Segall Bryant & Hamill LLC Acquires 17,664 Shares of New Jersey Resources Co. (NYSE:NJR)

Segall Bryant & Hamill LLC grew its stake in New Jersey Resources Co. (NYSE:NJR) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 422,000 shares of the utilities provider’s stock after buying an additional 17,664 shares during the period. Segall Bryant & Hamill LLC owned 0.43% of New Jersey Resources worth $19,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of New Jersey Resources in the 3rd quarter valued at about $27,000. Neo Ivy Capital Management bought a new position in shares of New Jersey Resources during the 2nd quarter worth approximately $31,000. GAMMA Investing LLC grew its position in shares of New Jersey Resources by 119.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,214 shares of the utilities provider’s stock worth $52,000 after buying an additional 661 shares during the period. Van ECK Associates Corp acquired a new stake in New Jersey Resources in the third quarter worth $52,000. Finally, Spirit of America Management Corp NY raised its holdings in shares of New Jersey Resources by 140.0% during the third quarter. Spirit of America Management Corp NY now owns 1,200 shares of the utilities provider’s stock valued at $57,000 after purchasing an additional 700 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

New Jersey Resources Stock Performance

NYSE NJR opened at $48.79 on Thursday. 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 company has a market capitalization of $4.84 billion, a PE ratio of 20.39 and a beta of 0.59. New Jersey Resources Co. has a 52-week low of $39.44 and a 52-week high of $48.85. The company has a 50-day simple moving average of $46.73 and a 200 day simple moving average of $45.17.

New Jersey Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.80 annualized dividend and a yield of 3.69%. New Jersey Resources’s payout ratio is 75.31%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NJR. Wells Fargo & Company upped their price target on New Jersey Resources from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their target price on shares of New Jersey Resources from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Mizuho raised their price objective on New Jersey Resources from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $49.00.

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.