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NJR - New Jersey Resources Corporation Is Too Expensive
NewJersey Resources Corporation
The shares have underperformed the overall market since I recommended avoiding the name over a year ago. After reviewing again, I'm still not impressed.
The capital structure has deteriorated fairly substantially, and the amount of upcoming contractual obligations is rather high. In spite of this, the stock is trading at a rich valuation.
In my previous missive, I made a good risk-adjusted return selling put options. That tactic isn't available now, I'm afraid.