Dynamic Technology Lab Private Ltd Has $1.49 Million Stock Position in New Jersey Resources Co. (NYSE:NJR)

Dynamic Technology Lab Private Ltd boosted its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 247.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,646 shares of the utilities provider’s stock after buying an additional 22,538 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in New Jersey Resources were worth $1,494,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in shares of New Jersey Resources by 39.9% during the 2nd quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider’s stock worth $26,430,000 after acquiring an additional 176,396 shares during the last quarter. Victory Capital Management Inc. boosted its position in New Jersey Resources by 192.9% during the second quarter. Victory Capital Management Inc. now owns 387,950 shares of the utilities provider’s stock worth $16,581,000 after purchasing an additional 255,503 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of New Jersey Resources by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,284,245 shares of the utilities provider’s stock valued at $54,889,000 after purchasing an additional 40,094 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of New Jersey Resources by 10.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 155,658 shares of the utilities provider’s stock valued at $6,653,000 after purchasing an additional 14,338 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of New Jersey Resources by 302.0% during the 3rd quarter. Quest Partners LLC now owns 39,369 shares of the utilities provider’s stock worth $1,858,000 after buying an additional 29,575 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

New Jersey Resources Price Performance

Shares of New Jersey Resources stock opened at $51.50 on Tuesday. The company has a 50-day simple moving average of $46.99 and a two-hundred day simple moving average of $45.34. New Jersey Resources Co. has a twelve month low of $39.44 and a twelve month high of $51.80. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 21.55 and a beta of 0.59. The company has a quick ratio of 0.41, a current ratio of 0.60 and a debt-to-equity ratio of 1.30.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio (DPR) is currently 75.31%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NJR shares. Mizuho upped 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 note on Friday, September 20th. JPMorgan Chase & Co. upped their target price on New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company boosted their price target 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. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, New Jersey Resources presently has an average rating of “Hold” and an average target price of $49.00.

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.