New Jersey Resources (NYSE:NJR) Stock Rating Upgraded by StockNews.com

New Jersey Resources (NYSE:NJR) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other brokerages have also recently weighed in on NJR. Guggenheim upped their price target on New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note 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 company an “equal weight” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. cut their price objective 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 research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.75.

New Jersey Resources Trading Up 1.0 %

NYSE:NJR opened at $46.97 on Tuesday. The company has a 50-day moving average price of $47.51 and a 200-day moving average price of $46.88. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 16.08 and a beta of 0.63. The company has a current ratio of 0.62, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. New Jersey Resources has a 12 month low of $40.20 and a 12 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.15. New Jersey Resources had a net margin of 16.13% and a return on equity of 13.54%. During the same period in the prior year, the company earned $0.74 earnings per share. Equities analysts predict that New Jersey Resources will post 3.1 EPS for the current year.

Insider Transactions at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 37,124 shares of the company’s stock, valued at $1,707,704. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Good Life Advisors LLC increased its position in shares of New Jersey Resources by 1.0% during the 4th quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider’s stock valued at $1,616,000 after purchasing an additional 327 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position 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 period. UMB Bank n.a. boosted its stake in shares of New Jersey Resources by 69.8% during the 4th 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 grew its position in shares of New Jersey Resources by 1.5% during the 4th quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider’s stock valued at $1,191,000 after acquiring an additional 383 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of New Jersey Resources by 23.6% in the 4th quarter. GAMMA Investing LLC now owns 2,288 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 437 shares in the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

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.