Intech Investment Management LLC Has $892,000 Stake in New Jersey Resources Co. (NYSE:NJR)

Intech Investment Management LLC boosted its holdings in New Jersey Resources Co. (NYSE:NJR) by 110.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,897 shares of the utilities provider’s stock after purchasing an additional 9,918 shares during the quarter. Intech Investment Management LLC’s holdings in New Jersey Resources were worth $892,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of New Jersey Resources by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 60,608 shares of the utilities provider’s stock valued at $2,601,000 after buying an additional 6,039 shares during the last quarter. Cetera Advisors LLC acquired a new position in New Jersey Resources during the 1st quarter valued at about $312,000. Boston Partners increased its holdings in New Jersey Resources by 65.5% during the 1st quarter. Boston Partners now owns 480,001 shares of the utilities provider’s stock worth $20,623,000 after purchasing an additional 190,028 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of New Jersey Resources by 1.7% in the second quarter. Confluence Investment Management LLC now owns 458,483 shares of the utilities provider’s stock worth $19,596,000 after purchasing an additional 7,836 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of New Jersey Resources by 119.5% in the second quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 661 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

New Jersey Resources Stock Up 1.8 %

New Jersey Resources stock opened at $51.61 on Friday. The firm has a 50 day moving average price of $47.20 and a 200-day moving average price of $45.47. 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 $51.94. The company has a market capitalization of $5.12 billion, a P/E ratio of 17.67 and a beta of 0.59.

New Jersey Resources Announces Dividend

The company also recently announced 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. This represents a $1.80 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio is currently 61.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NJR shares. Wells Fargo & Company increased their price target on New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. StockNews.com downgraded shares of New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Tuesday. Mizuho lifted their target price on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Guggenheim increased their price target on New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued 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 an average price target of $49.75.

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.