New Jersey Resources (NYSE:NJR) Sets New 1-Year Low – What’s Next?

New Jersey Resources Co. (NYSE:NJR) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $40.00 and last traded at $47.61, with a volume of 534 shares changing hands. The stock had previously closed at $48.03.

Analyst Upgrades and Downgrades

NJR has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. cut their price target on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Guggenheim upped their price target on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, New Jersey Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

New Jersey Resources Stock Performance

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. The stock’s fifty day simple moving average is $46.69 and its 200 day simple moving average is $46.96. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 14.30 and a beta of 0.63.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.15. New Jersey Resources had a return on equity of 15.72% and a net margin of 18.25%. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, March 11th. New Jersey Resources’s dividend payout ratio (DPR) is presently 54.22%.

Insider Buying and Selling at New Jersey Resources

In other news, COO Patrick J. Migliaccio sold 4,983 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $46.00, for a total value of $229,218.00. Following the transaction, the chief operating officer now owns 37,124 shares of the company’s stock, valued at $1,707,704. This represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of New Jersey Resources

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System increased its position in shares of New Jersey Resources by 1.1% during the fourth quarter. Arizona State Retirement System now owns 28,781 shares of the utilities provider’s stock valued at $1,343,000 after acquiring an additional 325 shares during the last quarter. Good Life Advisors LLC increased its holdings in New Jersey Resources by 1.0% in the 4th quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider’s stock valued at $1,616,000 after purchasing an additional 327 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in New Jersey Resources by 3.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,185 shares of the utilities provider’s stock valued at $434,000 after purchasing an additional 345 shares during the period. UMB Bank n.a. raised its position in New Jersey Resources by 69.8% in the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 345 shares during the period. Finally, Greenwood Capital Associates LLC lifted its stake in New Jersey Resources by 1.5% during the fourth quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider’s stock worth $1,191,000 after purchasing an additional 383 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

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.