Janney Montgomery Scott LLC Buys 9,947 Shares of New Jersey Resources Co. (NYSE:NJR)

Janney Montgomery Scott LLC lifted its stake in shares of New Jersey Resources Co. (NYSE:NJRFree Report) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,218 shares of the utilities provider’s stock after buying an additional 9,947 shares during the period. Janney Montgomery Scott LLC owned about 0.19% of New Jersey Resources worth $7,819,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NJR. Norges Bank bought a new position in shares of New Jersey Resources in the fourth quarter valued at approximately $33,403,000. Confluence Investment Management LLC bought a new position in shares of New Jersey Resources during the 1st quarter valued at approximately $19,337,000. Vanguard Group Inc. lifted its holdings in New Jersey Resources by 3.3% during the third quarter. Vanguard Group Inc. now owns 11,564,868 shares of the utilities provider’s stock valued at $469,881,000 after purchasing an additional 373,802 shares during the last quarter. Boston Partners bought a new position in New Jersey Resources during the fourth quarter worth about $12,779,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of New Jersey Resources by 83,963.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 136,182 shares of the utilities provider’s stock worth $6,071,000 after purchasing an additional 136,020 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other news, CEO Stephen D. Westhoven sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $42.82, for a total value of $856,400.00. Following the completion of the sale, the chief executive officer now directly owns 198,705 shares in the company, valued at approximately $8,508,548.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Argus upgraded New Jersey Resources to a “strong-buy” rating in a research report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, New Jersey Resources has a consensus rating of “Hold” and an average target price of $45.00.

Check Out Our Latest Stock Report on New Jersey Resources

New Jersey Resources Stock Performance

NYSE:NJR opened at $42.04 on Tuesday. The stock has a market cap of $4.15 billion, a P/E ratio of 16.61 and a beta of 0.60. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 1.25. The business’s 50-day moving average price is $43.23 and its two-hundred day moving average price is $42.77. New Jersey Resources Co. has a twelve month low of $38.92 and a twelve month high of $47.04.

New Jersey Resources (NYSE:NJRGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.08. New Jersey Resources had a net margin of 14.46% and a return on equity of 12.16%. The business had revenue of $657.91 million during the quarter, compared to analysts’ expectations of $669.64 million. As a group, equities analysts predict that New Jersey Resources Co. will post 2.94 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Wednesday, June 12th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, June 12th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.00%. New Jersey Resources’s dividend payout ratio is 66.40%.

About New Jersey Resources

(Free Report)

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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Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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