New Jersey Resources Co. (NYSE:NJR) Position Raised by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC increased its position in shares of New Jersey Resources Co. (NYSE:NJR) by 57.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,517 shares of the utilities provider’s stock after purchasing an additional 11,478 shares during the period. Nicholson Wealth Management Group LLC’s holdings in New Jersey Resources were worth $1,470,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in New Jersey Resources by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,227,815 shares of the utilities provider’s stock worth $57,953,000 after purchasing an additional 33,772 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in New Jersey Resources by 4,620.0% in the third quarter. International Assets Investment Management LLC now owns 83,638 shares of the utilities provider’s stock worth $3,948,000 after purchasing an additional 81,866 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in New Jersey Resources by 59.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,276 shares of the utilities provider’s stock worth $1,552,000 after purchasing an additional 12,353 shares in the last quarter. Quest Partners LLC boosted its holdings in New Jersey Resources by 302.0% in the third quarter. Quest Partners LLC now owns 39,369 shares of the utilities provider’s stock worth $1,858,000 after purchasing an additional 29,575 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in New Jersey Resources by 4.4% in the third quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider’s stock worth $19,918,000 after purchasing an additional 17,664 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total transaction of $229,218.00. Following the completion of the transaction, the chief operating officer now owns 37,124 shares of the company’s stock, valued at approximately $1,707,704. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by company insiders.

New Jersey Resources Stock Down 0.0 %

NJR stock opened at $46.41 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. New Jersey Resources Co. has a 52-week low of $40.51 and a 52-week high of $51.94. The company has a 50-day moving average of $46.67 and a two-hundred day moving average of $46.85. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 13.98 and a beta of 0.63.

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

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 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 3.88%. The ex-dividend date of this dividend is Tuesday, March 11th. New Jersey Resources’s dividend payout ratio is currently 54.22%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NJR shares. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Guggenheim upped their price objective on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company upped their price target on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

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.