Thurston Springer Miller Herd & Titak Inc. Acquires 9,189 Shares of New Jersey Resources Co. (NYSE:NJR)

Thurston Springer Miller Herd & Titak Inc. grew its position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,465 shares of the utilities provider's stock after purchasing an additional 9,189 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in New Jersey Resources were worth $2,083,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NJR. Roxbury Financial LLC purchased a new position in shares of New Jersey Resources during the fourth quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of New Jersey Resources during the 4th quarter valued at $42,000. Newbridge Financial Services Group Inc. bought a new stake in New Jersey Resources in the fourth quarter worth $51,000. Ameriflex Group Inc. bought a new stake in New Jersey Resources in the fourth quarter worth $51,000. Finally, Lazard Asset Management LLC boosted its position in New Jersey Resources by 6,245.8% during the fourth quarter. Lazard Asset Management LLC now owns 1,523 shares of the utilities provider's stock valued at $71,000 after buying an additional 1,499 shares during the period. Institutional investors own 70.98% of the company's stock.

New Jersey Resources Trading Up 0.0%

Shares of NJR traded up $0.01 during mid-day trading on Friday, hitting $44.66. 432,988 shares of the company's stock traded hands, compared to its average volume of 545,216. 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 firm has a market capitalization of $4.48 billion, a P/E ratio of 13.45 and a beta of 0.62. The business's 50-day moving average price is $47.60 and its 200-day moving average price is $47.70. New Jersey Resources Co. has a 1 year low of $41.68 and a 1 year high of $51.95.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.11. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. The business had revenue of $913.03 million for the quarter, compared to the consensus estimate of $732.00 million. During the same period in the previous year, the firm earned $1.41 EPS. The company's quarterly revenue was up 38.8% compared to the same quarter last year. As a group, sell-side analysts forecast that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. New Street Research set a $51.00 price objective on New Jersey Resources in a report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their price target on New Jersey Resources from $56.00 to $51.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 28th. Jefferies Financial Group started coverage on New Jersey Resources in a research note on Tuesday, April 1st. They set a "hold" rating and a $51.00 price objective for the company. Mizuho decreased their target price on shares of New Jersey Resources from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. Finally, Wells Fargo & Company increased their price target on shares of New Jersey Resources from $51.00 to $53.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $51.67.

Insiders Place Their Bets

In other New Jersey Resources news, CFO Roberto Bel sold 1,173 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $58,650.00. Following the completion of the transaction, the chief financial officer now owns 22,649 shares of the company's stock, valued at approximately $1,132,450. This trade represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.