Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for New Jersey Resources Corp (NYSE: NJR) improved in the last week. NJR’s current Value Trend Rating is C and the prior Rating was D. Details supporting this higher rating are included in our next report.
Recent Price Action
On 9/20/19, New Jersey Resources Corp (NYSE: NJR) stock declined slightly by -0.2%, closing at $44.36. Moreover, exceptionally high trading volume at 251% of normal accompanied the decline. The stock has performed in line with the market over the last nine months and has declined -1.6% during the last week.
Current PriceTarget Research Rating
NJR is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
New Jersey Resources has a current Value Trend Rating of C (Low Neutral). This VT Rating improved in recent days from D previously. The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. New Jersey Resources has a neutral Power Rating of 47 and a slightly negative Appreciation Score of 39, triggering the Low Neutral Value Trend Rating.