John G Ullman & Associates Inc. Lowers Holdings in New Jersey Resources Co. (NYSE:NJR)

John G Ullman & Associates Inc. reduced its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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. owned about 0.13% of New Jersey Resources worth $6,048,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NJR. Victory Capital Management Inc. increased its position in shares of New Jersey Resources by 192.9% during the second quarter. Victory Capital Management Inc. now owns 387,950 shares of the utilities provider’s stock worth $16,581,000 after acquiring an additional 255,503 shares during the period. Energy Income Partners LLC increased its holdings in New Jersey Resources by 54.9% during the 1st quarter. Energy Income Partners LLC now owns 537,636 shares of the utilities provider’s stock worth $23,070,000 after purchasing an additional 190,500 shares during the period. Boston Partners raised its position in New Jersey Resources by 65.5% in the 1st quarter. Boston Partners now owns 480,001 shares of the utilities provider’s stock valued at $20,623,000 after purchasing an additional 190,028 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of New Jersey Resources by 39.9% in the 2nd quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider’s stock valued at $26,430,000 after buying an additional 176,396 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of New Jersey Resources by 5.5% during the second 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 in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NJR. JPMorgan Chase & Co. raised their target price 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. Wells Fargo & Company boosted their target price on shares of New Jersey Resources from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Mizuho raised their price target on New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.00.

New Jersey Resources Trading Up 0.1 %

NYSE NJR opened at $48.79 on Thursday. New Jersey Resources Co. has a one year low of $39.44 and a one year high of $48.85. The firm has a market cap of $4.84 billion, a PE ratio of 20.41 and a beta of 0.59. The firm’s fifty day moving average is $46.78 and its two-hundred day moving average is $45.20. 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 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 dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio is presently 75.31%.

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.