Good Life Advisors LLC Has $1.62 Million Position in New Jersey Resources Co. (NYSE:NJR)

Good Life Advisors LLC lifted its holdings in New Jersey Resources Co. (NYSE:NJR) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 34,643 shares of the utilities provider’s stock after buying an additional 327 shares during the quarter. Good Life Advisors LLC’s holdings in New Jersey Resources were worth $1,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NJR. CWM LLC lifted its stake in shares of New Jersey Resources by 26.7% in the 3rd quarter. CWM LLC now owns 2,860 shares of the utilities provider’s stock valued at $135,000 after purchasing an additional 602 shares during the last quarter. Creative Planning lifted its stake in shares of New Jersey Resources by 2.4% in the 3rd quarter. Creative Planning now owns 20,514 shares of the utilities provider’s stock valued at $968,000 after purchasing an additional 481 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of New Jersey Resources in the 3rd quarter valued at $27,000. International Assets Investment Management LLC lifted its stake in shares of New Jersey Resources by 4,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 83,638 shares of the utilities provider’s stock valued at $3,948,000 after purchasing an additional 81,866 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of New Jersey Resources by 27.2% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 33,264 shares of the utilities provider’s stock valued at $1,570,000 after purchasing an additional 7,105 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NJR. Wells Fargo & Company lifted 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. Guggenheim boosted their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Insider Transactions at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total transaction of $229,218.00. Following the transaction, the chief operating officer now owns 37,124 shares in the company, valued at approximately $1,707,704. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

New Jersey Resources Stock Up 1.4 %

New Jersey Resources stock opened at $46.29 on Wednesday. The firm has a fifty day moving average price of $46.75 and a two-hundred day moving average price of $46.86. New Jersey Resources Co. has a fifty-two week low of $40.51 and a fifty-two week high of $51.94. 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 cap of $4.64 billion, a price-to-earnings ratio of 13.94 and a beta of 0.63.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings data 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 quarter in the prior year, the business posted $0.74 EPS. As a group, analysts forecast that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.89%. New Jersey Resources’s payout ratio 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.