New Jersey Resources Co. (NYSE:NJR) Shares Acquired by Inceptionr LLC

Inceptionr LLC grew its stake in New Jersey Resources Co. (NYSE:NJR) by 123.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,824 shares of the utilities provider’s stock after buying an additional 9,844 shares during the period. Inceptionr LLC’s holdings in New Jersey Resources were worth $831,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Arizona State Retirement System boosted its holdings in shares of New Jersey Resources by 1.1% in the 4th quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider’s stock valued at $1,343,000 after buying an additional 325 shares in the last quarter. Good Life Advisors LLC boosted its holdings in shares of New Jersey Resources by 1.0% in the 4th quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider’s stock valued at $1,616,000 after buying an additional 327 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of New Jersey Resources by 3.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,185 shares of the utilities provider’s stock valued at $434,000 after buying an additional 345 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of New Jersey Resources by 69.8% in the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. Finally, Greenwood Capital Associates LLC boosted its holdings in shares of New Jersey Resources by 1.5% in the 4th quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider’s stock valued at $1,191,000 after buying an additional 383 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

New Jersey Resources Stock Up 0.8 %

NJR stock opened at $47.79 on Friday. New Jersey Resources Co. has a one year low of $40.62 and a one year high of $51.94. The stock has a market capitalization of $4.79 billion, a PE ratio of 14.39 and a beta of 0.57. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. The company has a fifty day moving average of $46.91 and a 200-day moving average of $47.11.

New Jersey Resources (NYSE:NJR) last released its earnings results on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.74 earnings per share. As a group, analysts expect that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.77%. New Jersey Resources’s dividend payout ratio is presently 54.22%.

Analyst Ratings Changes

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

Insider Activity

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the transaction, the chief operating officer now owns 37,124 shares in the company, valued at $1,707,704. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

New Jersey Resources Company 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.