Arkadios Wealth Advisors Raises Holdings in NewJersey Resources Corporation $NJR

Arkadios Wealth Advisors lifted its holdings in shares of NewJersey Resources Corporation (NYSE:NJR) by 9.9% during the second quarter, Holdings Channel.com reports. The fund owned 13,527 shares of the utilities provider’s stock after acquiring an additional 1,216 shares during the period. Arkadios Wealth Advisors’ holdings in NewJersey Resources were worth $606,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Hexagon Capital Partners LLC grew its position in NewJersey Resources by 42.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 839 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 248 shares during the last quarter. Jacobi Capital Management LLC boosted its position in NewJersey Resources by 1.0% in the first quarter. Jacobi Capital Management LLC now owns 28,505 shares of the utilities provider’s stock valued at $1,398,000 after buying an additional 275 shares during the last quarter. IFP Advisors Inc boosted its position in NewJersey Resources by 23.1% in the second quarter. IFP Advisors Inc now owns 1,504 shares of the utilities provider’s stock valued at $67,000 after buying an additional 282 shares during the last quarter. Xponance Inc. boosted its holdings in shares of NewJersey Resources by 1.9% in the 1st quarter. Xponance Inc. now owns 15,310 shares of the utilities provider’s stock valued at $751,000 after acquiring an additional 288 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of NewJersey Resources by 2.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,553 shares of the utilities provider’s stock valued at $524,000 after acquiring an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Analyst Ratings Changes

NJR has been the topic of several recent research reports. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price target (up from $49.00) on shares of NewJersey Resources in a research report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewJersey Resources in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, NewJersey Resources has an average rating of “Hold” and a consensus price target of $51.43.

NewJersey Resources Stock Performance

Shares of NYSE NJR opened at $44.07 on Tuesday. The company’s fifty day moving average price is $46.53 and its 200 day moving average price is $46.43. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $51.94. The company has a market capitalization of $4.43 billion, a PE ratio of 10.78 and a beta of 0.64. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.48 and a current ratio of 0.76.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings results on Friday, May 19th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. The firm had revenue of $912.32 million for the quarter. On average, research analysts predict that NewJersey Resources Corporation will post 3.15 earnings per share for the current year.

NewJersey Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 22nd were given a dividend of $0.475 per share. This is an increase from NewJersey Resources’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, September 22nd. NewJersey Resources’s dividend payout ratio (DPR) is currently 46.45%.

NewJersey 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.