Segall Bryant & Hamill LLC Boosts Holdings in New Jersey Resources Co. (NYSE:NJR)

Segall Bryant & Hamill LLC lifted its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 422,000 shares of the utilities provider's stock after purchasing an additional 17,664 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.43% of New Jersey Resources worth $19,918,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC bought a new stake in shares of New Jersey Resources during the 3rd quarter valued at $221,000. Quest Partners LLC boosted its stake in New Jersey Resources by 302.0% during the third quarter. Quest Partners LLC now owns 39,369 shares of the utilities provider's stock worth $1,858,000 after acquiring an additional 29,575 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in New Jersey Resources by 15.5% in the third quarter. Aptus Capital Advisors LLC now owns 92,322 shares of the utilities provider's stock worth $4,358,000 after purchasing an additional 12,409 shares during the period. Aigen Investment Management LP bought a new position in shares of New Jersey Resources during the third quarter valued at approximately $729,000. Finally, Greenwood Capital Associates LLC purchased a new position in shares of New Jersey Resources during the third quarter valued at approximately $1,187,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

New Jersey Resources Stock Up 0.1 %

Shares of New Jersey Resources stock opened at $48.79 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.60 and a debt-to-equity ratio of 1.30. New Jersey Resources Co. has a twelve month low of $39.44 and a twelve month high of $48.85. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 20.41 and a beta of 0.59. The company's 50 day moving average is $46.78 and its 200 day moving average is $45.20.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, December 11th. New Jersey Resources's payout ratio is currently 75.31%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on 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 increased their target price on New Jersey Resources from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. StockNews.com raised New Jersey Resources from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Finally, Mizuho increased their price objective on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a "neutral" rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $49.00.

New Jersey Resources Profile

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.