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

PNC Financial Services Group Inc. boosted its position in NewJersey Resources Corporation (NYSE:NJR) by 29.7% during the 4th quarter, Holdings Channel.com reports. 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 quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in NewJersey Resources by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,566,321 shares of the utilities provider’s stock valued at $171,717,000 after buying an additional 130,831 shares during the period. Northern Trust Corp lifted its holdings in NewJersey Resources by 1.1% in the third quarter. Northern Trust Corp now owns 1,335,344 shares of the utilities provider’s stock valued at $64,297,000 after buying an additional 14,512 shares during the period. First Trust Advisors LP lifted its holdings in NewJersey Resources by 10.7% in the third quarter. First Trust Advisors LP now owns 1,158,719 shares of the utilities provider’s stock valued at $55,792,000 after buying an additional 111,696 shares during the period. Energy Income Partners LLC lifted its holdings in NewJersey Resources by 19.1% in the third quarter. Energy Income Partners LLC now owns 951,527 shares of the utilities provider’s stock valued at $45,816,000 after buying an additional 152,866 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in NewJersey Resources by 10.3% in the third quarter. ProShare Advisors LLC now owns 916,606 shares of the utilities provider’s stock valued at $44,135,000 after buying an additional 85,297 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In other NewJersey Resources news, CFO Roberto Bel sold 6,105 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $55.10, for a total value of $336,385.50. Following the completion of the sale, the chief financial officer directly owned 19,780 shares of the company’s stock, valued at approximately $1,089,878. This represents a 23.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard Reich sold 5,449 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $52.99, for a total transaction of $288,742.51. Following the completion of the sale, the senior vice president directly owned 26,975 shares of the company’s stock, valued at $1,429,405.25. The trade was a 16.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,704 shares of company stock worth $1,307,389 in the last ninety days. 0.70% of the stock is owned by corporate insiders.

NewJersey Resources Trading Down 1.3%

NJR opened at $56.79 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.80. NewJersey Resources Corporation has a fifty-two week low of $43.46 and a fifty-two week high of $58.57. The firm has a market capitalization of $5.73 billion, a PE ratio of 16.85 and a beta of 0.51. The company’s 50-day moving average is $55.88 and its 200 day moving average is $51.50.

NewJersey Resources (NYSE:NJR) last posted its 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 company 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 posted $1.78 EPS. The firm’s 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. As a group, research analysts predict that NewJersey Resources Corporation will post 3.5 earnings per share for the current fiscal year.

NewJersey Resources Announces Dividend

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

Wall Street Analyst Weigh In

NJR has been the topic of several research reports. Mizuho upped their price objective on shares of NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Raymond James Financial reiterated an “outperform” rating on shares of NewJersey Resources in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of NewJersey Resources in a report on Wednesday, May 13th. Wells Fargo & Company initiated coverage on shares of NewJersey Resources in a report on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $58.17.

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.