NewJersey Resources Corporation (NYSE:NJR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

According to Zacks, “NJ RESOURCES is an exempt energy svcs holding company providing retail & wholesale natural gas & related energy services to customers from the Gulf Coast to New England. Subsidiaries include: (1) N J Natural Gas Co, a natural gas distribution company that provides regulated energy & appliance services to residential, commercial & industrial customers in central & northern N J. (2) NJR Energy Holdings Corp formerly NJR Energy Svcs Corp & (3) NJR Development Corp, a sub-holding company of NJR, which includes the Company’s remaining unregulated operating subsidiaries. “

A number of other analysts have also recently weighed in on the stock. Argus upped their target price on shares of NewJersey Resources Corporation from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, August 28th. BidaskClub raised shares of NewJersey Resources Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Finally, Bank of America Corporation upped their target price on shares of NewJersey Resources Corporation from $35.00 to $38.00 and gave the company an “underperform” rating in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $42.00.

Shares of NewJersey Resources Corporation (NYSE:NJR) opened at $44.75 on Friday. The firm has a market cap of $3,894.24, a PE ratio of 24.46, a P/E/G ratio of 4.01 and a beta of 0.45. NewJersey Resources Corporation has a 52 week low of $32.38 and a 52 week high of $45.45. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.82 and a quick ratio of 0.55.

TRADEMARK VIOLATION WARNING: This report was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/11/18/newjersey-resources-corporation-njr-raised-to-hold-at-zacks-investment-research.html.

Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in NewJersey Resources Corporation by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,057 shares of the utilities provider’s stock worth $121,000 after buying an additional 244 shares during the last quarter. Patten Group Inc. grew its stake in NewJersey Resources Corporation by 2,111.9% during the third quarter. Patten Group Inc. now owns 66,357 shares of the utilities provider’s stock worth $126,000 after buying an additional 63,357 shares during the last quarter. Advisor Group Inc. grew its stake in NewJersey Resources Corporation by 59.7% during the second quarter. Advisor Group Inc. now owns 4,251 shares of the utilities provider’s stock worth $163,000 after buying an additional 1,589 shares during the last quarter. Flinton Capital Management LLC grew its stake in NewJersey Resources Corporation by 92.2% during the second quarter. Flinton Capital Management LLC now owns 4,336 shares of the utilities provider’s stock worth $172,000 after buying an additional 2,080 shares during the last quarter. Finally, Mosaic Family Wealth LLC grew its stake in NewJersey Resources Corporation by 5.9% during the second quarter. Mosaic Family Wealth LLC now owns 4,359 shares of the utilities provider’s stock worth $173,000 after buying an additional 243 shares during the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

NewJersey Resources Corporation Company Profile

New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.

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