Segall Bryant & Hamill LLC Increases Stock Position in New Jersey Resources Co. (NYSE:NJR)

Segall Bryant & Hamill LLC boosted its holdings in New Jersey Resources Co. (NYSE:NJR) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,000 shares of the utilities provider’s stock after buying an additional 17,664 shares during the period. Segall Bryant & Hamill LLC’s holdings in New Jersey Resources were worth $19,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in New Jersey Resources by 39.9% in the 2nd quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider’s stock valued at $26,430,000 after purchasing an additional 176,396 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of New Jersey Resources by 41.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,031 shares of the utilities provider’s stock worth $2,061,000 after purchasing an additional 14,150 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of New Jersey Resources by 192.9% in the second quarter. Victory Capital Management Inc. now owns 387,950 shares of the utilities provider’s stock worth $16,581,000 after purchasing an additional 255,503 shares during the last quarter. Bank of New York Mellon Corp raised its stake in New Jersey Resources by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,284,245 shares of the utilities provider’s stock valued at $54,889,000 after purchasing an additional 40,094 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in New Jersey Resources by 10.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 155,658 shares of the utilities provider’s stock valued at $6,653,000 after purchasing an additional 14,338 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NJR. Mizuho increased their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. JPMorgan Chase & Co. increased their price objective on New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company boosted their target price on New Jersey Resources from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $49.00.

New Jersey Resources Price Performance

Shares of New Jersey Resources stock opened at $48.79 on Thursday. The stock has a market capitalization of $4.84 billion, a P/E ratio of 20.39 and a beta of 0.59. New Jersey Resources Co. has a one year low of $39.44 and a one year high of $48.85. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.41. The business’s 50 day simple moving average is $46.73 and its two-hundred day simple moving average is $45.17.

New Jersey Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.69%. New Jersey Resources’s dividend payout ratio is currently 75.31%.

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.