Fox Run Management L.L.C. Purchases Shares of 14,586 New Jersey Resources Co. (NYSE:NJR)

Fox Run Management L.L.C. acquired a new position in shares of New Jersey Resources Co. (NYSE:NJR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,586 shares of the utilities provider’s stock, valued at approximately $680,000.

A number of other institutional investors also recently modified their holdings of NJR. Geode Capital Management LLC grew its position in New Jersey Resources by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,366,381 shares of the utilities provider’s stock worth $111,714,000 after acquiring an additional 34,782 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of New Jersey Resources by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,456 shares of the utilities provider’s stock worth $59,127,000 after purchasing an additional 39,641 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of New Jersey Resources by 8.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider’s stock valued at $56,526,000 after buying an additional 96,393 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of New Jersey Resources by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 609,199 shares of the utilities provider’s stock valued at $28,754,000 after buying an additional 86,742 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in New Jersey Resources by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 364,026 shares of the utilities provider’s stock worth $16,982,000 after buying an additional 6,280 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

NJR has been the subject of several research reports. Wells Fargo & Company boosted their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Guggenheim increased their price objective 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. Finally, JPMorgan Chase & Co. dropped their target price on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, New Jersey Resources currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

New Jersey Resources Trading Down 0.0 %

Shares of NYSE NJR opened at $48.48 on Tuesday. New Jersey Resources Co. has a fifty-two week low of $40.62 and a fifty-two week high of $51.95. The firm has a market capitalization of $4.86 billion, a P/E ratio of 14.60 and a beta of 0.57. 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 company’s 50 day simple moving average is $47.46 and its 200 day simple moving average is $47.33.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company posted $0.74 EPS. On average, analysts predict that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.71%. New Jersey Resources’s dividend payout ratio (DPR) is presently 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.