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Can New Jersey Resources (NJR) Continue to Surge?

Zacks Equity Research

One company that should be on your radar is New Jersey Resources Corp. (NJR). The stock of this Gas Distribution company has seen its Zacks Rank surge over the past four weeks, moving from Sell territory to its current position as a Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For NJR’s full year estimate, we have seen 3 estimates go higher in the past 30 days, compared to no lower. This trend has helped the consensus estimate to trend higher, going from $2.87 a share a month ago to its current level at $3.99.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, NJR has seen some pretty solid trading lately, as the company has moved higher by 12.1% in the past month.
If New Jersey Resources can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put NJR on your watch list for the future.
Other top-ranked stocks worth considering in this space include Delta Natural Gas Company, Inc. (DGAS), Atmos Energy Corporation (ATO) and Piedmont Natural Gas Co. Inc. (PNY). While Delta Natural holds a Zacks Rank #1 (Strong Buy), Atmos and Piedmont carry a Zacks Rank #2 (Buy).
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NEW JERSEY RESOURCES CORP (NJR): Free Stock Analysis Report

DELTA NATURAL GAS CO INC (DGAS): Free Stock Analysis Report

ATMOS ENERGY CORP (ATO): Free Stock Analysis Report

PIEDMONT NATURAL GAS CO INC (PNY): Free Stock Analysis Report

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