NewJersey Resources Corporation (NYSE:NJR) Short Interest Up 23.4% in December

NewJersey Resources Corporation (NYSE:NJR) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 2,602,170 shares, a growth of 23.4% from the November 30th total of 2,108,223 shares. Based on an average trading volume of 604,553 shares, the days-to-cover ratio is currently 4.3 days. Approximately 2.6% of the company’s shares are short sold. Approximately 2.6% of the company’s shares are short sold. Based on an average trading volume of 604,553 shares, the days-to-cover ratio is currently 4.3 days.

Wall Street Analyst Weigh In

NJR has been the topic of a number of research reports. New Street Research set a $54.00 price target on NewJersey Resources in a report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NewJersey Resources in a research report on Monday. Raymond James Financial reiterated an “outperform” rating and issued a $53.00 price target on shares of NewJersey Resources in a research report on Thursday, November 20th. Wall Street Zen downgraded NewJersey Resources from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Mizuho raised NewJersey Resources from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $51.00 to $54.00 in a research note on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $52.86.

Insider Buying and Selling

In related news, COO Patrick J. Migliaccio sold 4,017 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $46.46, for a total value of $186,629.82. Following the completion of the transaction, the chief operating officer directly owned 38,065 shares in the company, valued at approximately $1,768,499.90. This represents a 9.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Institutional Trading of NewJersey Resources

Several hedge funds and other institutional investors have recently modified their holdings of NJR. IFP Advisors Inc increased its position in NewJersey Resources by 24.9% in the 3rd quarter. IFP Advisors Inc now owns 1,878 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 374 shares during the last quarter. Swiss Life Asset Management Ltd bought a new stake in NewJersey Resources during the 3rd quarter valued at approximately $212,000. CIBC Private Wealth Group LLC boosted its position in shares of NewJersey Resources by 164.9% in the third quarter. CIBC Private Wealth Group LLC now owns 1,682 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 1,047 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in NewJersey Resources in the 3rd quarter worth $519,000. Finally, Chartist Inc. CA acquired a new stake in NewJersey Resources during the third quarter worth about $408,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

NewJersey Resources Stock Performance

NJR stock traded down $0.21 during trading on Wednesday, hitting $46.14. 143,189 shares of the company’s stock traded hands, compared to its average volume of 613,495. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 13.86 and a beta of 0.61. The stock has a fifty day moving average price of $46.17 and a two-hundred day moving average price of $46.27. NewJersey Resources has a 52 week low of $43.46 and a 52 week high of $50.76. The company has a quick ratio of 0.40, a current ratio of 0.73 and a debt-to-equity ratio of 1.36.

NewJersey Resources (NYSE:NJR) last posted its earnings results on Wednesday, November 19th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $336.08 million during the quarter, compared to analyst estimates of $307.30 million. NewJersey Resources had a net margin of 16.48% and a return on equity of 13.73%. NewJersey Resources’s revenue was down 15.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. NewJersey Resources has set its FY 2026 guidance at 3.030-3.180 EPS. As a group, equities analysts anticipate that NewJersey Resources will post 3.15 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Friday, December 12th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.90 annualized dividend and a dividend yield of 4.1%. NewJersey Resources’s dividend payout ratio is currently 57.06%.

About NewJersey Resources

New Jersey Resources Corporation is a publicly traded energy services holding company headquartered in Wall Township, New Jersey. The firm’s primary focus is on the safe and reliable distribution of natural gas, along with complementary energy services and renewable energy investments. Its operations center on delivering cost-effective solutions to residential, commercial and industrial customers throughout the state.

The company’s principal subsidiary, New Jersey Natural Gas, owns and operates an extensive pipeline network that spans northern, central and southern New Jersey.