New Jersey Resources Co. (NYSE:NJR) Shares Purchased by Strategy Asset Managers LLC

Strategy Asset Managers LLC grew its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 6.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,592 shares of the utilities provider’s stock after purchasing an additional 496 shares during the quarter. Strategy Asset Managers LLC’s holdings in New Jersey Resources were worth $406,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in New Jersey Resources during the third quarter worth approximately $27,000. Neo Ivy Capital Management acquired a new position in New Jersey Resources during the 2nd quarter worth approximately $31,000. Van ECK Associates Corp acquired a new position in shares of New Jersey Resources during the third quarter worth $52,000. Spirit of America Management Corp NY boosted its position in New Jersey Resources by 140.0% in the 3rd quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock valued at $57,000 after buying an additional 700 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in New Jersey Resources by 119.5% in the second quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 661 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

New Jersey Resources Price Performance

NYSE NJR opened at $48.79 on Thursday. New Jersey Resources Co. has a 1 year low of $39.44 and a 1 year high of $48.85. The stock’s 50-day moving average price is $46.73 and its two-hundred day moving average price is $45.17. The company has a current ratio of 0.60, a quick ratio of 0.41 and a debt-to-equity ratio of 1.30. The company has a market cap of $4.84 billion, a PE ratio of 20.41 and a beta of 0.59.

New Jersey Resources Announces Dividend

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

About New Jersey Resources

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.