Wealth Enhancement Advisory Services LLC Boosts Holdings in New Jersey Resources Co. (NYSE:NJR)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,185 shares of the utilities provider’s stock after acquiring an additional 345 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in New Jersey Resources were worth $434,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in shares of New Jersey Resources in the 3rd quarter valued at about $27,000. Neo Ivy Capital Management acquired a new position in shares of New Jersey Resources during the 2nd quarter worth approximately $31,000. Spirit of America Management Corp NY lifted its position in shares of New Jersey Resources by 140.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock valued at $57,000 after buying an additional 700 shares in the last quarter. GAMMA Investing LLC grew its stake in New Jersey Resources by 119.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 661 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in New Jersey Resources in the 2nd quarter worth $76,000. 70.98% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Stock Up 0.9 %

NJR stock opened at $46.82 on Friday. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 19.59 and a beta of 0.59. The firm has a 50-day moving average of $46.51 and a two-hundred day moving average of $44.95. New Jersey Resources Co. has a 12 month low of $39.44 and a 12 month high of $48.68. The company has a current ratio of 0.60, a quick ratio of 0.41 and a debt-to-equity ratio of 1.30.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio is currently 75.31%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Wells Fargo & Company increased their target price on New Jersey Resources from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Mizuho lifted their price target 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. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company 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.