Wells Fargo & Company MN Has $108.89 Million Stock Holdings in New Jersey Resources Co. (NYSE:NJR)

Wells Fargo & Company MN trimmed its position in New Jersey Resources Co. (NYSE:NJR) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,442,546 shares of the utilities provider’s stock after selling 144,046 shares during the quarter. Wells Fargo & Company MN’s holdings in New Jersey Resources were worth $108,889,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in shares of New Jersey Resources in the 4th quarter valued at $26,000. Parkside Financial Bank & Trust bought a new stake in shares of New Jersey Resources during the 4th quarter valued at approximately $29,000. Headlands Technologies LLC acquired a new position in New Jersey Resources during the 4th quarter worth approximately $31,000. GAMMA Investing LLC acquired a new stake in New Jersey Resources in the fourth quarter valued at approximately $40,000. Finally, Fifth Third Bancorp grew its stake in shares of New Jersey Resources by 68.0% during the third quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock worth $41,000 after buying an additional 412 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on NJR shares. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Mizuho decreased their price objective on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, February 5th.

New Jersey Resources Price Performance

New Jersey Resources stock opened at $43.74 on Thursday. The stock’s 50 day moving average price is $43.07 and its two-hundred day moving average price is $42.83. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 17.29 and a beta of 0.62. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.56 and a current ratio of 0.70. New Jersey Resources Co. has a 52-week low of $38.92 and a 52-week high of $50.72.

New Jersey Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Wednesday, June 12th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.84%. New Jersey Resources’s dividend payout ratio is currently 66.40%.

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.