New Jersey Stock Hits New 52-Week High (NJR)

NEW YORK ( TheStreet) -- New Jersey Resources Corporation (NYSE: NJR) hit a new 52-week high Monday as it is currently trading at $47.51, above its previous 52-week high of $47.45 with 165,381 shares traded as of three p.m. ET. Average volume has been 242,300 shares over the past 30 days.

New Jersey has a market cap of $1.9 billion and is part of the utilities sector and utilities industry. Shares are up 5.3% year to date as of the close of trading on Friday.

New Jersey Resources Corporation provides retail and wholesale energy services. It operates in two segments, Natural Gas Distribution and Energy Services. The company has a P/E ratio of 17.1, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates New Jersey as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, robust revenue growth, solid stock price performance, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full New Jersey Ratings Report.

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