Natixis Advisors LLC Has $502,000 Position in New Jersey Resources Co. (NYSE:NJR)

Natixis Advisors LLC lessened its holdings in New Jersey Resources Co. (NYSE:NJR) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,635 shares of the utilities provider’s stock after selling 269 shares during the period. Natixis Advisors LLC’s holdings in New Jersey Resources were worth $502,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in New Jersey Resources in the third quarter worth about $27,000. Neo Ivy Capital Management bought a new stake in New Jersey Resources during the second quarter worth about $31,000. Van ECK Associates Corp bought a new stake in New Jersey Resources during the third quarter worth about $52,000. Spirit of America Management Corp NY grew its stake in New Jersey Resources by 140.0% during the third quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock worth $57,000 after buying an additional 700 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in New Jersey Resources by 119.5% during the second quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider’s stock worth $52,000 after buying an additional 661 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on NJR shares. Wells Fargo & Company upped their price objective on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. StockNews.com cut shares of New Jersey Resources from a “hold” rating to a “sell” rating in a research note on Tuesday. Guggenheim upped their price objective on shares of New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Mizuho upped their price objective on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, New Jersey Resources has an average rating of “Hold” and a consensus price target of $49.75.

New Jersey Resources Price Performance

Shares of NJR stock opened at $51.61 on Friday. New Jersey Resources Co. has a 52-week low of $39.44 and a 52-week high of $51.94. The stock has a market cap of $5.12 billion, a PE ratio of 17.67 and a beta of 0.59. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60. The firm’s 50 day moving average price is $47.20 and its two-hundred day moving average price is $45.47.

New Jersey Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.49%. New Jersey Resources’s payout ratio is presently 61.64%.

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.