John G Ullman & Associates Inc. Sells 1,300 Shares of New Jersey Resources Co. (NYSE:NJR)

John G Ullman & Associates Inc. decreased its holdings in New Jersey Resources Co. (NYSE:NJR) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 132,963 shares of the utilities provider’s stock after selling 1,300 shares during the quarter. John G Ullman & Associates Inc. owned 0.14% of New Jersey Resources worth $5,927,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. HighTower Advisors LLC lifted its position in New Jersey Resources by 2.0% in the 1st quarter. HighTower Advisors LLC now owns 11,888 shares of the utilities provider’s stock valued at $637,000 after acquiring an additional 238 shares in the last quarter. New York State Common Retirement Fund lifted its position in New Jersey Resources by 0.6% in the 3rd quarter. New York State Common Retirement Fund now owns 39,224 shares of the utilities provider’s stock valued at $1,594,000 after acquiring an additional 242 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in New Jersey Resources by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 25,644 shares of the utilities provider’s stock valued at $992,000 after acquiring an additional 261 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of New Jersey Resources by 2.3% during the 4th quarter. Arkadios Wealth Advisors now owns 11,765 shares of the utilities provider’s stock worth $524,000 after buying an additional 265 shares in the last quarter. Finally, Bedel Financial Consulting Inc. lifted its position in shares of New Jersey Resources by 5.0% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 5,897 shares of the utilities provider’s stock worth $278,000 after buying an additional 280 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

NJR has been the topic of several recent analyst reports. StockNews.com raised shares of New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Mizuho dropped their target price on shares of New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, February 5th.

New Jersey Resources Stock Performance

Shares of NJR stock traded up $1.03 during trading hours on Friday, hitting $43.22. 221,762 shares of the company were exchanged, compared to its average volume of 507,292. The firm has a fifty day simple moving average of $42.08 and a 200 day simple moving average of $42.43. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 1.33. New Jersey Resources Co. has a 52-week low of $38.92 and a 52-week high of $53.90. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 17.30 and a beta of 0.64.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.15). New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The company had revenue of $467.20 million for the quarter, compared to analysts’ expectations of $812.66 million. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s revenue for the quarter was down 35.4% on a year-over-year basis. Research analysts predict that New Jersey Resources Co. will post 2.94 earnings per share for the current fiscal year.

New Jersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.42 per share. The ex-dividend date was Tuesday, March 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.89%. New Jersey Resources’s payout ratio is currently 68.85%.

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.