New Jersey Resources Co. (NYSE:NJR) Shares Sold by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. lowered its position in shares of New Jersey Resources Co. (NYSE:NJR) by 27.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,035 shares of the utilities provider’s stock after selling 383 shares during the quarter. SRS Capital Advisors Inc.’s holdings in New Jersey Resources were worth $48,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in New Jersey Resources during the fourth quarter worth approximately $25,000. FSA Wealth Management LLC purchased a new position in shares of New Jersey Resources in the 3rd quarter valued at $27,000. Versant Capital Management Inc raised its stake in shares of New Jersey Resources by 9,400.0% in the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 658 shares during the period. UMB Bank n.a. raised 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 acquiring an additional 345 shares during the period. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of New Jersey Resources in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In other news, COO Patrick J. Migliaccio sold 4,983 shares of New Jersey Resources stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the transaction, the chief operating officer now directly owns 37,124 shares of the company’s stock, valued at approximately $1,707,704. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is owned by company insiders.

New Jersey Resources Price Performance

NJR opened at $47.79 on Friday. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 14.39 and a beta of 0.57. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a twelve month low of $40.62 and a twelve month high of $51.94. The company has a fifty day simple moving average of $46.91 and a 200 day simple moving average of $47.11.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share 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 last year, the company posted $0.74 earnings per share. Equities research analysts expect that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, March 11th. New Jersey Resources’s dividend payout ratio is currently 54.22%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NJR. Guggenheim raised their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company raised their price target on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.75.

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.