Zeke Capital Advisors LLC acquired a new stake in New Jersey Resources Corp (NYSE:NJR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,251 shares of the utilities provider’s stock, valued at approximately $211,000.

Other institutional investors also recently added to or reduced their stakes in the company. Patten Group Inc. raised its stake in shares of New Jersey Resources by 2,111.9% during the 3rd quarter. Patten Group Inc. now owns 66,357 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 63,357 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in New Jersey Resources during the 4th quarter valued at approximately $144,000. MHI Funds LLC acquired a new position in New Jersey Resources during the 4th quarter valued at approximately $179,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in New Jersey Resources by 54.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,731 shares of the utilities provider’s stock valued at $190,000 after purchasing an additional 1,674 shares in the last quarter. Finally, Tower Bridge Advisors acquired a new position in New Jersey Resources during the 4th quarter valued at approximately $201,000. 64.13% of the stock is owned by institutional investors.

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Shares of New Jersey Resources stock traded up $0.15 during midday trading on Thursday, reaching $39.35. 23,612 shares of the company were exchanged, compared to its average volume of 716,414. New Jersey Resources Corp has a 12-month low of $35.55 and a 12-month high of $45.45. The stock has a market capitalization of $3,420.58, a P/E ratio of 13.85, a PEG ratio of 2.50 and a beta of 0.35. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.62.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings data on Thursday, February 8th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.97. The business had revenue of $705.31 million for the quarter, compared to the consensus estimate of $564.47 million. New Jersey Resources had a net margin of 9.08% and a return on equity of 18.96%. The company’s revenue was up 30.4% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. equities analysts predict that New Jersey Resources Corp will post 2.6 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 2.77%. The ex-dividend date is Wednesday, March 14th. New Jersey Resources’s payout ratio is 42.91%.

A number of research analysts have issued reports on NJR shares. TheStreet upgraded shares of New Jersey Resources from a “c+” rating to a “b+” rating in a research note on Monday, March 12th. ValuEngine raised shares of New Jersey Resources from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Guggenheim reaffirmed a “buy” rating and issued a $42.00 price objective on shares of New Jersey Resources in a report on Friday, February 23rd. Janney Montgomery Scott raised shares of New Jersey Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, November 22nd. Finally, Zacks Investment Research raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. New Jersey Resources presently has a consensus rating of “Buy” and a consensus price target of $43.25.

In other New Jersey Resources news, VP Patrick J. Migliaccio sold 2,618 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $37.90, for a total transaction of $99,222.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

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New Jersey Resources Company Profile

New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.

Institutional Ownership by Quarter for New Jersey Resources (NYSE:NJR)

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