Thrivent Financial for Lutherans Sells 579 Shares of New Jersey Resources Co. (NYSE:NJR)

Thrivent Financial for Lutherans reduced its position in shares of New Jersey Resources Co. (NYSE:NJR) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,474 shares of the utilities provider’s stock after selling 579 shares during the period. Thrivent Financial for Lutherans’ holdings in New Jersey Resources were worth $1,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of New Jersey Resources during the 3rd quarter worth approximately $27,000. Neo Ivy Capital Management bought a new stake in New Jersey Resources during the second quarter worth $31,000. Van ECK Associates Corp purchased a new position in New Jersey Resources in the third quarter worth $52,000. Spirit of America Management Corp NY grew its stake in New Jersey Resources by 140.0% in 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 purchasing an additional 700 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of New Jersey Resources by 119.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 661 shares during the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho boosted their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Guggenheim increased their target price on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lifted 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 report on Wednesday, November 27th. StockNews.com lowered New Jersey Resources from a “hold” rating to a “sell” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. boosted their target price on New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.75.

New Jersey Resources Stock Performance

Shares of NJR stock opened at $51.58 on Monday. New Jersey Resources Co. has a 12 month low of $39.44 and a 12 month high of $51.94. The stock has a market capitalization of $5.15 billion, a P/E ratio of 17.66 and a beta of 0.59. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31. The firm’s 50 day moving average is $47.28 and its 200 day moving average is $45.54.

New Jersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 yield of 3.49%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources’s payout ratio is presently 61.64%.

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.