New Jersey Resources Corporation [NJR] is 20.90% higher this YTD. Is it still time to buy?

New Jersey Resources Corporation [NYSE: NJR] surged by $0.84 during the normal trading session on Friday and reaching a high of $49.73 during the day while it closed the day at $49.64. The company report on December 23, 2022 that New Jersey Resources Announces Executive Promotions.

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New Jersey Resources (NYSE: NJR) announced the following executive promotions that position the company to execute on its growth strategy and information technology (IT) priorities.

Jacqueline K. Shea has been promoted to Senior Vice President and Chief Information Officer. Ms. Shea joined NJR in 2016 as Vice President and Chief Information Officer after serving more than three decades in the IT industry. In this senior leadership role, she leads the digital transformation strategy and is responsible for overseeing the enterprise-wide modernization of NJR’s digital business applications and IT infrastructure in alignment with its core business strategies. Ms. Shea also leads the investment, planning and management of the company’s IT portfolio, including cyber security, information infrastructure, internet and business applications, technology innovation and overall end-user support.

New Jersey Resources Corporation stock has also gained 2.20% of its value over the past 7 days. However, NJR stock has inclined by 17.21% in the 3 months of the year. Over the past six months meanwhile, it has gained 11.40% and gained 20.90% year-on date.

The market cap for NJR stock reached $4.71 billion, with 96.23 million shares outstanding and 95.89 million shares in the current float. Compared to the average trading volume of 632.35K shares, NJR reached a trading volume of 285987 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about New Jersey Resources Corporation [NJR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NJR shares is $48.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NJR stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for New Jersey Resources Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on September 09, 2022. The new note on the price target was released on January 05, 2022, representing the official price target for New Jersey Resources Corporation stock. Previously, the target price had yet another raise to $39, while BofA Securities analysts kept a Underperform rating on NJR stock.

The Average True Range (ATR) for New Jersey Resources Corporation is set at 1.21, with the Price to Sales ratio for NJR stock in the period of the last 12 months amounting to 1.62. The Price to Book ratio for the last quarter was 2.63, with the Price to Cash per share for the same quarter was set at 0.01. Price to Free Cash Flow for NJR in the course of the last twelve months was 95.84 with Quick ratio for the last quarter at 0.40.

NJR stock trade performance evaluation

New Jersey Resources Corporation [NJR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.20. With this latest performance, NJR shares gained by 0.79% in over the last four-week period, additionally plugging by 11.40% over the last 6 months – not to mention a rise of 22.66% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NJR stock in for the last two-week period is set at 58.57, with the RSI for the last a single of trading hit 57.99, and the three-weeks RSI is set at 58.74 for New Jersey Resources Corporation [NJR]. The present Moving Average for the last 50 days of trading for this stock 46.40, while it was recorded at 48.97 for the last single week of trading, and 44.92 for the last 200 days.

New Jersey Resources Corporation [NJR]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and New Jersey Resources Corporation [NJR] shares currently have an operating margin of +13.62 and a Gross Margin at +13.62. New Jersey Resources Corporation’s Net Margin is presently recorded at +9.43.

Return on Equity for this stock inclined to 15.95, with Return on Assets sitting at 4.59.

New Jersey Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.70.

Earnings per share (EPS) analysis for New Jersey Resources Corporation [NJR] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NJR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for New Jersey Resources Corporation go to 6.00%.

New Jersey Resources Corporation [NJR]: Insider Ownership positions

There are presently around $3,622 million, or 77.70% of NJR stock, in the hands of institutional investors. The top three institutional holders of NJR stocks are: BLACKROCK INC. with ownership of 13,959,432, which is approximately -0.815% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 10,938,457 shares of the stock with an approximate value of $542.99 million in NJR stocks shares; and STATE STREET CORP, currently with $529.26 million in NJR stock with ownership of nearly 4.471% of the company’s market capitalization.

Positions in New Jersey Resources Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 145 institutional holders increased their position in New Jersey Resources Corporation [NYSE:NJR] by around 3,239,866 shares. Additionally, 118 investors decreased positions by around 1,830,006 shares, while 55 investors held positions by with 67,896,504 shares. The mentioned changes placed institutional holdings at 72,966,376 shares, according to the latest SEC report filing. NJR stock had 34 new institutional investments in for a total of 1,057,639 shares, while 27 institutional investors sold positions of 303,163 shares during the same period.

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