ICW Investment Advisors LLC Buys 414 Shares of New Jersey Resources Co. (NYSE:NJR)

ICW Investment Advisors LLC increased its stake in shares of New Jersey Resources Co. (NYSE:NJR) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,721 shares of the utilities provider’s stock after purchasing an additional 414 shares during the quarter. ICW Investment Advisors LLC’s holdings in New Jersey Resources were worth $827,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of New Jersey Resources by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,227,815 shares of the utilities provider’s stock valued at $57,953,000 after purchasing an additional 33,772 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in New Jersey Resources by 59.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 33,276 shares of the utilities provider’s stock valued at $1,552,000 after buying an additional 12,353 shares during the period. Bank of New York Mellon Corp lifted its holdings in New Jersey Resources by 8.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,211,702 shares of the utilities provider’s stock valued at $56,526,000 after buying an additional 96,393 shares during the period. Holocene Advisors LP lifted its holdings in New Jersey Resources by 22.2% in the third quarter. Holocene Advisors LP now owns 60,162 shares of the utilities provider’s stock valued at $2,840,000 after buying an additional 10,946 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in New Jersey Resources by 18.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 39,514 shares of the utilities provider’s stock valued at $1,843,000 after buying an additional 6,250 shares during the period. 70.98% of the stock is owned by institutional investors.

New Jersey Resources Trading Down 1.5 %

Shares of NYSE NJR opened at $48.46 on Monday. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 14.59 and a beta of 0.57. New Jersey Resources Co. has a twelve month low of $40.62 and a twelve month high of $51.95. The company’s fifty day moving average is $47.40 and its 200-day moving average is $47.31. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 1.29.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings data on Monday, February 3rd. The utilities provider reported $1.29 EPS for the quarter, beating the consensus estimate 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 posted $0.74 EPS. Equities research analysts predict that New Jersey Resources Co. will post 3.15 EPS for the current year.

New Jersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be given a $0.45 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.80 annualized dividend and a yield of 3.71%. New Jersey Resources’s dividend payout ratio is currently 54.22%.

Wall Street Analysts Forecast Growth

NJR has been the topic of several analyst reports. JPMorgan Chase & Co. cut 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. Wells Fargo & Company increased 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 report on Wednesday, November 27th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Guggenheim increased their price objective on shares of New Jersey Resources from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Four equities research 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 company. According to data from MarketBeat.com, New Jersey Resources has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

New Jersey Resources 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.