Fifth Third Bancorp Buys 27,495 Shares of NewJersey Resources Corporation $NJR

Fifth Third Bancorp increased its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 2,097.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,806 shares of the utilities provider’s stock after purchasing an additional 27,495 shares during the quarter. Fifth Third Bancorp’s holdings in NewJersey Resources were worth $1,582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NJR. Dimensional Fund Advisors LP boosted its holdings in shares of NewJersey Resources by 10.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,934,165 shares of the utilities provider’s stock valued at $181,446,000 after acquiring an additional 367,844 shares in the last quarter. Geode Capital Management LLC increased its holdings in NewJersey Resources by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,629,373 shares of the utilities provider’s stock worth $121,285,000 after purchasing an additional 10,448 shares in the last quarter. Northern Trust Corp increased its holdings in NewJersey Resources by 1.1% in the 3rd quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock worth $64,297,000 after purchasing an additional 14,512 shares in the last quarter. Norges Bank bought a new position in NewJersey Resources in the fourth quarter valued at about $60,075,000. Finally, Morgan Stanley boosted its stake in shares of NewJersey Resources by 19.4% during the fourth quarter. Morgan Stanley now owns 1,283,533 shares of the utilities provider’s stock valued at $59,197,000 after purchasing an additional 208,388 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 27th. Wells Fargo & Company initiated coverage on shares of NewJersey Resources in a research note on Tuesday, May 12th. They issued an “overweight” rating and a $63.00 price objective on the stock. Mizuho boosted their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Finally, Argus set a $63.00 price objective on NewJersey Resources in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $58.17.

NewJersey Resources Trading Up 0.9%

Shares of NJR stock opened at $59.38 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $60.69. The stock has a 50 day simple moving average of $56.60 and a two-hundred day simple moving average of $54.37. The company has a market cap of $5.99 billion, a P/E ratio of 17.62 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.31. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The firm had revenue of $939.40 million for the quarter, compared to analyst estimates of $849.95 million. During the same quarter in the prior year, the business earned $1.78 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Research analysts forecast that NewJersey Resources Corporation will post 3.58 earnings per share for the current year.

Insider Activity at NewJersey Resources

In other NewJersey Resources news, insider Christopher T. D’antuono sold 1,150 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $57.34, for a total transaction of $65,941.00. Following the transaction, the insider owned 2,985 shares in the company, valued at approximately $171,159.90. This represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jane M. Kenny sold 8,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $56.10, for a total transaction of $448,800.00. Following the completion of the transaction, the director directly owned 21,998 shares in the company, valued at $1,234,087.80. This trade represents a 26.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 12,150 shares of company stock valued at $682,261. 0.70% of the stock is owned by company insiders.

NewJersey Resources Company Profile

New Jersey Resources Corporation is a publicly traded energy services holding company headquartered in Wall Township, New Jersey. The firm’s primary focus is on the safe and reliable distribution of natural gas, along with complementary energy services and renewable energy investments. Its operations center on delivering cost-effective solutions to residential, commercial and industrial customers throughout the state.

The company’s principal subsidiary, New Jersey Natural Gas, owns and operates an extensive pipeline network that spans northern, central and southern New Jersey.