Stonebridge Financial Group LLC Makes New Investment in New Jersey Resources Co. (NYSE:NJR)

Stonebridge Financial Group LLC acquired a new position in New Jersey Resources Co. (NYSE:NJR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,845 shares of the utilities provider’s stock, valued at approximately $86,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FSA Wealth Management LLC acquired a new position in shares of New Jersey Resources during the 3rd quarter valued at $27,000. V Square Quantitative Management LLC acquired a new position in shares of New Jersey Resources during the third quarter valued at about $27,000. Versant Capital Management Inc boosted its position 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 in the last quarter. UMB Bank n.a. grew its stake in shares of New Jersey Resources by 69.8% in the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after buying an additional 345 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in New Jersey Resources in the 4th quarter valued at about $51,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at New Jersey Resources

In related 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 sale, the chief operating officer now directly owns 37,124 shares in the company, valued at approximately $1,707,704. This trade represents a 11.83 % decrease in their ownership of the stock. The sale 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 Analysts Forecast Growth

Several research analysts have issued reports on NJR shares. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Guggenheim lifted their price target on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on shares of 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, Wells Fargo & Company raised their price objective on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, New Jersey Resources presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

New Jersey Resources Stock Down 0.3 %

Shares of NYSE:NJR opened at $45.85 on Thursday. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 13.81 and a beta of 0.63. The business’s 50 day moving average is $47.03 and its 200 day moving average is $46.88. New Jersey Resources Co. has a 12-month low of $40.34 and a 12-month high of $51.94. The company has a quick ratio of 0.36, a current ratio of 0.89 and a debt-to-equity ratio of 1.29.

New Jersey Resources (NYSE:NJR) last posted its earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.15. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. During the same period last year, the business posted $0.74 earnings per share. On average, sell-side analysts forecast that New Jersey Resources Co. will post 3.1 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.93%. New Jersey Resources’s dividend payout ratio (DPR) is 54.22%.

New Jersey Resources 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.