GAMMA Investing LLC Raises Position in New Jersey Resources Co. (NYSE:NJR)

GAMMA Investing LLC raised its holdings in New Jersey Resources Co. (NYSE:NJR) by 23.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,288 shares of the utilities provider’s stock after buying an additional 437 shares during the period. GAMMA Investing LLC’s holdings in New Jersey Resources were worth $107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Good Life Advisors LLC boosted its position in New Jersey Resources by 1.0% in the 3rd quarter. Good Life Advisors LLC now owns 34,316 shares of the utilities provider’s stock valued at $1,620,000 after buying an additional 333 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of New Jersey Resources by 3.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,185 shares of the utilities provider’s stock worth $434,000 after purchasing an additional 345 shares during the last quarter. Creative Planning lifted its position in shares of New Jersey Resources by 2.4% during the 3rd quarter. Creative Planning now owns 20,514 shares of the utilities provider’s stock worth $968,000 after purchasing an additional 481 shares during the last quarter. Strategy Asset Managers LLC lifted its position in shares of New Jersey Resources by 6.1% during the 3rd quarter. Strategy Asset Managers LLC now owns 8,592 shares of the utilities provider’s stock worth $406,000 after purchasing an additional 496 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in shares of New Jersey Resources by 6.3% during the 3rd quarter. Inspire Investing LLC now owns 8,698 shares of the utilities provider’s stock worth $411,000 after purchasing an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Activity

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

New Jersey Resources Stock Down 2.4 %

Shares of NYSE NJR opened at $45.31 on Friday. New Jersey Resources Co. has a 12-month low of $39.44 and a 12-month high of $51.94. The company has a market capitalization of $4.52 billion, a PE ratio of 15.52 and a beta of 0.64. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.62 and a quick ratio of 0.36. The firm’s 50-day moving average is $47.86 and its two-hundred day moving average is $46.41.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, November 25th. The utilities provider reported $0.89 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.89. The business had revenue of $395.78 million during the quarter, compared to analyst estimates of $406.97 million. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. The company’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 earnings per share. Equities analysts anticipate that New Jersey Resources Co. will post 3.1 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Wednesday, December 11th. New Jersey Resources’s dividend payout ratio is presently 61.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of New Jersey Resources from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $52.00 to $54.00 in a research report on Thursday, December 12th. Mizuho lifted their price objective on shares of New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. StockNews.com cut shares of New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Friday. Guggenheim lifted their price objective on shares of New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Finally, 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 research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.00.

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.