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

NEW YORK ( TheStreet) -- New Jersey Resources Corporation (NYSE: NJR) hit a new 52-week high Tuesday as it is currently trading at $48.50, above its previous 52-week high of $48.47 with 41,391 shares traded as of 10:55 a.m. ET. Average volume has been 223,700 shares over the past 30 days.

New Jersey has a market cap of $1.97 billion and is part of the utilities sector and utilities industry. Shares are up 9% year to date as of the close of trading on Monday.

New Jersey Resources Corporation, an energy services holding company, provides retail and wholesale energy services. The company has a P/E ratio of 18.5, below the average utilities industry P/E ratio of 19.5 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates New Jersey as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full New Jersey Ratings Report.

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