Wealth Enhancement Advisory Services LLC Has $483,000 Position in New Jersey Resources Co. (NYSE:NJR)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 12.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 10,347 shares of the utilities provider’s stock after purchasing an additional 1,162 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in New Jersey Resources were worth $483,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Roxbury Financial LLC bought a new position in shares of New Jersey Resources in the 4th quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of New Jersey Resources in the fourth quarter valued at approximately $42,000. Ameriflex Group Inc. acquired a new stake in shares of New Jersey Resources in the fourth quarter worth $51,000. Lazard Asset Management LLC lifted its stake in shares of New Jersey Resources by 6,245.8% in the fourth quarter. Lazard Asset Management LLC now owns 1,523 shares of the utilities provider’s stock worth $71,000 after buying an additional 1,499 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of New Jersey Resources by 13,692.3% during the 4th quarter. Quarry LP now owns 1,793 shares of the utilities provider’s stock worth $84,000 after buying an additional 1,780 shares during the period. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Roberto Bel sold 2,346 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $48.58, for a total transaction of $113,968.68. Following the completion of the transaction, the chief financial officer now owns 23,822 shares in the company, valued at $1,157,272.76. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of New Jersey Resources from $51.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. New Street Research set a $51.00 price target on New Jersey Resources in a research report on Tuesday, April 1st. Jefferies Financial Group assumed coverage on New Jersey Resources in a research report on Tuesday, April 1st. They set a “hold” rating and a $51.00 price objective for the company. Wall Street Zen upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. dropped their price target on New Jersey Resources from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 28th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $51.67.

New Jersey Resources Stock Performance

NYSE:NJR opened at $44.84 on Friday. The firm’s 50-day moving average is $47.22 and its 200-day moving average is $47.52. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 13.51 and a beta of 0.62. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.61 and a current ratio of 0.89. New Jersey Resources Co. has a 52-week low of $41.68 and a 52-week high of $51.95.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, May 5th. The utilities provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.11. The firm had revenue of $913.03 million for the quarter, compared to the consensus estimate of $732.00 million. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. The business’s revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 earnings per share. Equities research analysts anticipate that New Jersey Resources Co. will post 3.15 earnings per share for the current year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.01%. New Jersey Resources’s dividend payout ratio (DPR) is currently 43.69%.

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.