Monday, November 16, 2015

Recent Buy - New Jersey Resources

This week I decided to switch some things around in the portfolio. Nothing too major but in the wake of the pending sale of Piedmont Natural Gas (PNY) to Duke energy (DUK) I decided to sell my stake in PNY. Shares jumped around 20% after the big news last month and I thought I should sell just in case the merger doesn't go through for whatever reason. These things have to undergo regulatory approvals and such and I didn't feel like risking my gains by holding any longer.

So I wanted to replace that with a similar stock and I found one that fits perfectly. New Jersey Resources (NJR) is a relatively under-followed energy holding company. The company's primary business is regulated natural gas distribution to roughly 500,000 customers in New Jersey, it is also growing it's pipeline and storage business, as well as it's clean energy services.

I sold 160 shares of PNY @ 57.58
I purchased 355 shares of NJR @ $29.70

New Jersey Resources Chart

NJR Basic Statistics
  • Ticker Symbol: NJR
  • Sector: Utilities
  • Yield: 3.25%
  • Dividend Streak: 19 years
  • Annualized Dividend Growth 3yr: 6.6%
  • Payout Ratio: 50%
  • P/E Ratio: 17
  • Market cap:$2.6 Billion
  • Website:

NJR Dividend Growth