J. W. Coons Advisors LLC Has $287,000 Holdings in New Jersey Resources Co. (NYSE:NJR)

J. W. Coons Advisors LLC raised its holdings in New Jersey Resources Co. (NYSE:NJR) by 31.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,145 shares of the utilities provider’s stock after acquiring an additional 1,472 shares during the period. J. W. Coons Advisors LLC’s holdings in New Jersey Resources were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Nicholson Wealth Management Group LLC boosted its holdings in shares of New Jersey Resources by 57.3% in the fourth quarter. Nicholson Wealth Management Group LLC now owns 31,517 shares of the utilities provider’s stock valued at $1,470,000 after buying an additional 11,478 shares during the period. Good Life Advisors LLC boosted its stake in New Jersey Resources by 1.0% in the 4th 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 during the period. Atlas Legacy Advisors LLC bought a new position in New Jersey Resources during the 4th quarter worth about $314,000. Kestra Investment Management LLC acquired a new stake in shares of New Jersey Resources in the 4th quarter valued at about $497,000. Finally, Allworth Financial LP lifted its holdings in shares of New Jersey Resources by 2,052.9% in the fourth quarter. Allworth Financial LP now owns 31,238 shares of the utilities provider’s stock valued at $1,456,000 after purchasing an additional 29,787 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NJR has been the subject of several recent research reports. Guggenheim upped their price objective on New Jersey Resources from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price objective on shares of New Jersey Resources from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their target price on shares of New Jersey Resources from $51.00 to $54.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

New Jersey Resources Trading Up 1.6 %

NYSE NJR opened at $47.64 on Tuesday. New Jersey Resources Co. has a 12 month low of $40.51 and a 12 month high of $51.94. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29. The stock has a 50 day moving average of $46.63 and a 200-day moving average of $46.90. The company has a market cap of $4.78 billion, a PE ratio of 14.35 and a beta of 0.63.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings results on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.15. New Jersey Resources had a net margin of 18.25% and a return on equity of 15.72%. During the same period in the previous year, the company earned $0.74 earnings per share. On average, equities research analysts anticipate that New Jersey Resources Co. will post 3.15 EPS for the current fiscal year.

New Jersey Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.78%. New Jersey Resources’s dividend payout ratio is currently 54.22%.

Insiders Place Their Bets

In other New Jersey Resources news, COO Patrick J. Migliaccio sold 4,983 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $46.00, for a total transaction of $229,218.00. Following the completion of the sale, the chief operating officer now directly owns 37,124 shares in the company, valued at $1,707,704. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

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.