Quest Partners LLC Grows Stake in New Jersey Resources Co. (NYSE:NJR)

Quest Partners LLC increased its position in New Jersey Resources Co. (NYSE:NJR) by 302.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,369 shares of the utilities provider’s stock after acquiring an additional 29,575 shares during the period. Quest Partners LLC’s holdings in New Jersey Resources were worth $1,858,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of New Jersey Resources during the 3rd quarter valued at about $27,000. Neo Ivy Capital Management bought a new position in New Jersey Resources in the second quarter worth approximately $31,000. GAMMA Investing LLC boosted its stake 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 worth $52,000 after acquiring an additional 661 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of New Jersey Resources in the 3rd quarter worth $52,000. Finally, Spirit of America Management Corp NY lifted its position in New Jersey Resources by 140.0% during the third 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 in the last quarter. Institutional investors own 70.98% of the company’s stock.

New Jersey Resources Price Performance

NJR stock opened at $48.45 on Tuesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60. The company’s fifty day moving average price is $46.65 and its 200-day moving average price is $45.12. New Jersey Resources Co. has a one year low of $39.44 and a one year high of $48.68. The company has a market capitalization of $4.80 billion, a PE ratio of 20.09 and a beta of 0.59.

New Jersey Resources Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio (DPR) is presently 75.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NJR shares. JPMorgan Chase & Co. boosted their price objective 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. Wells Fargo & Company increased their price objective on shares of New Jersey Resources from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Mizuho increased 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 equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.