New Jersey Resources Co. (NYSE:NJR) Shares Sold by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. reduced its position in New Jersey Resources Co. (NYSE:NJR) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 128,128 shares of the utilities provider’s stock after selling 1,700 shares during the period. John G Ullman & Associates Inc.’s holdings in New Jersey Resources were worth $6,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in New Jersey Resources by 5.5% in the 1st quarter. Russell Investments Group Ltd. now owns 24,292 shares of the utilities provider’s stock valued at $1,042,000 after acquiring an additional 1,257 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in New Jersey Resources by 41.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,031 shares of the utilities provider’s stock worth $2,061,000 after purchasing an additional 14,150 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in New Jersey Resources by 3.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 127,505 shares of the utilities provider’s stock worth $5,475,000 after purchasing an additional 4,110 shares during the period. EntryPoint Capital LLC acquired a new position in shares of New Jersey Resources in the 1st quarter valued at $125,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of New Jersey Resources by 11.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,608 shares of the utilities provider’s stock valued at $2,601,000 after buying an additional 6,039 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

New Jersey Resources Trading Up 0.1 %

Shares of NJR opened at $48.79 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60. New Jersey Resources Co. has a one year low of $39.44 and a one year high of $48.85. The stock has a 50-day moving average price of $46.78 and a 200 day moving average price of $45.20. The company has a market capitalization of $4.84 billion, a P/E ratio of 20.41 and a beta of 0.59.

New Jersey Resources Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on NJR. JPMorgan Chase & Co. lifted their price objective on New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Wells Fargo & Company raised their target price 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 increased their price target on New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Four 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, the company presently has an average rating of “Hold” and an average price target of $49.00.

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.