Analysts Set New Jersey Resources Co. (NYSE:NJR) PT at $51.83

New Jersey Resources Co. (NYSE:NJR - Get Free Report) has received an average rating of "Moderate Buy" from the six analysts that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $51.83.

NJR has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on 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. 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. Mizuho lowered their price objective on shares of New Jersey Resources from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, May 15th. New Street Research set a $51.00 price objective on shares of New Jersey Resources in a research note on Tuesday, April 1st. Finally, Jefferies Financial Group started coverage on shares of New Jersey Resources in a research report on Tuesday, April 1st. They issued a "hold" rating and a $51.00 target price on the stock.

Insider Activity at New Jersey Resources

In related news, CFO Roberto Bel sold 1,173 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $50.00, for a total value of $58,650.00. Following the completion of the sale, the chief financial officer now directly owns 22,649 shares in the company, valued at $1,132,450. This represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC raised its position in shares of New Jersey Resources by 3.9% during the first quarter. Intech Investment Management LLC now owns 60,108 shares of the utilities provider's stock worth $2,949,000 after acquiring an additional 2,249 shares during the last quarter. Jane Street Group LLC acquired a new stake in New Jersey Resources during the 1st quarter valued at approximately $8,907,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in New Jersey Resources by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 320,113 shares of the utilities provider's stock worth $15,705,000 after purchasing an additional 29,458 shares during the last quarter. Zimmer Partners LP lifted its position in shares of New Jersey Resources by 49.0% in the 1st quarter. Zimmer Partners LP now owns 101,800 shares of the utilities provider's stock worth $4,994,000 after purchasing an additional 33,500 shares during the period. Finally, United Services Automobile Association acquired a new position in shares of New Jersey Resources in the 1st quarter worth approximately $318,000. 70.98% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Price Performance

NYSE:NJR traded up $0.28 during mid-day trading on Wednesday, reaching $45.75. The stock had a trading volume of 431,934 shares, compared to its average volume of 545,036. New Jersey Resources has a 12 month low of $41.58 and a 12 month high of $51.95. The stock has a market capitalization of $4.59 billion, a PE ratio of 13.78 and a beta of 0.66. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. The stock has a 50-day simple moving average of $48.10 and a two-hundred day simple moving average of $47.83.

New Jersey Resources (NYSE:NJR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The utilities provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.11. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. The company had revenue of $913.03 million for the quarter, compared to analyst estimates of $732.00 million. During the same quarter last year, the company posted $1.41 EPS. The company's revenue for the quarter was up 38.8% compared to the same quarter last year. On average, equities analysts anticipate that New Jersey Resources will post 3.15 earnings per share for the current year.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Tuesday, June 10th. New Jersey Resources's dividend payout ratio is currently 43.69%.

New Jersey Resources Company 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.