Commonwealth Equity Services LLC Buys 1,381 Shares of New Jersey Resources Co. (NYSE:NJR)

Commonwealth Equity Services LLC grew its stake in New Jersey Resources Co. (NYSE:NJR) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 125,734 shares of the utilities provider’s stock after acquiring an additional 1,381 shares during the period. Commonwealth Equity Services LLC’s holdings in New Jersey Resources were worth $5,865,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NJR. Roxbury Financial LLC bought a new stake in New Jersey Resources during the 4th quarter worth approximately $25,000. FSA Wealth Management LLC bought a new stake in New Jersey Resources during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc increased its stake in New Jersey Resources by 9,400.0% during the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 658 shares in the last quarter. UMB Bank n.a. increased its stake in New Jersey Resources by 69.8% during the 4th 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. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in New Jersey Resources during the 4th quarter worth approximately $42,000. 70.98% of the stock is owned by institutional investors.

New Jersey Resources Trading Down 1.5 %

Shares of New Jersey Resources stock opened at $48.46 on Friday. The business has a fifty day simple moving average of $47.40 and a two-hundred day simple moving average of $47.30. New Jersey Resources Co. has a 1 year low of $40.62 and a 1 year high of $51.95. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 14.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same quarter in the prior year, the business posted $0.74 earnings per share. Research analysts forecast that New Jersey Resources Co. will post 3.15 EPS 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. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, March 11th. New Jersey Resources’s dividend payout ratio is 54.22%.

Insider Transactions at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of New Jersey Resources stock in a transaction on Monday, December 23rd. The stock was 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 owns 37,124 shares of the company’s stock, valued at approximately $1,707,704. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

NJR has been the subject of a number of research reports. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Guggenheim raised their price target 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. Finally, Wells Fargo & Company raised their price target 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, November 27th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.