New Jersey Resources (NYSE:NJR) Upgraded to Hold at StockNews.com

New Jersey Resources (NYSE:NJR) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

NJR has been the subject of a number of other research reports. 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 report on Wednesday, November 27th. Guggenheim upped their target price on New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. cut their price target on New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, New Jersey Resources currently has a consensus rating of “Moderate Buy” and an average price target of $50.50.

New Jersey Resources Stock Performance

NYSE:NJR traded down $1.62 during trading hours on Tuesday, reaching $46.47. 843,275 shares of the stock were exchanged, compared to its average volume of 561,744. The stock has a market capitalization of $4.64 billion, a P/E ratio of 15.91 and a beta of 0.63. The firm has a 50 day simple moving average of $47.60 and a 200-day simple moving average of $46.88. The company has a quick ratio of 0.36, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. New Jersey Resources has a 52 week low of $39.44 and a 52 week high of $51.94.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.15. New Jersey Resources had a return on equity of 13.54% and a net margin of 16.13%. During the same quarter in the previous year, the firm earned $0.74 EPS. As a group, sell-side analysts forecast that New Jersey Resources will post 3.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Patrick J. Migliaccio sold 4,983 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.00, for a total value of $229,218.00. Following the completion of the transaction, the chief operating officer now owns 37,124 shares in the company, valued at $1,707,704. This represents a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of New Jersey Resources

Institutional investors have recently made changes to their positions in the stock. Good Life Advisors LLC raised its holdings in New Jersey Resources by 1.0% during the fourth quarter. Good Life Advisors LLC now owns 34,643 shares of the utilities provider’s stock worth $1,616,000 after purchasing an additional 327 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of New Jersey Resources by 3.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,185 shares of the utilities provider’s stock valued at $434,000 after purchasing an additional 345 shares during the period. UMB Bank n.a. raised its stake in shares of New Jersey Resources by 69.8% in the 4th quarter. UMB Bank n.a. now owns 839 shares of the utilities provider’s stock worth $39,000 after buying an additional 345 shares in the last quarter. Greenwood Capital Associates LLC lifted its holdings in shares of New Jersey Resources by 1.5% in the fourth quarter. Greenwood Capital Associates LLC now owns 25,522 shares of the utilities provider’s stock valued at $1,191,000 after buying an additional 383 shares during the period. Finally, GAMMA Investing LLC boosted its stake in New Jersey Resources by 23.6% during the fourth quarter. GAMMA Investing LLC now owns 2,288 shares of the utilities provider’s stock valued at $107,000 after buying an additional 437 shares in the last quarter. 70.98% of the stock is owned by institutional investors and hedge funds.

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.