New Jersey Resources Co. (NYSE:NJR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

New Jersey Resources Co. (NYSE:NJR) has been assigned a consensus recommendation of “Moderate Buy” from the four brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $49.00.

A number of brokerages recently weighed in on NJR. Mizuho lifted their target price on New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, September 20th. StockNews.com cut New Jersey Resources from a “hold” rating to a “sell” rating in a report on Tuesday. Wells Fargo & Company raised their price target on shares of New Jersey Resources from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective 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, Guggenheim raised their target price on shares of New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday.

Institutional Investors Weigh In On New Jersey Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in New Jersey Resources by 3.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider’s stock valued at $378,000 after acquiring an additional 307 shares during the period. Good Life Advisors LLC lifted its holdings in shares of New Jersey Resources by 1.0% in the 3rd quarter. Good Life Advisors LLC now owns 34,316 shares of the utilities provider’s stock worth $1,620,000 after purchasing an additional 333 shares during the last quarter. Creative Planning boosted its position in New Jersey Resources by 2.4% during the 3rd quarter. Creative Planning now owns 20,514 shares of the utilities provider’s stock valued at $968,000 after purchasing an additional 481 shares during the period. Strategy Asset Managers LLC increased its position in New Jersey Resources by 6.1% in the third quarter. Strategy Asset Managers LLC now owns 8,592 shares of the utilities provider’s stock worth $406,000 after buying an additional 496 shares during the period. Finally, Inspire Investing LLC lifted its stake in New Jersey Resources by 6.3% in the third quarter. Inspire Investing LLC now owns 8,698 shares of the utilities provider’s stock valued at $411,000 after buying an additional 515 shares during the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Stock Down 1.5 %

Shares of NYSE:NJR opened at $50.71 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.41 and a debt-to-equity ratio of 1.30. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 17.37 and a beta of 0.59. The stock’s 50-day moving average price is $47.04 and its two-hundred day moving average price is $45.38. New Jersey Resources has a 12-month low of $39.44 and a 12-month high of $51.80.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.55%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources’s dividend payout ratio is currently 61.64%.

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.