SCHEDULE 13G/A: BlackRock Maintains Significant Stake in New Jersey Resources Corp, Holding 15.3% of Common Stock

BlackRock, Inc. has filed an Amendment No. 4 to Schedule 13G, reaffirming its substantial beneficial ownership of 15.3% in New Jersey Resources Corp as of March 31, 2025.

Summary

• BlackRock, Inc. reported beneficial ownership of 15,358,414 shares of New Jersey Resources Corp common stock.
• This ownership represents 15.3% of the total outstanding common stock of New Jersey Resources Corp.
• BlackRock holds sole voting power over 15,146,847 shares and sole dispositive power over 15,358,414 shares.
• No shared voting or dispositive power was reported.
• The filing is an Amendment No. 4 to Schedule 13G, indicating a routine update to a previously disclosed significant ownership position.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• iShares Core S&P Small-Cap ETF, a BlackRock entity, is noted to have an interest of more than 5% of the total outstanding common stock of New Jersey Resources Corp.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While a 13G is a routine disclosure, BlackRock's continued significant stake (15.3%) in New Jersey Resources Corp implies a degree of confidence from a major institutional investor. There are no negative implications or risks directly stated within the filing itself regarding the issuer.

Positives

• BlackRock's continued significant stake (15.3%) in New Jersey Resources Corp suggests ongoing institutional confidence in the company.
• The filing indicates that BlackRock's holdings are for investment purposes in the ordinary course of business, not for control-related activities, which can be viewed as a stable, long-term investment.

Risks

• The document does not detail specific risks related to New Jersey Resources Corp's operations or financial health, as it is a disclosure of beneficial ownership by an institutional investor.

Future Outlook

This Schedule 13G filing does not contain forward-looking statements or guidance regarding New Jersey Resources Corp's future performance or BlackRock's investment strategy beyond the certification that the shares are held in the ordinary course of business.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11." (Certification by BlackRock, Inc.)

Industry Context

This filing reflects a routine disclosure of a significant passive investment by a major asset manager, BlackRock, in a utility company, New Jersey Resources Corp. Such large institutional holdings are common in stable sectors like utilities, indicating long-term investment interest rather than active management or control intent.

Corporate Governance

Stakeholder Impact

• Shareholders: The continued significant ownership by BlackRock may provide a sense of stability and institutional backing for New Jersey Resources Corp's stock.
• Investment Professionals: Provides updated information on a major institutional investor's stake, which can be factored into investment models and analyses.

Key Dates

Keywords

BlackRock, New Jersey Resources Corp, NJR, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Equity Stake, Investment Management, Utility Sector