New Jersey Resources Co. (NYSE:NJR) Stock Position Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in New Jersey Resources Co. (NYSE:NJR) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,347 shares of the utilities provider’s stock after acquiring an additional 1,162 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in New Jersey Resources were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in NJR. Bank of New York Mellon Corp boosted its holdings in New Jersey Resources by 8.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider’s stock worth $56,526,000 after purchasing an additional 96,393 shares during the period. Cibc World Markets Corp bought a new position in shares of New Jersey Resources in the 4th quarter worth about $429,000. Raymond James Financial Inc. bought a new position in shares of New Jersey Resources in the 4th quarter worth about $3,665,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of New Jersey Resources by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,267,456 shares of the utilities provider’s stock valued at $59,127,000 after buying an additional 39,641 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of New Jersey Resources by 5.0% during the 4th quarter. Cetera Investment Advisers now owns 11,569 shares of the utilities provider’s stock valued at $540,000 after buying an additional 555 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

New Jersey Resources Stock Up 0.1%

NJR stock opened at $44.84 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a market capitalization of $4.50 billion, a P/E ratio of 13.51 and a beta of 0.62. New Jersey Resources Co. has a 52-week low of $41.68 and a 52-week high of $51.95. The company’s 50 day simple moving average is $47.22 and its 200-day simple moving average is $47.52.

New Jersey Resources (NYSE:NJR) last announced its earnings results on Monday, May 5th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.11. The company had revenue of $913.03 million for the quarter, compared to the consensus estimate of $732.00 million. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. The company’s revenue was up 38.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.41 EPS. As a group, equities research analysts anticipate that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 annualized dividend and a yield of 4.01%. New Jersey Resources’s dividend payout ratio (DPR) is presently 43.69%.

Insider Buying and Selling at New Jersey Resources

In other news, CFO Roberto Bel sold 1,173 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $50.00, for a total value of $58,650.00. Following the transaction, the chief financial officer now directly owns 22,649 shares of the company’s stock, valued at approximately $1,132,450. This represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NJR shares. Mizuho cut their target price on New Jersey Resources from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, May 15th. New Street Research set a $51.00 price objective on shares of New Jersey Resources in a research report on Tuesday, April 1st. Wall Street Zen upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. dropped their price target on shares of New Jersey Resources from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group began coverage on New Jersey Resources in a research report on Tuesday, April 1st. They set a “hold” rating and a $51.00 price objective for the company. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.67.

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.