Fifth Third Bancorp Grows Position in NewJersey Resources Corporation $NJR

Fifth Third Bancorp grew its position in shares of NewJersey Resources Corporation (NYSE:NJR) by 2,097.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,806 shares of the utilities provider’s stock after acquiring an additional 27,495 shares during the quarter. Fifth Third Bancorp’s holdings in NewJersey Resources were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of NewJersey Resources by 29.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 46,535 shares of the utilities provider’s stock valued at $2,146,000 after purchasing an additional 10,666 shares in the last quarter. SG Americas Securities LLC increased its position in shares of NewJersey Resources by 1,989.9% during the 4th quarter. SG Americas Securities LLC now owns 166,003 shares of the utilities provider’s stock worth $7,656,000 after purchasing an additional 158,060 shares in the last quarter. World Investment Advisors bought a new position in NewJersey Resources during the 4th quarter valued at about $1,924,000. Norges Bank acquired a new position in NewJersey Resources in the fourth quarter valued at about $60,075,000. Finally, Louisiana State Employees Retirement System bought a new stake in NewJersey Resources during the first quarter worth about $1,604,000. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at NewJersey Resources

In related news, Director Jane M. Kenny sold 8,000 shares of NewJersey Resources stock in a transaction on Friday, May 8th. The stock was sold at an average price of $56.10, for a total transaction of $448,800.00. Following the completion of the sale, the director directly owned 21,998 shares of the company’s stock, valued at $1,234,087.80. The trade was a 26.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick J. Migliaccio sold 3,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $55.84, for a total value of $167,520.00. Following the completion of the transaction, the chief operating officer directly owned 35,202 shares in the company, valued at $1,965,679.68. The trade was a 7.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,150 shares of company stock worth $682,261 in the last three months. Insiders own 0.70% of the company’s stock.

NewJersey Resources Stock Performance

NewJersey Resources stock opened at $59.38 on Friday. The company has a market cap of $5.99 billion, a PE ratio of 17.62 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 1.24. NewJersey Resources Corporation has a 1 year low of $43.46 and a 1 year high of $60.69. The company’s 50-day moving average is $56.60 and its two-hundred day moving average is $54.37.

NewJersey Resources (NYSE:NJR) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. NewJersey Resources had a net margin of 15.67% and a return on equity of 14.58%. The business had revenue of $939.40 million during the quarter, compared to the consensus estimate of $849.95 million. During the same period in the previous year, the firm posted $1.78 earnings per share. NewJersey Resources’s revenue for the quarter 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. Equities analysts anticipate that NewJersey Resources Corporation will post 3.58 earnings per share for the current year.

Analysts Set New Price Targets

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

About NewJersey Resources

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.