average volume of 545,831. The stock's fifty day moving average is $46.89 and its 200-day moving average is $47.09. The company has a market cap of $4.79 billion, a P/E ratio of 14.39 and a beta of 0.57. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a 52-week low of $40.62 and a 52-week high of $51.94.

New Jersey Resources (NYSE:NJR - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates 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 last year, the business posted $0.74 earnings per share. As a group, sell-side analysts expect that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.77%. New Jersey Resources's payout ratio is 54.22%.

Insider Buying and Selling at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $46.00, for a total value of $229,218.00. Following the sale, the chief operating officer now directly owns 37,124 shares of the company's stock, valued at approximately $1,707,704. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

NJR has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on New Jersey Resources from $51.00 to $54.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Guggenheim raised their price objective on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped 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 report on Tuesday, January 28th. Four 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. Based on data from MarketBeat.com, the company currently has a consensus 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.