First Personal Financial Services Has $57,000 Position in New Jersey Resources Co. (NYSE:NJR)

First Personal Financial Services lowered its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 16.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,208 shares of the utilities provider’s stock after selling 241 shares during the quarter. First Personal Financial Services’ holdings in New Jersey Resources were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Avantax Advisory Services Inc. raised its position in New Jersey Resources by 2.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 9,357 shares of the utilities provider’s stock valued at $402,000 after buying an additional 255 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in New Jersey Resources by 3.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider’s stock valued at $378,000 after buying an additional 307 shares during the last quarter. Good Life Advisors LLC raised 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 last quarter. Ameritas Investment Partners Inc. raised its position in New Jersey Resources by 0.9% in the 1st quarter. Ameritas Investment Partners Inc. now owns 46,847 shares of the utilities provider’s stock valued at $2,010,000 after buying an additional 416 shares during the last quarter. Finally, Creative Planning raised its position in New Jersey Resources by 2.4% in the 3rd quarter. Creative Planning now owns 20,514 shares of the utilities provider’s stock valued at $968,000 after buying an additional 481 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

NJR has been the topic of a number of recent research reports. Mizuho lifted their target price on New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. raised their price target 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. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company raised their price target on New Jersey Resources from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $49.00.

New Jersey Resources Stock Performance

Shares of NYSE NJR opened at $46.82 on Friday. 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 Co. has a 12 month low of $39.44 and a 12 month high of $48.68. The stock has a 50 day moving average of $46.51 and a 200-day moving average of $44.95. The company has a market capitalization of $4.64 billion, a P/E ratio of 19.59 and a beta of 0.59.

New Jersey Resources Announces Dividend

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

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.