By otakuyassine3@gmail.com 
LPL Financial LLC decreased its holdings in shares of New Jersey Resources Co. (NYSE:NJR – Free Report) by 23.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 52,911 shares of the utilities provider’s stock after selling 16,238 shares during the period. LPL Financial LLC’s holdings in New Jersey Resources were worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the business. Roxbury Financial LLC acquired a new stake in shares of New Jersey Resources during the 4th quarter valued at approximately $25,000. Versant Capital Management Inc raised its holdings 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 purchasing an additional 658 shares during the last quarter. UMB Bank n.a. boosted its position in New Jersey Resources by 69.8% during the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 345 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in New Jersey Resources in the fourth quarter valued at $42,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of New Jersey Resources in the fourth quarter valued at $51,000. 70.98% of the stock is owned by hedge funds and other institutional investors.
New Jersey Resources Stock Performance
Shares of NJR opened at $47.71 on Monday. New Jersey Resources Co. has a 1 year low of $40.62 and a 1 year high of $51.95. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 14.37 and a beta of 0.58. The firm has a fifty day moving average of $47.75 and a 200-day moving average of $47.44.
New Jersey Resources (NYSE:NJR – Get Free Report) last issued its earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share 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 in the previous year, the business earned $0.74 earnings per share. As a group, equities analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current year.
New Jersey Resources Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Tuesday, March 11th. New Jersey Resources’s dividend payout ratio (DPR) is presently 54.22%.
Insider Buying and Selling at New Jersey Resources
In related news, CFO Roberto Bel sold 1,173 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $58,650.00. Following the completion of the sale, the chief financial officer now owns 22,649 shares in the company, valued at $1,132,450. This represents a 4.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.72% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on NJR shares. Guggenheim raised their price objective 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. New Street Research set a $51.00 price target on New Jersey Resources in a research report on Tuesday, April 1st. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Jefferies Financial Group initiated coverage on New Jersey Resources in a research report on Tuesday, April 1st. They set a “hold” rating and a $51.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced 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. Five 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. According to data from MarketBeat, New Jersey Resources presently has an average rating of “Hold” and a consensus price target of $51.50.
Check Out Our Latest Research Report on NJR
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.
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