Truist Financial Corp acquired a new position in shares of New Jersey Resources Co. (NYSE:NJR – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,985 shares of the utilities provider’s stock, valued at approximately $222,000.
Other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund grew its stake in New Jersey Resources by 0.6% in the 3rd quarter. New York State Common Retirement Fund now owns 39,224 shares of the utilities provider’s stock worth $1,594,000 after buying an additional 242 shares in the last quarter. Arkadios Wealth Advisors increased its stake in New Jersey Resources by 2.3% in the fourth quarter. Arkadios Wealth Advisors now owns 11,765 shares of the utilities provider’s stock valued at $524,000 after acquiring an additional 265 shares during the last quarter. Good Life Advisors LLC lifted its stake in New Jersey Resources by 1.0% during the fourth quarter. Good Life Advisors LLC now owns 33,337 shares of the utilities provider’s stock worth $1,486,000 after purchasing an additional 342 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of New Jersey Resources by 1.3% in the 3rd quarter. Jacobi Capital Management LLC now owns 27,937 shares of the utilities provider’s stock worth $1,135,000 after purchasing an additional 371 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of New Jersey Resources by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 27,608 shares of the utilities provider’s stock worth $1,122,000 after purchasing an additional 394 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
NJR has been the subject of several research reports. Mizuho cut their target price on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, February 5th. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th.
Check Out Our Latest Analysis on New Jersey Resources
New Jersey Resources Price Performance
Shares of New Jersey Resources stock opened at $44.57 on Wednesday. The stock has a market capitalization of $4.40 billion, a P/E ratio of 17.62 and a beta of 0.62. New Jersey Resources Co. has a one year low of $38.92 and a one year high of $50.72. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.70 and a quick ratio of 0.56. The business’s 50 day simple moving average is $43.04 and its two-hundred day simple moving average is $42.83.
New Jersey Resources Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Wednesday, June 12th will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, June 12th. This represents a $1.68 dividend on an annualized basis and a yield of 3.77%. New Jersey Resources’s dividend payout ratio is currently 66.40%.
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.
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Source: defenseworld.net
