LPL Financial LLC Sells 16,238 Shares of New Jersey Resources Co. (NYSE:NJR)

LPL Financial LLC reduced its position in shares of New Jersey Resources Co. (NYSE:NJR) by 23.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,911 shares of the utilities provider’s stock after selling 16,238 shares during the period. LPL Financial LLC owned approximately 0.05% of New Jersey Resources worth $2,468,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Roxbury Financial LLC acquired a new stake in shares of New Jersey Resources during the fourth quarter worth $25,000. Versant Capital Management Inc raised its stake in shares of 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 during the period. UMB Bank n.a. lifted its stake in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 345 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in New Jersey Resources in the 4th quarter valued at approximately $42,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in New Jersey Resources in the 4th quarter worth approximately $51,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Roberto Bel sold 1,173 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $50.00, for a total transaction of $58,650.00. Following the sale, the chief financial officer now directly owns 22,649 shares in the company, valued at approximately $1,132,450. This represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NJR shares. New Street Research set a $51.00 target price on New Jersey Resources in a research note on Tuesday, April 1st. Jefferies Financial Group started coverage on shares of New Jersey Resources in a report on Tuesday, April 1st. They issued a “hold” rating and a $51.00 target price on the stock. Guggenheim upped their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price objective 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. Finally, StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.50.

New Jersey Resources Stock Up 0.2 %

NYSE NJR opened at $47.71 on Monday. The business’s fifty day simple moving average is $47.75 and its 200-day simple moving average is $47.44. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. The firm has a market cap of $4.78 billion, a PE ratio of 14.37 and a beta of 0.58. New Jersey Resources Co. has a 52 week low of $40.62 and a 52 week high of $51.95.

New Jersey Resources (NYSE:NJR) last posted its earnings results on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $0.74 EPS. As a group, equities analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.77%. New Jersey Resources’s dividend payout ratio is presently 54.22%.

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.