Dynamic Technology Lab Private Ltd Purchases 22,538 Shares of New Jersey Resources Co. (NYSE:NJR)

Dynamic Technology Lab Private Ltd boosted its holdings in shares of New Jersey Resources Co. (NYSE:NJR) by 247.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,646 shares of the utilities provider’s stock after acquiring an additional 22,538 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in New Jersey Resources were worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NJR. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of New Jersey Resources by 3.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,840 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 307 shares in the last quarter. Good Life Advisors LLC raised its holdings in New Jersey Resources by 1.0% during the 3rd quarter. Good Life Advisors LLC now owns 34,316 shares of the utilities provider’s stock worth $1,620,000 after buying an additional 333 shares during the period. Creative Planning lifted its stake in New Jersey Resources by 2.4% in the third quarter. Creative Planning now owns 20,514 shares of the utilities provider’s stock valued at $968,000 after buying an additional 481 shares in the last quarter. Strategy Asset Managers LLC boosted its holdings in shares of New Jersey Resources by 6.1% in the third quarter. Strategy Asset Managers LLC now owns 8,592 shares of the utilities provider’s stock valued at $406,000 after buying an additional 496 shares during the period. Finally, Inspire Investing LLC increased its position in shares of New Jersey Resources by 6.3% during the third quarter. Inspire Investing LLC now owns 8,698 shares of the utilities provider’s stock worth $411,000 after acquiring an additional 515 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NJR has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their target price on New Jersey Resources from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Mizuho upped their price target 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. Finally, StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, New Jersey Resources presently has an average rating of “Hold” and an average price target of $49.00.

New Jersey Resources Stock Performance

NJR opened at $51.50 on Tuesday. The business’s 50-day simple moving average is $46.99 and its 200 day simple moving average is $45.34. New Jersey Resources Co. has a 52-week low of $39.44 and a 52-week high of $51.80. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.41 and a current ratio of 0.60. The firm has a market capitalization of $5.11 billion, a PE ratio of 21.55 and a beta of 0.59.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Wednesday, December 11th. New Jersey Resources’s payout ratio is presently 75.31%.

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.