SCHEDULE: State Street Reports 4.9% Stake in NJ Resources

State Street Corporation has disclosed a 4.9% beneficial ownership stake in New Jersey Resources Corp common stock as of September 30, 2025.

Summary

• State Street Corporation reported beneficial ownership of 4,930,980 shares of New Jersey Resources Corp common stock.
• This ownership represents 4.9% of the total class of securities.
• The shares are held by State Street and its various investment advisory subsidiaries, including SSGA Funds Management, Inc. and State Street Global Advisors entities.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of New Jersey Resources Corp.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing is a routine disclosure of a significant institutional stake, which can be seen as a vote of confidence, but provides no new operational or financial information about the issuer.

Positives

• A major institutional investor, State Street Corporation, holds a significant stake, which can be interpreted as a vote of confidence in New Jersey Resources Corp.
• The holding is for investment purposes in the ordinary course of business, not for control, suggesting a stable, passive investment.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding New Jersey Resources Corp's future outlook.

Management Comments

• State Street Corporation's Senior Vice President, Chief Accounting Officer, Elizabeth Schaefer, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

Schedule 13G filings are routine disclosures by institutional investors holding significant stakes in public companies. State Street Corporation, as a major financial services and asset management firm, frequently files such reports as part of its passive investment and index-tracking activities across its various funds and advisory mandates. This filing reflects a standard disclosure of a substantial, but non-controlling, position in a utility-sector company.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure for institutional investors and does not provide operational or financial results for comparison to industry benchmarks or specific comparable companies.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder, potentially reinforcing confidence in the company's ownership structure.
• Management: Awareness of a large, passive institutional investor's stake in the company.

Key Dates

Recommendation

This Schedule 13G filing by State Street Corporation indicates a significant, but passive, beneficial ownership stake in New Jersey Resources Corp. As a routine disclosure by an institutional investor holding shares in the ordinary course of business and not seeking control, it does not provide new operational or financial data to warrant a change in investment thesis. The presence of a major institutional holder can be seen as a baseline level of confidence, suggesting a 'hold' recommendation based solely on this disclosure.

Keywords

State Street Corporation, New Jersey Resources Corp, NJR, Schedule 13G, beneficial ownership, institutional investor, common stock, equity stake, SEC filing