New Jersey Resources Co. (NYSE:NJR) Shares Sold by Claro Advisors LLC

Claro Advisors LLC lessened its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 21.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,440 shares of the utilities provider’s stock after selling 3,363 shares during the quarter. Claro Advisors LLC’s holdings in New Jersey Resources were worth $580,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in shares of New Jersey Resources during the 3rd quarter worth $27,000. V Square Quantitative Management LLC purchased a new position in shares of New Jersey Resources during the 3rd quarter worth $27,000. Versant Capital Management Inc lifted its stake in shares of New Jersey Resources by 9,400.0% during the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 658 shares during the period. Van ECK Associates Corp purchased a new position in shares of New Jersey Resources during the 3rd quarter worth $52,000. Finally, Spirit of America Management Corp NY lifted its stake in shares of New Jersey Resources by 140.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

New Jersey Resources Stock Up 0.9 %

Shares of NYSE NJR opened at $45.65 on Tuesday. New Jersey Resources Co. has a 1 year low of $39.44 and a 1 year high of $51.94. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 15.63 and a beta of 0.64. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.36 and a current ratio of 0.62. The stock’s 50-day simple moving average is $47.87 and its 200-day simple moving average is $46.48.

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

New Jersey Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Wednesday, December 11th. New Jersey Resources’s payout ratio is 61.64%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NJR. StockNews.com lowered New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Friday. Mizuho increased their target price on New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company increased their target price on New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. raised New Jersey Resources from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $54.00 in a research report on Thursday, December 12th. Finally, Guggenheim increased their target price on New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.00.

Insider Transactions at New Jersey Resources

In related news, COO Patrick J. Migliaccio sold 4,983 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the sale, the chief operating officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

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.