J. W. Coons Advisors LLC Takes $221,000 Position in New Jersey Resources Co. (NYSE:NJR)

J. W. Coons Advisors LLC purchased a new position in New Jersey Resources Co. (NYSE:NJR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,673 shares of the utilities provider’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NJR. V Square Quantitative Management LLC acquired a new position in New Jersey Resources during the third quarter worth $27,000. Neo Ivy Capital Management acquired a new stake in shares of New Jersey Resources in the 2nd quarter worth about $31,000. GAMMA Investing LLC lifted its position in New Jersey Resources by 119.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 661 shares in the last quarter. Van ECK Associates Corp acquired a new position in New Jersey Resources during the 3rd quarter valued at about $52,000. Finally, Spirit of America Management Corp NY increased its holdings in New Jersey Resources by 140.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

New Jersey Resources Trading Up 1.6 %

NYSE NJR opened at $48.01 on Monday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 20.09 and a beta of 0.59. The business’s fifty day moving average is $46.65 and its 200-day moving average is $45.11. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.60 and a quick ratio of 0.41. New Jersey Resources Co. has a one year low of $39.44 and a one year high of $48.68.

New Jersey Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th 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 3.75%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio is currently 75.31%.

Wall Street Analysts Forecast Growth

NJR has been the topic of a number of recent research reports. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company raised their price objective on New Jersey Resources from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on shares of New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Mizuho raised their price target on shares of New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $49.00.

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.