The stock of New Jersey Resources Corporation (NJR) has seen a 0.76% increase in the past week, with a 0.91% gain in the past month, and a 1.69% flourish in the past quarter. The volatility ratio for the week is 1.74%, and the volatility levels for the past 30 days are at 1.57% for NJR. The simple moving average for the last 20 days is -0.10% for NJR stock, with a simple moving average of -1.49% for the last 200 days.
Is It Worth Investing in New Jersey Resources Corporation (NYSE: NJR) Right Now?
The price-to-earnings ratio for New Jersey Resources Corporation (NYSE: NJR) is 17.36x, which is above its average ratio. Moreover, the 36-month beta value for NJR is 0.65. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 2 as “overweight,” 5 as “hold,” and 0 as “sell.”
The public float for NJR is 97.79M and currently, short sellers hold a 2.67% of that float. On April 19, 2024, NJR’s average trading volume was 522.41K shares.
NJR) stock’s latest price update
New Jersey Resources Corporation (NYSE: NJR)’s stock price has increased by 1.54 compared to its previous closing price of 41.55. However, the company has seen a 0.76% increase in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-10 that New Jersey Resources (NJR) makes a strong case for investment, given its growth prospects, capability to increase shareholders’ value and strong ROE.
Analysts’ Opinion of NJR
Many brokerage firms have already submitted their reports for NJR stocks, with JP Morgan repeating the rating for NJR by listing it as a “Neutral.” The predicted price for NJR in the upcoming period, according to JP Morgan is $46 based on the research report published on September 21, 2023 of the previous year 2023.
JP Morgan, on the other hand, stated in their research note that they expect to see NJR reach a price target of $46, previously predicting the price at $47. The rating they have provided for NJR stocks is “Underweight” according to the report published on September 09th, 2022.
Mizuho gave a rating of “Neutral” to NJR, setting the target price at $42 in the report published on January 05th of the previous year.
NJR Trading at 0.49% from the 50-Day Moving Average
After a stumble in the market that brought NJR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -21.84% of loss for the given period.
Volatility was left at 1.57%, however, over the last 30 days, the volatility rate increased by 1.74%, as shares surge +0.45% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.13% upper at present.
During the last 5 trading sessions, NJR rose by +0.76%, which changed the moving average for the period of 200-days by -11.01% in comparison to the 20-day moving average, which settled at $42.24. In addition, New Jersey Resources Corporation saw -5.36% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NJR starting from Migliaccio Patrick J., who sale 3,000 shares at the price of $42.71 back on Mar 12 ’24. After this action, Migliaccio Patrick J. now owns 38,886 shares of New Jersey Resources Corporation, valued at $128,130 using the latest closing price.
Migliaccio Patrick J., the Senior VP and COO, NJNG of New Jersey Resources Corporation, sale 3,579 shares at $44.29 during a trade that took place back on Dec 21 ’23, which means that Migliaccio Patrick J. is holding 41,886 shares at $158,514 based on the most recent closing price.
Stock Fundamentals for NJR
Current profitability levels for the company are sitting at:
- 0.22 for the present operating margin
- 0.34 for the gross margin
The net margin for New Jersey Resources Corporation stands at 0.14. The total capital return value is set at 0.06. Equity return is now at value 11.94, with 3.57 for asset returns.
Based on New Jersey Resources Corporation (NJR), the company’s capital structure generated 0.62 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at 1.64. The interest coverage ratio of the stock is 2.96.
Currently, EBITDA for the company is 586.02 million with net debt to EBITDA at 6.09. When we switch over and look at the enterprise to sales, we see a ratio of 4.41. The receivables turnover for the company is 6.17for trailing twelve months and the total asset turnover is 0.25. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.70.
Conclusion
To wrap up, the performance of New Jersey Resources Corporation (NJR) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
