Wealth Quarterback LLC Invests $430,000 in NewJersey Resources Corporation $NJR

Wealth Quarterback LLC acquired a new position in shares of NewJersey Resources Corporation (NYSE:NJR) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 9,585 shares of the utilities provider’s stock, valued at approximately $430,000.

Several other large investors have also recently bought and sold shares of the company. Palouse Capital Management Inc. acquired a new position in shares of NewJersey Resources in the second quarter valued at approximately $95,000. Ibex Wealth Advisors bought a new stake in NewJersey Resources during the 2nd quarter worth approximately $281,000. Vise Technologies Inc. acquired a new position in NewJersey Resources in the 2nd quarter valued at approximately $221,000. ProShare Advisors LLC lifted its holdings in shares of NewJersey Resources by 0.4% during the second quarter. ProShare Advisors LLC now owns 831,309 shares of the utilities provider’s stock worth $37,259,000 after purchasing an additional 3,588 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of NewJersey Resources in the second quarter worth $605,000. 70.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NJR has been the subject of a number of analyst reports. Wall Street Zen upgraded NewJersey Resources from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Raymond James Financial reiterated an “outperform” rating and set a $50.00 price objective (up from $49.00) on shares of NewJersey Resources in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NewJersey Resources in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.43.

NewJersey Resources Stock Performance

NYSE NJR opened at $46.18 on Wednesday. The company has a market cap of $4.64 billion, a P/E ratio of 11.29 and a beta of 0.67. The company has a fifty day simple moving average of $46.32 and a 200 day simple moving average of $46.26. The company has a current ratio of 0.76, a quick ratio of 0.48 and a debt-to-equity ratio of 1.25. NewJersey Resources Corporation has a 12-month low of $43.46 and a 12-month high of $51.94.

NewJersey Resources (NYSE:NJR) last released its quarterly earnings data on Friday, May 19th. The utilities provider reported $1.36 earnings per share for the quarter. The firm had revenue of $912.32 million for the quarter. NewJersey Resources had a net margin of 19.64% and a return on equity of 17.08%. Sell-side analysts predict that NewJersey Resources Corporation will post 3.15 earnings per share for the current fiscal year.

NewJersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a $0.475 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.90 annualized dividend and a yield of 4.1%. NewJersey Resources’s dividend payout ratio (DPR) is presently 46.45%.

NewJersey 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.