Dimensional Fund Advisors LP Raises Stake in New Jersey Resources Co. (NYSE:NJR)

Dimensional Fund Advisors LP boosted its position in New Jersey Resources Co. (NYSE:NJR) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,745,545 shares of the utilities provider’s stock after buying an additional 41,300 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.81% of New Jersey Resources worth $129,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in New Jersey Resources in the first quarter worth approximately $27,000. WealthPLAN Partners LLC purchased a new stake in New Jersey Resources in the first quarter worth approximately $37,000. C M Bidwell & Associates Ltd. purchased a new stake in New Jersey Resources in the first quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of New Jersey Resources by 71.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 914 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 380 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of New Jersey Resources by 264.7% during the second quarter. IFP Advisors Inc now owns 1,641 shares of the utilities provider’s stock valued at $72,000 after purchasing an additional 1,191 shares during the period. Hedge funds and other institutional investors own 73.08% of the company’s stock.

New Jersey Resources Stock Performance

Shares of NJR stock opened at $42.34 on Tuesday. The stock has a fifty day moving average of $41.92 and a 200 day moving average of $44.72. New Jersey Resources Co. has a 52 week low of $38.92 and a 52 week high of $55.84. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 2.53 and a beta of 0.64. The company has a quick ratio of 0.50, a current ratio of 0.78 and a debt-to-equity ratio of 1.37.

New Jersey Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 13th will be issued a $0.42 dividend. This is an increase from New Jersey Resources’s previous quarterly dividend of $0.39. The ex-dividend date is Tuesday, December 12th. This represents a $1.68 dividend on an annualized basis and a yield of 3.97%. New Jersey Resources’s dividend payout ratio is 57.93%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NJR. StockNews.com began coverage on New Jersey Resources in a research note on Thursday, October 5th. They set a “sell” rating for the company. Guggenheim dropped their price objective on New Jersey Resources from $47.00 to $42.00 in a research note on Monday, October 9th. JPMorgan Chase & Co. raised New Jersey Resources from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $44.00 to $46.00 in a research note on Thursday, September 21st. Mizuho dropped their price objective on New Jersey Resources from $49.00 to $47.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Wells Fargo & Company dropped their price objective on New Jersey Resources from $52.00 to $47.00 and set an “equal weight” rating for the company in a research note on Friday, August 4th.

About New Jersey Resources

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. 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 569,300 residential and commercial customers throughout 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.