National Fuel Gas Co. (NFG) Shares Bought by Baird Financial Group Inc.
Baird Financial Group Inc. increased its position in National Fuel Gas Co. (NYSE:NFG) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,808 shares of the oil and gas producer’s stock after purchasing an additional 3,986 shares during the period. Baird Financial Group Inc. owned 0.08% of National Fuel Gas worth $3,691,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of NFG. Copper Rock Capital Partners LLC purchased a new stake in National Fuel Gas in the third quarter worth $23,971,000. Victory Capital Management Inc. purchased a new stake in National Fuel Gas in the third quarter worth $19,197,000. Bank of America Corp DE grew its stake in National Fuel Gas by 76.9% in the second quarter. Bank of America Corp DE now owns 666,903 shares of the oil and gas producer’s stock worth $35,319,000 after purchasing an additional 289,998 shares during the period. Renaissance Technologies LLC grew its stake in National Fuel Gas by 262.0% in the second quarter. Renaissance Technologies LLC now owns 388,100 shares of the oil and gas producer’s stock worth $20,554,000 after purchasing an additional 280,900 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in National Fuel Gas by 2,198.1% in the second quarter. Canada Pension Plan Investment Board now owns 267,542 shares of the oil and gas producer’s stock worth $14,169,000 after purchasing an additional 255,900 shares during the period. 71.89% of the stock is currently owned by institutional investors.
NFG has been the topic of several recent research reports. ValuEngine cut National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Zacks Investment Research raised National Fuel Gas from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Friday, August 31st. Finally, TheStreet cut National Fuel Gas from a “b” rating to a “c+” rating in a research note on Friday, November 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. National Fuel Gas has an average rating of “Hold” and a consensus price target of $61.75.
National Fuel Gas (NYSE:NFG) last released its earnings results on Thursday, November 1st. The oil and gas producer reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). National Fuel Gas had a return on equity of 15.11% and a net margin of 24.58%. The company had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $316.56 million. During the same period in the prior year, the company posted $0.53 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, equities analysts anticipate that National Fuel Gas Co. will post 3.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a $0.425 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.10%. National Fuel Gas’s dividend payout ratio is currently 50.90%.
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National Fuel Gas Company Profile
National Fuel Gas Company operates as a diversified energy company. The company operates in five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. The Exploration and Production segment explores for, develops, and produces natural gas and oil reserves in California in the Appalachian region of the United States.
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