New Jersey Resources (NYSE:NJR) Reaches New 1-Year Low – Here’s What Happened

New Jersey Resources Co. (NYSE:NJR)’s share price hit a new 52-week low during 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.

Analysts Set New Price Targets

Several research firms have weighed in on NJR. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Guggenheim upped their target price on shares of New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased 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 research report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price objective on New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, New Jersey Resources has a consensus rating of “Moderate Buy” and an average target price of $51.75.

New Jersey Resources Price Performance

The stock’s 50 day moving average is $46.76 and its two-hundred day moving average is $47.00. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.61. The stock has a market capitalization of $4.85 billion, a PE ratio of 14.57 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, beating analysts’ consensus estimates of $1.14 by $0.15. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. During the same period in the prior year, the firm posted $0.74 EPS. As a group, sell-side analysts forecast that New Jersey Resources Co. will post 3.15 earnings per share for the current fiscal year.

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Tuesday, March 11th. New Jersey Resources’s dividend payout ratio (DPR) is 54.22%.

Insider Transactions 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 shares were sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the transaction, the chief operating officer now owns 37,124 shares in the company, valued at approximately $1,707,704. This represents a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On New Jersey Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Roxbury Financial LLC acquired a new position in shares of New Jersey Resources in the 4th quarter valued at $25,000. FSA Wealth Management LLC acquired a new position in New Jersey Resources in the third quarter valued at $27,000. Versant Capital Management Inc raised its holdings in shares of New Jersey Resources by 9,400.0% in the fourth quarter. Versant Capital Management Inc now owns 665 shares of the utilities provider’s stock valued at $31,000 after buying an additional 658 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of New Jersey Resources by 69.8% during the fourth quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock worth $39,000 after buying an additional 345 shares during the period. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of New Jersey Resources during the fourth quarter worth about $42,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

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.