Janney Montgomery Scott LLC Buys 8,304 Shares of New Jersey Resources Co. (NYSE:NJR)

Janney Montgomery Scott LLC raised its stake in New Jersey Resources Co. (NYSE:NJRFree Report) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,318 shares of the utilities provider’s stock after acquiring an additional 8,304 shares during the period. Janney Montgomery Scott LLC owned about 0.15% of New Jersey Resources worth $5,823,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NJR. Quarry LP bought a new stake in New Jersey Resources in the second quarter valued at $38,000. Fifth Third Bancorp grew its position in New Jersey Resources by 68.0% in the third quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 412 shares during the period. Farmers & Merchants Investments Inc. grew its position in New Jersey Resources by 2,500.0% in the third quarter. Farmers & Merchants Investments Inc. now owns 1,040 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 1,000 shares during the period. Intrepid Capital Management Inc. bought a new stake in New Jersey Resources in the second quarter valued at $43,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in New Jersey Resources by 71.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 914 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 380 shares during the period. 73.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho lowered their price target on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, February 5th. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th.

Check Out Our Latest Report on New Jersey Resources

New Jersey Resources Price Performance

New Jersey Resources stock opened at $41.28 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.47 and a current ratio of 0.70. The firm has a market cap of $4.06 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.33 and a beta of 0.63. The business’s fifty day moving average is $43.23 and its two-hundred day moving average is $42.68. New Jersey Resources Co. has a 52 week low of $38.92 and a 52 week high of $55.84.

New Jersey Resources (NYSE:NJRGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.15). New Jersey Resources had a net margin of 13.96% and a return on equity of 11.13%. The firm had revenue of $467.20 million for the quarter, compared to analyst estimates of $812.66 million. During the same period last year, the company earned $1.14 EPS. The company’s revenue was down 35.4% compared to the same quarter last year. Equities research analysts forecast that New Jersey Resources Co. will post 2.95 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Wednesday, March 13th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Tuesday, March 12th. New Jersey Resources’s dividend payout ratio (DPR) is presently 68.85%.

Insider Activity

In related news, COO Patrick J. Migliaccio sold 3,579 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $44.29, for a total value of $158,513.91. Following the completion of the sale, the chief operating officer now owns 41,886 shares in the company, valued at $1,855,130.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is currently owned by insiders.

New Jersey Resources Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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