National Fuel Gas Company (NFG) Stake Increased by State Street Corp
State Street Corp lifted its stake in shares of National Fuel Gas Company (NYSE:NFG) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,838,831 shares of the oil and gas producer’s stock after buying an additional 98,720 shares during the quarter. State Street Corp owned approximately 6.83% of National Fuel Gas worth $326,039,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its position in shares of National Fuel Gas by 17.5% during the second quarter. Canada Pension Plan Investment Board now owns 36,600 shares of the oil and gas producer’s stock worth $2,044,000 after buying an additional 5,448 shares in the last quarter. Federated Investors Inc. PA grew its position in shares of National Fuel Gas by 36.7% during the second quarter. Federated Investors Inc. PA now owns 70,927 shares of the oil and gas producer’s stock worth $3,961,000 after buying an additional 19,037 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in National Fuel Gas by 5.6% during the second quarter. JPMorgan Chase & Co. now owns 4,204,469 shares of the oil and gas producer’s stock worth $234,778,000 after purchasing an additional 222,965 shares during the last quarter. ProShare Advisors LLC lifted its stake in National Fuel Gas by 8.4% during the second quarter. ProShare Advisors LLC now owns 179,128 shares of the oil and gas producer’s stock worth $10,003,000 after purchasing an additional 13,921 shares during the last quarter. Finally, Cipher Capital LP bought a new position in National Fuel Gas during the second quarter worth $1,455,000. 71.78% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on NFG shares. Jefferies Group LLC restated a “hold” rating and set a $54.00 price objective (up from $52.00) on shares of National Fuel Gas in a research note on Friday, September 1st. BidaskClub upgraded National Fuel Gas from a “hold” rating to a “buy” rating in a research note on Monday, June 19th. Scotiabank set a $60.00 price objective on National Fuel Gas and gave the stock a “hold” rating in a research note on Tuesday, August 22nd. Finally, Sidoti started coverage on National Fuel Gas in a research note on Thursday. They set a “neutral” rating and a $65.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $59.67.
National Fuel Gas Company (NYSE NFG) opened at 57.29 on Friday. The company has a market capitalization of $4.90 billion, a PE ratio of 17.84 and a beta of 0.95. National Fuel Gas Company has a 52 week low of $50.61 and a 52 week high of $61.25. The company’s 50-day moving average price is $57.68 and its 200 day moving average price is $57.16.
National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. The business had revenue of $348.37 million for the quarter, compared to analysts’ expectations of $373.86 million. National Fuel Gas had a return on equity of 18.31% and a net margin of 17.38%. During the same period in the previous year, the business posted $0.68 earnings per share. On average, equities research analysts anticipate that National Fuel Gas Company will post $3.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were given a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date was Thursday, September 28th. National Fuel Gas’s dividend payout ratio is presently 51.71%.
About National Fuel Gas
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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