New Jersey Resources Corp. (NYSE:NJR) declared a quarterly dividend on Wednesday, November 16th. Investors of record on Thursday, December 15th will be given a dividend of 0.255 per share on Tuesday, January 3rd. This represents a $1.02 annualized dividend and a yield of 2.96%. This is a boost from New Jersey Resources Corp.’s previous quarterly dividend of $0.24.

New Jersey Resources Corp. (NYSE:NJR) opened at 34.45 on Thursday. The company’s 50-day moving average is $32.81 and its 200 day moving average is $35.03. New Jersey Resources Corp. has a 1-year low of $28.02 and a 1-year high of $38.92. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 26.85 and a beta of 0.38.

Dividend History for New Jersey Resources Corp. (NYSE:NJR)

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NJR. Trexquant Investment LP purchased a new position in New Jersey Resources Corp. during the second quarter valued at about $214,000. Pacer Advisors Inc. purchased a new position in New Jersey Resources Corp. during the second quarter valued at about $266,000. National Asset Management Inc. increased its position in New Jersey Resources Corp. by 0.3% in the second quarter. National Asset Management Inc. now owns 7,246 shares of the company’s stock valued at $280,000 after buying an additional 21 shares in the last quarter. Cantab Capital Partners LLP increased its position in New Jersey Resources Corp. by 31.1% in the second quarter. Cantab Capital Partners LLP now owns 9,409 shares of the company’s stock valued at $363,000 after buying an additional 2,231 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in New Jersey Resources Corp. by 8.7% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,205 shares of the company’s stock valued at $393,000 after buying an additional 816 shares in the last quarter. 60.55% of the stock is owned by institutional investors.

Several research analysts have commented on NJR shares. TheStreet downgraded New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Zacks Investment Research downgraded New Jersey Resources Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Argus reissued a “buy” rating and set a $42.00 target price on shares of New Jersey Resources Corp. in a research note on Friday, September 16th. Finally, Guggenheim started coverage on New Jersey Resources Corp. in a research note on Thursday, November 3rd. They set a “buy” rating and a $36.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. New Jersey Resources Corp. currently has a consensus rating of “Hold” and an average target price of $37.10.

New Jersey Resources Corp. Company Profile

New Jersey Resources Corporation (NJR) is an energy services holding company that provides retail and wholesale energy services to customers primarily in the Gulf Coast, Mid-Continent, Appalachian, Northeastern, and Western market areas of the United States, as well as Canada. The Company operates within four reportable business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream (formerly Energy Holdings).

5 Day Chart for NYSE:NJR

Receive News & Stock Ratings for New Jersey Resources Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Jersey Resources Corp. and related stocks with our FREE daily email newsletter.