New Jersey Resources Co. (NYSE:NJR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of New Jersey Resources Co. (NYSE:NJR) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $51.50.

Several analysts recently commented on the stock. New Street Research set a $51.00 price objective on shares of New Jersey Resources in a research note on Tuesday, April 1st. Guggenheim boosted their price target on New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Jefferies Financial Group assumed coverage on New Jersey Resources in a research report on Tuesday, April 1st. They set a “hold” rating and a $51.00 target price on the stock. Finally, StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th.

Insider Activity at New Jersey Resources

In related news, CFO Roberto Bel sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $48.58, for a total transaction of $113,968.68. Following the transaction, the chief financial officer now owns 23,822 shares of the company’s stock, valued at approximately $1,157,272.76. This represents a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Roxbury Financial LLC purchased a new stake in shares of New Jersey Resources in the fourth quarter valued at $25,000. Versant Capital Management Inc grew its holdings in New Jersey Resources by 9,400.0% in the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock valued at $31,000 after buying an additional 658 shares during the period. Crews Bank & Trust acquired a new position in shares of New Jersey Resources during the 1st quarter valued at about $37,000. UMB Bank n.a. lifted its holdings in shares of New Jersey Resources by 69.8% during the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 345 shares during the period. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of New Jersey Resources in the fourth quarter worth approximately $42,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

New Jersey Resources Price Performance

Shares of NYSE:NJR opened at $49.17 on Friday. New Jersey Resources has a 52 week low of $41.58 and a 52 week high of $51.95. The company has a 50-day moving average price of $48.38 and a 200 day moving average price of $47.64. The company has a market cap of $4.93 billion, a P/E ratio of 14.81 and a beta of 0.58. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same period in the prior year, the firm earned $0.74 EPS. Research analysts predict that New Jersey Resources will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.66%. New Jersey Resources’s dividend payout ratio (DPR) is 54.22%.

About New Jersey Resources

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.