New Jersey Resources Co. (NYSE:NJR) Stock Holdings Increased by Stifel Financial Corp

Stifel Financial Corp grew its position in New Jersey Resources Co. (NYSE:NJR - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,769 shares of the utilities provider's stock after purchasing an additional 5,631 shares during the period. Stifel Financial Corp owned approximately 0.19% of New Jersey Resources worth $8,946,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NJR. Arizona State Retirement System grew its position in New Jersey Resources by 1.1% in the fourth 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 in the last quarter. Good Life Advisors LLC boosted its stake 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 purchasing an additional 327 shares during the period. UMB Bank n.a. grew its holdings in New Jersey Resources by 69.8% during the 4th 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. Greenwood Capital Associates LLC increased its stake in 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 worth $1,191,000 after buying an additional 383 shares during the period. Finally, Franklin Resources Inc. lifted its holdings 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 worth $5,736,000 after buying an additional 408 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company's stock.

Insider Buying and Selling

In related news, CFO Roberto Bel sold 1,173 shares of New Jersey Resources stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $50.00, for a total value of $58,650.00. Following the sale, the chief financial officer now directly owns 22,649 shares in the company, valued at $1,132,450. This trade represents a 4.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on New Jersey Resources from $54.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. New Street Research set a $51.00 price objective on New Jersey Resources in a research note on Tuesday, April 1st. Guggenheim upped their target price on 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 research report on Tuesday, April 1st. They set a "hold" rating and a $51.00 price target for the company. Finally, StockNews.com upgraded shares of New Jersey Resources from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $51.50.

New Jersey Resources Stock Performance

Shares of NYSE NJR traded up $0.01 during trading on Thursday, reaching $48.95. The stock had a trading volume of 669,353 shares, compared to its average volume of 530,897. The firm's 50 day moving average price is $48.54 and its two-hundred day moving average price is $47.72. New Jersey Resources Co. has a one year low of $41.58 and a one year high of $51.95. The stock has a market cap of $4.91 billion, a PE ratio of 14.74 and a beta of 0.58. 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 (NYSE:NJR - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the prior year, the company posted $0.74 EPS. On average, research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Tuesday, June 10th. New Jersey Resources's payout ratio is 54.22%.

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.