Strategy Asset Managers LLC Has $406,000 Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Strategy Asset Managers LLC lifted its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,592 shares of the utilities provider’s stock after acquiring an additional 496 shares during the period. Strategy Asset Managers LLC’s holdings in New Jersey Resources were worth $406,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in New Jersey Resources by 5.5% during the first quarter. Russell Investments Group Ltd. now owns 24,292 shares of the utilities provider’s stock valued at $1,042,000 after acquiring an additional 1,257 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in New Jersey Resources by 41.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,031 shares of the utilities provider’s stock valued at $2,061,000 after buying an additional 14,150 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in New Jersey Resources by 3.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 127,505 shares of the utilities provider’s stock valued at $5,475,000 after acquiring an additional 4,110 shares during the period. EntryPoint Capital LLC bought a new stake in shares of New Jersey Resources in the 1st quarter valued at approximately $125,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of New Jersey Resources by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 60,608 shares of the utilities provider’s stock worth $2,601,000 after buying an additional 6,039 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

New Jersey Resources Price Performance

NJR opened at $48.79 on Thursday. The company has a fifty day moving average price of $46.73 and a two-hundred day moving average price of $45.17. The firm has a market capitalization of $4.84 billion, a PE ratio of 20.41 and a beta of 0.59. New Jersey Resources Co. has a 52 week low of $39.44 and a 52 week high of $48.85. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.69%. New Jersey Resources’s dividend payout ratio (DPR) is presently 75.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NJR shares. JPMorgan Chase & Co. increased their price objective on shares of New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company increased their price objective on New Jersey Resources from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Mizuho boosted their target price on New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, New Jersey Resources has an average rating of “Hold” and an average price target of $49.00.

New Jersey 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.