New Jersey Resources Co. (NYSE:NJR) Given Consensus Rating of "Moderate Buy" by Brokerages

New Jersey Resources Co. (NYSE:NJR - Get Free Report) has earned an average rating of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $51.50.

NJR has been the topic of several recent analyst reports. Guggenheim increased their price objective on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Jefferies Financial Group started coverage on shares of New Jersey Resources in a report on Tuesday, April 1st. They set a "hold" rating and a $51.00 price objective on the stock. New Street Research set a $51.00 target price on shares of New Jersey Resources in a research report on Tuesday, April 1st. StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th.

Insider Transactions at New Jersey Resources

In other news, CFO Roberto Bel sold 1,173 shares of the company'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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On New Jersey Resources

A number of institutional investors have recently added to or reduced their stakes in NJR. Roxbury Financial LLC acquired a new stake in New Jersey Resources in the 4th quarter worth about $25,000. Versant Capital Management Inc lifted its holdings in New Jersey Resources by 9,400.0% during the 4th quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider's stock worth $31,000 after buying an additional 658 shares during the period. Crews Bank & Trust bought a new stake in shares of New Jersey Resources in the 1st quarter valued at $37,000. UMB Bank n.a. increased its stake in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock valued at $39,000 after purchasing an additional 345 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in New Jersey Resources by 42.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 839 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 248 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

New Jersey Resources Stock Performance

New Jersey Resources stock traded down $0.11 during midday trading on Friday, hitting $48.84. The company's stock had a trading volume of 116,843 shares, compared to its average volume of 528,759. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. New Jersey Resources has a 1-year low of $41.58 and a 1-year high of $51.95. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 14.73 and a beta of 0.58. The company has a 50-day moving average price of $48.54 and a two-hundred day moving average price of $47.72.

New Jersey Resources (NYSE:NJR - Get Free Report) last released its earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.15. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. During the same period last year, the business earned $0.74 EPS. As a group, sell-side analysts predict that New Jersey Resources will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.69%. New Jersey Resources's dividend payout ratio is currently 54.22%.

About New Jersey Resources

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.