New Jersey Resources Co. (NYSE:NJR) Shares Purchased by Good Life Advisors LLC

Good Life Advisors LLC boosted its position in New Jersey Resources Co. (NYSE:NJR) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,337 shares of the utilities provider’s stock after buying an additional 342 shares during the quarter. Good Life Advisors LLC’s holdings in New Jersey Resources were worth $1,486,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. HighTower Advisors LLC grew its position in New Jersey Resources by 2.0% in the 1st quarter. HighTower Advisors LLC now owns 11,888 shares of the utilities provider’s stock worth $637,000 after purchasing an additional 238 shares during the last quarter. New York State Common Retirement Fund boosted its stake in New Jersey Resources by 0.6% during the 3rd quarter. New York State Common Retirement Fund now owns 39,224 shares of the utilities provider’s stock valued at $1,594,000 after purchasing an additional 242 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of New Jersey Resources by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 25,644 shares of the utilities provider’s stock worth $992,000 after acquiring an additional 261 shares during the period. Bedel Financial Consulting Inc. raised its holdings in shares of New Jersey Resources by 5.0% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 5,897 shares of the utilities provider’s stock worth $278,000 after buying an additional 280 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its holdings in New Jersey Resources by 1.3% during the 3rd quarter. Jacobi Capital Management LLC now owns 27,937 shares of the utilities provider’s stock valued at $1,135,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

New Jersey Resources Price Performance

NYSE NJR traded up $0.54 during trading on Thursday, reaching $42.91. The company’s stock had a trading volume of 407,309 shares, compared to its average volume of 538,617. The firm has a fifty day moving average of $41.76 and a 200 day moving average of $42.42. New Jersey Resources Co. has a one year low of $38.92 and a one year high of $55.84. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.70 and a quick ratio of 0.47. The stock has a market capitalization of $4.22 billion, a PE ratio of 17.36 and a beta of 0.63.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The business had revenue of $467.20 million during the quarter, compared to analysts’ expectations of $812.66 million. During the same quarter last year, the business posted $1.14 EPS. The company’s quarterly revenue was down 35.4% compared to the same quarter last year. Analysts expect that New Jersey Resources Co. will post 2.94 EPS for the current fiscal year.

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Wednesday, March 13th will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, March 12th. This represents a $1.68 dividend on an annualized basis and a yield of 3.92%. New Jersey Resources’s dividend payout ratio is presently 68.85%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NJR. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Mizuho reduced their price objective on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, February 5th.

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.