TheStreet downgraded shares of New Jersey Resources (NYSE:NJR) from a b- rating to a c+ rating in a report published on Thursday, October 17th, TheStreetRatingsTable reports.
NJR has been the topic of several other research reports. ValuEngine lowered New Jersey Resources from a buy rating to a hold rating in a research note on Tuesday, October 1st. Guggenheim upgraded New Jersey Resources from a sell rating to a neutral rating in a research note on Thursday, July 11th. Finally, Zacks Investment Research upgraded New Jersey Resources from a sell rating to a hold rating in a research note on Wednesday, October 9th.
Shares of NYSE:NJR traded down $0.21 on Thursday, hitting $41.06. 368,009 shares of the company’s stock were exchanged, compared to its average volume of 408,716. New Jersey Resources has a 12 month low of $40.85 and a 12 month high of $51.83. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 2.43 and a beta of 0.31. The business’s 50 day simple moving average is $43.80 and its two-hundred day simple moving average is $47.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.88 and a quick ratio of 0.62.
In other New Jersey Resources news, CEO Laurence M. Downes sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total value of $990,000.00. Following the completion of the sale, the chief executive officer now owns 405,572 shares of the company’s stock, valued at $18,250,740. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NJR. CWM LLC lifted its holdings in shares of New Jersey Resources by 2,317.4% during the third quarter. CWM LLC now owns 556 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 533 shares during the period. AllSquare Wealth Management LLC acquired a new position in New Jersey Resources in the third quarter valued at approximately $36,000. Executive Wealth Management LLC acquired a new position in New Jersey Resources in the second quarter valued at approximately $45,000. Coastal Investment Advisors Inc. lifted its holdings in New Jersey Resources by 84.2% in the second quarter. Coastal Investment Advisors Inc. now owns 921 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 421 shares during the period. Finally, Stonebridge Capital Advisors LLC acquired a new position in New Jersey Resources in the second quarter valued at approximately $45,000. 67.04% of the stock is owned by institutional investors and hedge funds.
New Jersey Resources Company Profile
New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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