New Jersey Resources Co. (NYSE:NJR) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC lifted its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,163 shares of the utilities provider’s stock after purchasing an additional 997 shares during the period. Private Advisor Group LLC’s holdings in New Jersey Resources were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in shares of New Jersey Resources during the fourth quarter worth about $26,000. Parkside Financial Bank & Trust purchased a new stake in shares of New Jersey Resources during the fourth quarter worth about $29,000. Headlands Technologies LLC purchased a new stake in shares of New Jersey Resources during the fourth quarter worth about $31,000. GAMMA Investing LLC purchased a new stake in shares of New Jersey Resources during the fourth quarter worth about $40,000. Finally, Fifth Third Bancorp increased its stake in shares of New Jersey Resources by 68.0% during the third quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

New Jersey Resources Trading Up 0.9 %

Shares of NYSE:NJR opened at $44.51 on Tuesday. New Jersey Resources Co. has a 52 week low of $38.92 and a 52 week high of $50.72. The company’s 50 day moving average is $43.01 and its two-hundred day moving average is $42.82. The company has a current ratio of 0.70, a quick ratio of 0.56 and a debt-to-equity ratio of 1.25. The company has a market cap of $4.40 billion, a PE ratio of 17.59 and a beta of 0.62.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Wednesday, June 12th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Wednesday, June 12th. New Jersey Resources’s dividend payout ratio is presently 66.40%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Mizuho decreased their price objective on shares of New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, February 5th.

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.