Wealth Quarterback LLC Purchases New Holdings in NewJersey Resources Corporation $NJR

Wealth Quarterback LLC purchased a new stake in NewJersey Resources Corporation (NYSE:NJR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,585 shares of the utilities provider’s stock, valued at approximately $430,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi increased its position in NewJersey Resources by 605.0% during the first quarter. Amundi now owns 46,868 shares of the utilities provider’s stock worth $2,330,000 after buying an additional 40,220 shares during the last quarter. Horizon Investment Services LLC acquired a new stake in shares of NewJersey Resources in the first quarter valued at approximately $298,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of NewJersey Resources during the 1st quarter worth approximately $6,834,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of NewJersey Resources by 15.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 49,127 shares of the utilities provider’s stock worth $2,202,000 after acquiring an additional 6,662 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of NewJersey Resources by 43.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 74,845 shares of the utilities provider’s stock worth $3,672,000 after acquiring an additional 22,805 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price target (up previously from $49.00) on shares of NewJersey Resources in a report on Friday, August 8th. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NewJersey Resources in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.43.

NewJersey Resources Price Performance

NewJersey Resources stock opened at $46.18 on Wednesday. The stock’s fifty day moving average price is $46.32 and its two-hundred day moving average price is $46.26. The firm has a market cap of $4.64 billion, a PE ratio of 11.29 and a beta of 0.67. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.76 and a quick ratio of 0.48. NewJersey Resources Corporation has a one year low of $43.46 and a one year high of $51.94.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Friday, May 19th. The utilities provider reported $1.36 earnings per share (EPS) for the quarter. The firm had revenue of $912.32 million for the quarter. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. As a group, research analysts expect that NewJersey Resources Corporation will post 3.15 EPS for the current fiscal year.

NewJersey Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, December 12th. NewJersey Resources’s payout ratio is currently 46.45%.

About NewJersey 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.