New Jersey Resources Co. (NYSE:NJR) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of New Jersey Resources Co. (NYSE:NJR) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 271,194 shares of the utilities provider’s stock after selling 2,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.27% of New Jersey Resources worth $12,800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of New Jersey Resources by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,956,772 shares of the utilities provider’s stock worth $126,372,000 after buying an additional 154,441 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of New Jersey Resources by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,284,245 shares of the utilities provider’s stock valued at $54,889,000 after acquiring an additional 40,094 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of New Jersey Resources by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,227,815 shares of the utilities provider’s stock valued at $57,953,000 after acquiring an additional 33,772 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of 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 in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of New Jersey Resources by 4.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider’s stock valued at $19,918,000 after acquiring an additional 17,664 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on NJR. Guggenheim lifted their target price on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Wells Fargo & Company lifted their target price 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. Mizuho raised their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, September 20th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $49.75.

New Jersey Resources Trading Down 1.2 %

NJR opened at $49.18 on Friday. The stock has a market capitalization of $4.91 billion, a PE ratio of 16.84 and a beta of 0.63. The firm’s fifty day moving average price is $47.59 and its 200 day moving average price is $45.73. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.62 and a quick ratio of 0.36. New Jersey Resources Co. has a 12-month low of $39.44 and a 12-month high of $51.94.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, November 25th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $395.78 million for the quarter, compared to analysts’ expectations of $406.97 million. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share. As a group, research analysts expect that New Jersey Resources Co. will post 3.05 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 annualized dividend and a yield of 3.66%. New Jersey Resources’s dividend payout ratio is presently 61.64%.

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.