MetLife Investment Management LLC Has $5.01 Million Holdings in New Jersey Resources Co. (NYSE:NJR)

MetLife Investment Management LLC lessened its position in New Jersey Resources Co. (NYSE:NJR) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,136 shares of the utilities provider’s stock after selling 750 shares during the quarter. MetLife Investment Management LLC owned about 0.11% of New Jersey Resources worth $5,010,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of New Jersey Resources by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,956,772 shares of the utilities provider’s stock worth $126,372,000 after purchasing an additional 154,441 shares during the period. Bank of New York Mellon Corp increased its position in New Jersey Resources by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,284,245 shares of the utilities provider’s stock worth $54,889,000 after buying an additional 40,094 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of New Jersey Resources by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,227,815 shares of the utilities provider’s stock worth $57,953,000 after buying an additional 33,772 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of New Jersey Resources by 39.9% in the second quarter. AQR Capital Management LLC now owns 618,379 shares of the utilities provider’s stock valued at $26,430,000 after acquiring an additional 176,396 shares during the period. Finally, Segall Bryant & Hamill LLC grew its stake in shares of New Jersey Resources by 4.4% in the third quarter. Segall Bryant & Hamill LLC now owns 422,000 shares of the utilities provider’s stock worth $19,918,000 after acquiring an additional 17,664 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

New Jersey Resources Stock Down 0.1 %

Shares of NJR opened at $51.58 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average price of $47.28 and a two-hundred day moving average price of $45.54. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 17.66 and a beta of 0.59. New Jersey Resources Co. has a 12 month low of $39.44 and a 12 month high of $51.94.

New Jersey Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.80 annualized dividend and a dividend yield of 3.49%. New Jersey Resources’s dividend payout ratio (DPR) is presently 61.64%.

Analyst Ratings Changes

A number of brokerages have weighed in on NJR. JPMorgan Chase & Co. increased their price target on shares of New Jersey Resources from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. StockNews.com downgraded New Jersey Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their price target on New Jersey Resources from $51.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Mizuho raised their price objective on New Jersey Resources from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, Guggenheim boosted their price objective on New Jersey Resources from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $49.75.

New Jersey Resources 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.