New Jersey Reaches New 52-Week High (NJR)

NEW YORK ( TheStreet) -- New Jersey Resources Corporation (NYSE: NJR) hit a new 52-week high Thursday as it is currently trading at $50.05, above its previous 52-week high of $49.99 with 114,107 shares traded as of 3:25 p.m. ET. Average volume has been 215,100 shares over the past 30 days.

New Jersey has a market cap of $2.06 billion and is part of the utilities sector and utilities industry. Shares are up 14.5% year to date as of the close of trading on Wednesday.

New Jersey Resources Corporation, an energy services holding company, provides retail and wholesale energy services. The company has a P/E ratio of 19.4, below the average utilities industry P/E ratio of 20.4 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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