Short Interest in NewJersey Resources Corporation (NYSE:NJR) Increases By 23.4%

NewJersey Resources Corporation (NYSE:NJR) was the recipient of a large growth in short interest in 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. Currently, 2.6% of the company’s shares are short sold. Based on an average daily volume of 604,553 shares, the days-to-cover ratio is currently 4.3 days. Based on an average daily volume of 604,553 shares, the days-to-cover ratio is currently 4.3 days. Currently, 2.6% of the company’s shares are short sold.

Insider Transactions at NewJersey Resources

In other NewJersey Resources news, COO Patrick J. Migliaccio sold 4,017 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $46.46, for a total transaction of $186,629.82. Following the completion of the sale, the chief operating officer directly owned 38,065 shares of the company’s stock, valued at approximately $1,768,499.90. This represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Trading of NewJersey Resources

Several large investors have recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC bought a new position in shares of NewJersey Resources during the 3rd quarter valued at $28,000. Bessemer Group Inc. increased its position in NewJersey Resources by 60.1% during the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after buying an additional 230 shares during the last quarter. Tradewinds Capital Management LLC acquired a new position in NewJersey Resources during the third quarter worth $30,000. Cullen Frost Bankers Inc. raised its holdings in NewJersey Resources by 153.0% during the second quarter. Cullen Frost Bankers Inc. now owns 754 shares of the utilities provider’s stock valued at $34,000 after buying an additional 456 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of NewJersey Resources in the third quarter worth about $48,000. 70.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. New Street Research set a $54.00 price objective on shares of NewJersey Resources in a research note on Wednesday, December 17th. Mizuho upgraded NewJersey Resources from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $51.00 to $54.00 in a report on Wednesday, December 17th. Raymond James Financial reissued an “outperform” rating and set a $53.00 price target on shares of NewJersey Resources in a research report on Thursday, November 20th. Wall Street Zen lowered NewJersey Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NewJersey Resources in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.86.

NewJersey Resources Price Performance

Shares of NYSE:NJR opened at $46.18 on Friday. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 13.87 and a beta of 0.60. NewJersey Resources has a 1 year low of $43.46 and a 1 year high of $50.76. The company has a current ratio of 0.73, a quick ratio of 0.40 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $46.18 and a 200 day simple moving average of $46.27.

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

NewJersey Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Friday, December 12th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, December 12th. NewJersey Resources’s dividend payout ratio (DPR) is presently 57.06%.

NewJersey Resources Company Profile

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.