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

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

Several other large investors also recently modified their holdings of NJR. Good Life Advisors LLC grew its stake in New Jersey Resources by 1.0% in the fourth quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider’s stock worth $1,616,000 after purchasing an additional 327 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in New Jersey Resources by 3.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,185 shares of the utilities provider’s stock worth $434,000 after acquiring an additional 345 shares during the last quarter. UMB Bank n.a. lifted its holdings in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 345 shares during the last quarter. Greenwood Capital Associates LLC lifted its holdings in New Jersey Resources by 1.5% in the fourth quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider’s stock worth $1,191,000 after acquiring an additional 383 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in New Jersey Resources by 23.6% in the fourth quarter. GAMMA Investing LLC now owns 2,288 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 437 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Patrick J. Migliaccio sold 4,983 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.00, for a total transaction of $229,218.00. Following the sale, the chief operating officer now owns 37,124 shares of the company’s stock, valued at $1,707,704. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Guggenheim raised their target price 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, JPMorgan Chase & Co. cut their target price on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

New Jersey Resources Stock Performance

NJR opened at $46.41 on Friday. The business’s 50 day moving average is $46.67 and its 200-day moving average is $46.85. The stock has a market cap of $4.65 billion, a PE ratio of 13.98 and a beta of 0.63. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. New Jersey Resources Co. has a twelve month low of $40.51 and a twelve month high of $51.94.

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

New Jersey Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.88%. New Jersey Resources’s payout ratio is 54.22%.

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.