State Street Corp raised its stake in National Fuel Gas Company (NYSE:NFG) by 11.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,740,111 shares of the oil and gas producer’s stock after buying an additional 575,876 shares during the period. State Street Corp owned about 6.72% of National Fuel Gas Company worth $342,227,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp boosted its stake in shares of National Fuel Gas Company by 87.3% in the first quarter. Fifth Third Bancorp now owns 2,841 shares of the oil and gas producer’s stock worth $169,000 after buying an additional 1,324 shares during the period. Karpas Strategies LLC bought a new position in National Fuel Gas Company during the first quarter worth about $203,000. Pennsylvania Trust Co bought a new position in National Fuel Gas Company during the first quarter worth about $205,000. IFC Holdings Incorporated FL bought a new position in National Fuel Gas Company during the first quarter worth about $205,000. Finally, Rafferty Asset Management LLC bought a new position in National Fuel Gas Company during the fourth quarter worth about $207,000. 68.93% of the stock is currently owned by institutional investors.
National Fuel Gas Company (NFG) traded up 0.78% during midday trading on Friday, reaching $55.84. 419,413 shares of the company’s stock traded hands. The firm’s 50-day moving average is $56.71 and its 200 day moving average is $57.59. National Fuel Gas Company has a 52-week low of $50.61 and a 52-week high of $61.25. The firm has a market cap of $4.77 billion, a PE ratio of 21.38 and a beta of 0.97.
National Fuel Gas Company (NYSE:NFG) last issued its earnings results on Thursday, May 4th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by $0.01. The firm had revenue of $522.10 million during the quarter, compared to the consensus estimate of $514.43 million. National Fuel Gas Company had a return on equity of 18.67% and a net margin of 14.24%. The company’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 EPS. Equities research analysts expect that National Fuel Gas Company will post $3.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a dividend yield of 2.97%. This is a boost from National Fuel Gas Company’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Wednesday, June 28th. National Fuel Gas Company’s payout ratio is presently 63.36%.
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A number of equities analysts have recently issued reports on NFG shares. Jefferies Group LLC raised shares of National Fuel Gas Company from an “underperform” rating to a “hold” rating and set a $52.00 price objective on the stock in a research report on Wednesday, April 19th. TheStreet raised shares of National Fuel Gas Company from a “c+” rating to a “b” rating in a research report on Friday, June 16th. Scotiabank set a $58.00 target price on shares of National Fuel Gas Company and gave the stock a “hold” rating in a report on Monday, April 10th. BidaskClub upgraded shares of National Fuel Gas Company from a “hold” rating to a “buy” rating in a report on Monday, June 19th. Finally, ValuEngine lowered shares of National Fuel Gas Company from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.00.
National Fuel Gas Company Company Profile
National Fuel Gas Company is a holding company. The Company is an energy company engaged principally in the production, gathering, transportation, distribution and marketing of natural gas. The Company operates in five business segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing.
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