Hennion & Walsh Asset Management Inc. Has $1.37 Million Holdings in New Jersey Resources Co. (NYSE:NJR)

Hennion & Walsh Asset Management Inc. reduced its stake in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 29.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,955 shares of the utilities provider's stock after selling 11,559 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in New Jersey Resources were worth $1,371,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NJR. Entropy Technologies LP acquired a new position in New Jersey Resources during the 4th quarter valued at $1,681,000. Newbridge Financial Services Group Inc. acquired a new position in New Jersey Resources during the 4th quarter valued at $51,000. Stonebridge Financial Group LLC acquired a new position in New Jersey Resources during the 4th quarter valued at $86,000. Rhumbline Advisers raised its stake in New Jersey Resources by 0.3% during the 4th quarter. Rhumbline Advisers now owns 352,140 shares of the utilities provider's stock valued at $16,427,000 after purchasing an additional 1,037 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new position in New Jersey Resources during the 4th quarter valued at $25,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other New Jersey Resources news, CFO Roberto Bel sold 1,173 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $50.00, for a total transaction of $58,650.00. Following the sale, the chief financial officer now owns 22,649 shares of the company's stock, valued at $1,132,450. This represents a 4.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company's stock.

New Jersey Resources Trading Up 0.0%

Shares of New Jersey Resources stock opened at $44.66 on Friday. The stock has a market capitalization of $4.48 billion, a P/E ratio of 13.45 and a beta of 0.62. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. The company has a 50-day simple moving average of $47.51 and a 200 day simple moving average of $47.67. New Jersey Resources Co. has a 12-month low of $41.68 and a 12-month high of $51.95.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its earnings results on Monday, May 5th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.65 by $0.11. The business had revenue of $913.03 million during the quarter, compared to analysts' expectations of $732.00 million. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. The firm's revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. Research analysts expect that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Tuesday, June 10th. New Jersey Resources's dividend payout ratio is currently 43.69%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NJR. New Street Research set a $51.00 price objective on shares of New Jersey Resources in a research note on Tuesday, April 1st. Wells Fargo & Company increased their price objective on shares of New Jersey Resources from $51.00 to $53.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Jefferies Financial Group began coverage on shares of New Jersey Resources in a research note on Tuesday, April 1st. They issued a "hold" rating and a $51.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of New Jersey Resources from $56.00 to $51.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, New Jersey Resources has a consensus rating of "Hold" and an average price target of $51.67.

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.

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