SG Americas Securities LLC Grows Stock Position in New Jersey Resources Co. (NYSE:NJR)

SG Americas Securities LLC increased its holdings in shares of New Jersey Resources Co. (NYSE:NJRGet Rating) by 78.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,341 shares of the utilities provider’s stock after buying an additional 11,153 shares during the quarter. SG Americas Securities LLC’s holdings in New Jersey Resources were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division purchased a new position in New Jersey Resources during the third quarter worth about $388,000. Strategy Asset Managers LLC purchased a new position in shares of New Jersey Resources in the 3rd quarter worth about $339,000. Alps Advisors Inc. purchased a new position in shares of New Jersey Resources in the 2nd quarter worth about $350,000. BNP Paribas Arbitrage SA raised its holdings in shares of New Jersey Resources by 38.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 56,473 shares of the utilities provider’s stock worth $2,515,000 after purchasing an additional 15,829 shares during the period. Finally, Confluence Investment Management LLC raised its holdings in shares of New Jersey Resources by 1.3% in the 3rd quarter. Confluence Investment Management LLC now owns 434,538 shares of the utilities provider’s stock worth $16,817,000 after purchasing an additional 5,462 shares during the period. 74.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Friday, January 13th. Guggenheim dropped their target price on New Jersey Resources from $41.00 to $40.00 in a report on Monday, October 24th. Wells Fargo & Company decreased their price target on New Jersey Resources from $51.00 to $50.00 and set an “equal weight” rating for the company in a report on Tuesday, January 10th. Mizuho lifted their price objective on shares of New Jersey Resources from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, November 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of New Jersey Resources from $40.00 to $46.00 and gave the company an “underweight” rating in a research note on Monday, January 9th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.50.

New Jersey Resources Trading Down 2.1 %

NJR opened at $49.44 on Thursday. The firm has a market capitalization of $4.77 billion, a P/E ratio of 17.29, a P/E/G ratio of 3.44 and a beta of 0.63. The firm’s 50 day moving average is $49.07 and its 200-day moving average is $45.65. New Jersey Resources Co. has a 52-week low of $37.79 and a 52-week high of $51.59. The company has a quick ratio of 0.42, a current ratio of 0.68 and a debt-to-equity ratio of 1.37.

New Jersey Resources (NYSE:NJRGet Rating) last released its quarterly earnings results on Thursday, November 17th. The utilities provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. New Jersey Resources had a net margin of 9.46% and a return on equity of 13.56%. The business had revenue of $765.49 million during the quarter, compared to the consensus estimate of $602.80 million. Analysts expect that New Jersey Resources Co. will post 2.48 EPS for the current fiscal year.

New Jersey Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Wednesday, December 14th were given a dividend of $0.39 per share. The ex-dividend date was Tuesday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.16%. This is an increase from New Jersey Resources’s previous quarterly dividend of $0.36. New Jersey Resources’s dividend payout ratio (DPR) is presently 54.55%.

Insider Transactions at New Jersey Resources

In other New Jersey Resources news, COO Patrick J. Migliaccio sold 3,000 shares of New Jersey Resources stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $49.16, for a total value of $147,480.00. Following the completion of the transaction, the chief operating officer now owns 40,169 shares of the company’s stock, valued at $1,974,708.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

New Jersey Resources Profile

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New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. 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 569,300 residential and commercial customers throughout 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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Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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