New Jersey Resources Co. (NYSE:NJR) Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 2,052.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,238 shares of the utilities provider’s stock after acquiring an additional 29,787 shares during the quarter. Allworth Financial LP’s holdings in New Jersey Resources were worth $1,456,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in shares of New Jersey Resources during the fourth quarter worth about $25,000. V Square Quantitative Management LLC acquired a new stake in shares of New Jersey Resources in the 3rd quarter valued at about $27,000. FSA Wealth Management LLC purchased a new position in New Jersey Resources during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc increased its position in New Jersey Resources by 9,400.0% during the fourth quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock worth $31,000 after buying an additional 658 shares during the period. Finally, UMB Bank n.a. lifted its stake in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after buying an additional 345 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of New Jersey Resources stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $46.00, for a total transaction of $229,218.00. Following the completion of the sale, the chief operating officer now directly owns 37,124 shares in the company, valued at approximately $1,707,704. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered 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 research report on Tuesday, January 28th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Wells Fargo & Company lifted their price objective on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Guggenheim increased their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.75.

New Jersey Resources Stock Performance

Shares of NJR opened at $46.29 on Wednesday. The stock has a market capitalization of $4.64 billion, a P/E ratio of 13.94 and a beta of 0.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.36 and a current ratio of 0.89. New Jersey Resources Co. has a 1 year low of $40.51 and a 1 year high of $51.94. The company’s fifty day moving average is $46.75 and its two-hundred day moving average is $46.86.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (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 quarter last year, the business earned $0.74 EPS. On average, sell-side analysts predict that New Jersey Resources Co. will post 3.1 earnings per share for the current year.

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.89%. New Jersey Resources’s dividend payout ratio is currently 54.22%.

New Jersey Resources Company 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.