FSA Wealth Management LLC Takes $27,000 Position in New Jersey Resources Co. (NYSE:NJR)

FSA Wealth Management LLC bought a new position in shares of New Jersey Resources Co. (NYSE:NJR) during the 3rd quarter, Holdings Channel.com reports. The firm bought 574 shares of the utilities provider’s stock, valued at approximately $27,000.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of New Jersey Resources during the 3rd quarter worth about $27,000. Neo Ivy Capital Management acquired a new position in New Jersey Resources during the second quarter worth approximately $31,000. Van ECK Associates Corp purchased a new position in New Jersey Resources during the third quarter worth approximately $52,000. Spirit of America Management Corp NY grew its stake in shares of New Jersey Resources by 140.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock valued at $57,000 after buying an additional 700 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of New Jersey Resources by 119.5% during the 2nd 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. 70.98% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Stock Down 1.1 %

NYSE NJR opened at $51.00 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. New Jersey Resources Co. has a fifty-two week low of $39.44 and a fifty-two week high of $51.94. The business has a 50 day moving average price of $47.35 and a two-hundred day moving average price of $45.59. The stock has a market cap of $5.09 billion, a PE ratio of 17.47 and a beta of 0.59.

New Jersey Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources’s payout ratio is 61.64%.

Analyst Ratings Changes

A number of research firms have issued reports on NJR. JPMorgan Chase & Co. boosted their price target on New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Guggenheim boosted their target price on New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Mizuho raised their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, September 20th. StockNews.com downgraded shares of New Jersey Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company raised their target price 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. One 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.75.

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.