Quantbot Technologies LP Invests $1 Million in New Jersey Resources Co. (NYSE:NJR)

Quantbot Technologies LP acquired a new position in New Jersey Resources Co. (NYSE:NJR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,208 shares of the utilities provider’s stock, valued at approximately $1,001,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in New Jersey Resources by 3.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 307 shares during the last quarter. Good Life Advisors LLC grew its position in New Jersey Resources by 1.0% during the third quarter. Good Life Advisors LLC now owns 34,316 shares of the utilities provider’s stock worth $1,620,000 after buying an additional 333 shares in the last quarter. Creative Planning grew its position in New Jersey Resources by 2.4% during the third quarter. Creative Planning now owns 20,514 shares of the utilities provider’s stock worth $968,000 after buying an additional 481 shares in the last quarter. Strategy Asset Managers LLC increased its stake in New Jersey Resources by 6.1% during the third quarter. Strategy Asset Managers LLC now owns 8,592 shares of the utilities provider’s stock valued at $406,000 after acquiring an additional 496 shares during the period. Finally, Inspire Investing LLC raised its holdings in New Jersey Resources by 6.3% in the 3rd quarter. Inspire Investing LLC now owns 8,698 shares of the utilities provider’s stock valued at $411,000 after acquiring an additional 515 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Mizuho lifted their price objective on New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Wells Fargo & Company lifted their price target on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Guggenheim increased their price objective 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, November 27th. StockNews.com lowered shares of New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.75.

New Jersey Resources Stock Down 0.1 %

NJR opened at $51.58 on Monday. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 17.66 and a beta of 0.59. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.41 and a current ratio of 0.62. The firm’s 50-day simple moving average is $47.28 and its 200-day simple moving average is $45.54. New Jersey Resources Co. has a twelve month low of $39.44 and a twelve month high of $51.94.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources’s payout ratio is 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.