Captrust Financial Advisors Increases Stock Position in New Jersey Resources Co. (NYSE:NJR)

Captrust Financial Advisors lifted its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,639 shares of the utilities provider’s stock after buying an additional 652 shares during the period. Captrust Financial Advisors’ holdings in New Jersey Resources were worth $738,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in New Jersey Resources in the third quarter valued at $27,000. Neo Ivy Capital Management acquired a new stake in shares of New Jersey Resources in the second quarter valued at about $31,000. Van ECK Associates Corp purchased a new stake in New Jersey Resources during the third quarter worth about $52,000. Spirit of America Management Corp NY grew its position in New Jersey Resources by 140.0% during the third quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock worth $57,000 after buying an additional 700 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in New Jersey Resources in the second quarter valued at about $76,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

New Jersey Resources Stock Up 0.4 %

NJR opened at $48.72 on Wednesday. The firm has a market cap of $4.86 billion, a P/E ratio of 16.68 and a beta of 0.63. The business’s fifty day simple moving average is $47.61 and its 200 day simple moving average is $45.79. New Jersey Resources Co. has a 52 week low of $39.44 and a 52 week high of $51.94. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 1.31.

New Jersey Resources (NYSE:NJR) last released its earnings results on Monday, November 25th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. The company had revenue of $395.78 million for the quarter, compared to analyst estimates 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 firm earned $0.30 EPS. As a group, equities research analysts anticipate that New Jersey Resources Co. will post 3.05 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 3.69%. New Jersey Resources’s dividend payout ratio (DPR) is presently 61.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NJR shares. JPMorgan Chase & Co. upped their price target on New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Mizuho upped their target price on 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 New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Guggenheim increased their price objective on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company lifted their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, New Jersey Resources has a consensus rating of “Hold” and a consensus target price of $49.75.

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.