State of Alaska Department of Revenue Has $539,000 Stake in New Jersey Resources Co. (NYSE:NJR)

State of Alaska Department of Revenue boosted its stake in New Jersey Resources Co. (NYSE:NJR) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,431 shares of the utilities provider’s stock after acquiring an additional 780 shares during the quarter. State of Alaska Department of Revenue’s holdings in New Jersey Resources were worth $539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NJR. Avantax Advisory Services Inc. lifted its holdings in shares of New Jersey Resources by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 9,357 shares of the utilities provider’s stock valued at $402,000 after purchasing an additional 255 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in New Jersey Resources by 3.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider’s stock valued at $378,000 after acquiring an additional 307 shares in the last quarter. Good Life Advisors LLC boosted its position in New Jersey Resources by 1.0% during the 3rd quarter. Good Life Advisors LLC now owns 34,316 shares of the utilities provider’s stock worth $1,620,000 after acquiring an additional 333 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of New Jersey Resources by 0.9% during the 1st quarter. Ameritas Investment Partners Inc. now owns 46,847 shares of the utilities provider’s stock worth $2,010,000 after acquiring an additional 416 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of New Jersey Resources by 2.4% in the third 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. 70.98% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Stock Down 1.2 %

New Jersey Resources stock opened at $46.38 on Friday. New Jersey Resources Co. has a fifty-two week low of $39.44 and a fifty-two week high of $48.68. The firm has a market capitalization of $4.60 billion, a PE ratio of 19.41 and a beta of 0.59. The company’s 50-day moving average is $46.50 and its 200-day moving average is $44.93. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.41.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). New Jersey Resources had a return on equity of 11.06% and a net margin of 13.61%. The business had revenue of $275.64 million for the quarter, compared to analyst estimates of $283.56 million. During the same period last year, the firm earned $0.10 EPS. New Jersey Resources’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts anticipate that New Jersey Resources Co. will post 2.95 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The firm also recently announced 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.88%. New Jersey Resources’s payout ratio is presently 75.31%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NJR shares. Mizuho raised their target price on shares of 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 downgraded New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target 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. Finally, Wells Fargo & Company boosted their price target 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.00.

New Jersey Resources Company 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.