PNC Financial Services Group Inc. Has $2.15 Million Stock Position in NewJersey Resources Corporation $NJR

PNC Financial Services Group Inc. raised its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 29.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,535 shares of the utilities provider’s stock after purchasing an additional 10,666 shares during the period. PNC Financial Services Group Inc.’s holdings in NewJersey Resources were worth $2,146,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in NewJersey Resources by 19.1% during the fourth quarter. Fifth Third Bancorp now owns 1,311 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 210 shares in the last quarter. US Bancorp DE raised its position in NewJersey Resources by 7.9% during the third quarter. US Bancorp DE now owns 3,127 shares of the utilities provider’s stock valued at $151,000 after purchasing an additional 228 shares in the last quarter. Bessemer Group Inc. raised its position in NewJersey Resources by 60.1% during the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 230 shares in the last quarter. Horizon Investment Services LLC raised its position in NewJersey Resources by 4.7% during the third quarter. Horizon Investment Services LLC now owns 6,057 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 273 shares in the last quarter. Finally, UMB Bank n.a. raised its position in NewJersey Resources by 19.7% during the third quarter. UMB Bank n.a. now owns 1,680 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 277 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Williams Trading set a $55.00 price objective on shares of NewJersey Resources in a research report on Tuesday, February 3rd. Wells Fargo & Company initiated coverage on shares of NewJersey Resources in a research note on Tuesday, May 12th. They set an “overweight” rating and a $63.00 target price on the stock. Wall Street Zen raised shares of NewJersey Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NewJersey Resources in a research note on Wednesday, May 13th. Finally, Argus set a $63.00 target price on shares of NewJersey Resources in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $58.17.

NewJersey Resources Stock Performance

Shares of NewJersey Resources stock opened at $56.79 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. NewJersey Resources Corporation has a twelve month low of $43.46 and a twelve month high of $58.57. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 16.85 and a beta of 0.51. The company’s fifty day moving average is $55.88 and its 200 day moving average is $51.50.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, topping 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 company had revenue of $939.40 million for the quarter, compared to analysts’ expectations of $849.95 million. During the same quarter in the previous year, the firm posted $1.78 earnings per share. NewJersey Resources’s revenue for the quarter was up 2.9% on a year-over-year basis. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Sell-side analysts forecast that NewJersey Resources Corporation will post 3.5 EPS for the current year.

NewJersey Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.90 annualized dividend and a dividend yield of 3.3%. NewJersey Resources’s payout ratio is currently 56.38%.

Insider Buying and Selling

In related news, CFO Roberto Bel sold 6,105 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $55.10, for a total value of $336,385.50. Following the sale, the chief financial officer owned 19,780 shares of the company’s stock, valued at $1,089,878. The trade was a 23.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard Reich sold 5,449 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $52.99, for a total transaction of $288,742.51. Following the completion of the transaction, the senior vice president owned 26,975 shares in the company, valued at approximately $1,429,405.25. The trade was a 16.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,704 shares of company stock valued at $1,307,389 over the last quarter. 0.70% of the stock is currently 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.