New Jersey Resources Co. (NYSE:NJR) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in New Jersey Resources Co. (NYSE:NJR) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,227,815 shares of the utilities provider’s stock after purchasing an additional 33,772 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.24% of New Jersey Resources worth $57,953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NJR. Intech Investment Management LLC raised its position in shares of New Jersey Resources by 110.5% in the third quarter. Intech Investment Management LLC now owns 18,897 shares of the utilities provider’s stock valued at $892,000 after buying an additional 9,918 shares during the last quarter. Strategy Asset Managers LLC raised its holdings in New Jersey Resources by 6.1% in the 3rd 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 last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of New Jersey Resources by 4.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider’s stock worth $19,918,000 after purchasing an additional 17,664 shares during the period. J. W. Coons Advisors LLC acquired a new stake in shares of New Jersey Resources during the third quarter worth $221,000. Finally, Quest Partners LLC grew its position in shares of New Jersey Resources by 302.0% in the third quarter. Quest Partners LLC now owns 39,369 shares of the utilities provider’s stock valued at $1,858,000 after purchasing an additional 29,575 shares during the period. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

New Jersey Resources Trading Down 0.1 %

Shares of NJR stock opened at $51.58 on Friday. New Jersey Resources Co. has a fifty-two week low of $39.44 and a fifty-two week high of $51.94. The firm’s 50 day moving average price is $47.28 and its two-hundred day moving average price is $45.52. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 17.66 and a beta of 0.59. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.31.

New Jersey Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given 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 yield of 3.49%. New Jersey Resources’s dividend payout ratio (DPR) is 61.64%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NJR. JPMorgan Chase & Co. raised their price target on New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. StockNews.com downgraded shares of New Jersey Resources from a “hold” rating to a “sell” rating in a report on Tuesday. Guggenheim increased their price target on shares of New Jersey Resources from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company boosted their price objective on shares of New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Mizuho increased 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.75.

About New Jersey Resources

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.