78,554 Shares in New Jersey Resources Co. (NYSE:NJR) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of New Jersey Resources Co. (NYSE:NJR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 78,554 shares of the utilities provider's stock, valued at approximately $3,665,000. Raymond James Financial Inc. owned 0.08% of New Jersey Resources as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Arizona State Retirement System grew its position in shares of New Jersey Resources by 1.1% during the 4th quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider's stock valued at $1,343,000 after acquiring an additional 325 shares during the period. Good Life Advisors LLC increased its position in shares of New Jersey Resources by 1.0% in the fourth quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider's stock valued at $1,616,000 after buying an additional 327 shares in the last quarter. UMB Bank n.a. raised its stake in shares of New Jersey Resources by 69.8% during the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider's stock worth $39,000 after buying an additional 345 shares during the period. Greenwood Capital Associates LLC lifted its position in shares of New Jersey Resources by 1.5% during the 4th quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider's stock valued at $1,191,000 after buying an additional 383 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in New Jersey Resources by 0.3% in the 4th quarter. Franklin Resources Inc. now owns 122,953 shares of the utilities provider's stock valued at $5,736,000 after acquiring an additional 408 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Transactions at New Jersey Resources

In other New Jersey Resources news, CFO Roberto Bel sold 1,173 shares of New Jersey Resources stock in a transaction on Monday, March 31st. The shares were sold at an average price of $50.00, for a total value of $58,650.00. Following the transaction, the chief financial officer now directly owns 22,649 shares in the company, valued at approximately $1,132,450. The trade was a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company's stock.

New Jersey Resources Stock Up 0.5 %

Shares of NJR traded up $0.24 during mid-day trading on Friday, hitting $49.15. 83,988 shares of the company's stock were exchanged, compared to its average volume of 529,306. The stock's 50-day moving average is $48.56 and its 200-day moving average is $47.74. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. New Jersey Resources Co. has a fifty-two week low of $41.58 and a fifty-two week high of $51.95. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 14.79 and a beta of 0.58.

New Jersey Resources (NYSE:NJR - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, sell-side analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

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. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.80 dividend on an annualized basis and a yield of 3.66%. New Jersey Resources's payout ratio is currently 54.22%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NJR shares. Guggenheim upped their price target on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. New Street Research set a $51.00 target price on New Jersey Resources in a research report on Tuesday, April 1st. Jefferies Financial Group assumed coverage on New Jersey Resources in a research report on Tuesday, April 1st. They set a "hold" rating and a $51.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com raised shares of New Jersey Resources from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. Five equities research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $51.50.

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.