New Jersey Resources (NYSE:NJR) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b+” rating in a report released on Monday.
A number of other equities analysts have also recently commented on NJR. Bank of America reaffirmed a “neutral” rating on shares of New Jersey Resources in a research report on Tuesday, February 27th. Zacks Investment Research cut shares of New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. ValuEngine raised shares of New Jersey Resources from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Guggenheim reaffirmed a “buy” rating and set a $42.00 price objective on shares of New Jersey Resources in a research report on Friday, February 23rd. Finally, Janney Montgomery Scott raised shares of New Jersey Resources from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 22nd. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.25.
New Jersey Resources (NYSE NJR) opened at $39.70 on Monday. New Jersey Resources has a 52 week low of $35.55 and a 52 week high of $45.45. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.74. The firm has a market cap of $3,490.66, a price-to-earnings ratio of 15.63, a P/E/G ratio of 2.55 and a beta of 0.35.
In other New Jersey Resources news, VP Patrick J. Migliaccio sold 2,618 shares of New Jersey Resources stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $37.90, for a total transaction of $99,222.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Patten Group Inc. lifted its holdings in shares of New Jersey Resources by 2,111.9% during the third quarter. Patten Group Inc. now owns 66,357 shares of the utilities provider’s stock worth $126,000 after buying an additional 63,357 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of New Jersey Resources during the fourth quarter worth $144,000. MHI Funds LLC acquired a new stake in shares of New Jersey Resources during the fourth quarter worth $179,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of New Jersey Resources by 54.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,731 shares of the utilities provider’s stock worth $190,000 after buying an additional 1,674 shares in the last quarter. Finally, Tower Bridge Advisors acquired a new stake in shares of New Jersey Resources during the fourth quarter worth $201,000. 64.16% of the stock is owned by institutional investors.
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New Jersey Resources Company Profile
New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.
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