Quest Partners LLC Boosts Stock Position in New Jersey Resources Co. (NYSE:NJR)

Quest Partners LLC lifted its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 302.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,369 shares of the utilities provider’s stock after purchasing an additional 29,575 shares during the period. Quest Partners LLC’s holdings in New Jersey Resources were worth $1,858,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NJR. Russell Investments Group Ltd. raised its stake in shares of New Jersey Resources by 5.5% during the first quarter. Russell Investments Group Ltd. now owns 24,292 shares of the utilities provider’s stock valued at $1,042,000 after acquiring an additional 1,257 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in New Jersey Resources by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 9,357 shares of the utilities provider’s stock worth $402,000 after purchasing an additional 255 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in New Jersey Resources by 41.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,031 shares of the utilities provider’s stock valued at $2,061,000 after buying an additional 14,150 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of New Jersey Resources by 0.9% during the 1st quarter. Ameritas Investment Partners Inc. now owns 46,847 shares of the utilities provider’s stock valued at $2,010,000 after buying an additional 416 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of New Jersey Resources by 3.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 127,505 shares of the utilities provider’s stock worth $5,475,000 after acquiring an additional 4,110 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

New Jersey Resources Trading Up 0.9 %

Shares of NYSE:NJR opened at $48.45 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.41. New Jersey Resources Co. has a 1 year low of $39.44 and a 1 year high of $48.68. The company has a market cap of $4.80 billion, a P/E ratio of 20.09 and a beta of 0.59. The stock’s fifty day moving average price is $46.65 and its 200-day moving average price is $45.12.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, December 11th. New Jersey Resources’s payout ratio is presently 75.31%.

Analyst Ratings Changes

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

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.