Atlas Legacy Advisors LLC Invests $314,000 in New Jersey Resources Co. (NYSE:NJR)

Atlas Legacy Advisors LLC purchased a new stake in New Jersey Resources Co. (NYSE:NJR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,733 shares of the utilities provider’s stock, valued at approximately $314,000.

Several other large investors have also added to or reduced their stakes in NJR. CWM LLC boosted its holdings in New Jersey Resources by 26.7% in the third quarter. CWM LLC now owns 2,860 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 602 shares in the last quarter. Creative Planning boosted its holdings in New Jersey Resources by 2.4% in the third quarter. Creative Planning now owns 20,514 shares of the utilities provider’s stock valued at $968,000 after acquiring an additional 481 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in New Jersey Resources by 4,620.0% in the third quarter. International Assets Investment Management LLC now owns 83,638 shares of the utilities provider’s stock valued at $3,948,000 after acquiring an additional 81,866 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in New Jersey Resources by 27.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 33,264 shares of the utilities provider’s stock valued at $1,570,000 after acquiring an additional 7,105 shares in the last quarter. Finally, Spirit of America Management Corp NY boosted its holdings in New Jersey Resources by 140.0% in the third quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock valued at $57,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of New Jersey Resources stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the transaction, the chief operating officer now owns 37,124 shares of the company’s stock, valued at $1,707,704. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on NJR. Guggenheim lifted their price target on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Wells Fargo & Company raised their price objective on New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. lowered their price objective 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 investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

New Jersey Resources Price Performance

NJR opened at $46.45 on Thursday. The stock has a 50-day moving average price of $46.70 and a 200-day moving average price of $46.86. 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 firm has a market cap of $4.66 billion, a PE ratio of 13.99 and a beta of 0.63. New Jersey Resources Co. has a 1 year low of $40.51 and a 1 year high of $51.94.

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 firm posted $0.74 earnings per share. Sell-side analysts predict that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal 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 given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Tuesday, March 11th. New Jersey Resources’s dividend payout ratio is presently 54.22%.

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.