New Jersey Resources Co. (NYSE:NJR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,597 shares of the utilities provider’s stock after selling 2,984 shares during the period. Mutual of America Capital Management LLC’s holdings in New Jersey Resources were worth $2,530,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NJR. Victory Capital Management Inc. boosted its position in shares of New Jersey Resources by 192.9% during the 2nd quarter. Victory Capital Management Inc. now owns 387,950 shares of the utilities provider’s stock worth $16,581,000 after purchasing an additional 255,503 shares during the period. Boston Partners lifted its stake in New Jersey Resources by 65.5% during the 1st quarter. Boston Partners now owns 480,001 shares of the utilities provider’s stock worth $20,623,000 after acquiring an additional 190,028 shares in the last quarter. AQR Capital Management LLC boosted its holdings in New Jersey Resources by 39.9% during the 2nd quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider’s stock valued at $26,430,000 after acquiring an additional 176,396 shares during the period. Dimensional Fund Advisors LP increased its stake in New Jersey Resources by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,956,772 shares of the utilities provider’s stock worth $126,372,000 after purchasing an additional 154,441 shares during the period. Finally, Algert Global LLC lifted its position in shares of New Jersey Resources by 176.0% during the second quarter. Algert Global LLC now owns 185,637 shares of the utilities provider’s stock worth $7,934,000 after purchasing an additional 118,377 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

New Jersey Resources Trading Up 2.4 %

Shares of New Jersey Resources stock opened at $51.04 on Friday. The company has a fifty day simple moving average of $46.92 and a 200-day simple moving average of $45.28. The company has a current ratio of 0.60, a quick ratio of 0.41 and a debt-to-equity ratio of 1.30. New Jersey Resources Co. has a 12-month low of $39.44 and a 12-month high of $51.16. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 21.36 and a beta of 0.59.

New Jersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.53%. New Jersey Resources’s payout ratio is 75.31%.

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.