Zeke Capital Advisors LLC Takes Position in New Jersey Resources Corp (NJR)
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.
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.
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.
WARNING: This story was published by Watch List News and is owned by of Watch List News. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.watchlistnews.com/zeke-capital-advisors-llc-takes-position-in-new-jersey-resources-corp-njr/1957342.html.
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.
Receive News & Ratings for New Jersey Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Jersey Resources and related companies with MarketBeat.com's FREE daily email newsletter.