National Fuel Gas Company (NFG) Stake Raised by State Street Corp

State Street Corp raised its position in National Fuel Gas Company (NYSE:NFG) by 11.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 approximately 6.72% of National Fuel Gas Company worth $342,227,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NFG. Vanguard Group Inc. raised its position in National Fuel Gas Company by 10.2% in the first quarter. Vanguard Group Inc. now owns 8,005,822 shares of the oil and gas producer’s stock worth $477,307,000 after buying an additional 742,945 shares during the period. BlackRock Inc. raised its position in National Fuel Gas Company by 4,550.5% in the first quarter. BlackRock Inc. now owns 7,105,090 shares of the oil and gas producer’s stock worth $423,608,000 after buying an additional 6,952,310 shares during the period. JPMorgan Chase & Co. raised its position in National Fuel Gas Company by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 3,981,504 shares of the oil and gas producer’s stock worth $237,377,000 after buying an additional 19,337 shares during the period. Aristotle Capital Management LLC raised its position in National Fuel Gas Company by 5.6% in the fourth quarter. Aristotle Capital Management LLC now owns 3,054,075 shares of the oil and gas producer’s stock worth $172,983,000 after buying an additional 160,906 shares during the period. Finally, River Road Asset Management LLC raised its position in National Fuel Gas Company by 15.7% in the first quarter. River Road Asset Management LLC now owns 1,807,807 shares of the oil and gas producer’s stock worth $107,781,000 after buying an additional 245,705 shares during the period. 69.40% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for National Fuel Gas Company (NYSE:NFG)

National Fuel Gas Company (NFG) traded down 2.15% during midday trading on Monday, hitting $58.31. The company had a trading volume of 654,237 shares. The company has a 50 day moving average price of $56.35 and a 200 day moving average price of $57.60. National Fuel Gas Company has a 1-year low of $50.61 and a 1-year high of $61.25. The firm has a market capitalization of $4.98 billion, a P/E ratio of 22.32 and a beta of 1.00.

National Fuel Gas Company (NYSE:NFG) last announced its earnings results on Thursday, May 4th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by $0.01. The firm had revenue of $522.10 million during the quarter, compared to analysts’ expectations of $514.43 million. National Fuel Gas Company had a net margin of 14.24% and a return on equity of 18.67%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. Equities research analysts forecast that National Fuel Gas Company will post $3.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be given a $0.415 dividend. This is a positive change from National Fuel Gas Company’s previous quarterly dividend of $0.41. The ex-dividend date is Wednesday, June 28th. This represents a $1.66 dividend on an annualized basis and a yield of 2.85%. National Fuel Gas Company’s payout ratio is presently 61.83%.

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A number of equities analysts have recently weighed in on NFG shares. Jefferies Group LLC raised National Fuel Gas Company from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Wednesday, April 19th. BidaskClub raised National Fuel Gas Company from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Scotiabank set a $58.00 target price on National Fuel Gas Company and gave the stock a “hold” rating in a research report on Monday, April 10th. Finally, ValuEngine downgraded National Fuel Gas Company from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. National Fuel Gas Company currently has an average rating of “Hold” and an average price target of $59.00.

In other National Fuel Gas Company news, SVP Paula M. Ciprich sold 7,604 shares of the business’s stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $59.97, for a total value of $456,011.88. Following the sale, the senior vice president now owns 65,922 shares of the company’s stock, valued at $3,953,342.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.57% of the stock is owned by insiders.

About National Fuel Gas Company

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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