BlackRock Advisors LLC boosted its stake in shares of National Fuel Gas Co. (NYSE:NFG) by 12.6% during the second quarter, Holdings Channel reports. The institutional investor owned 126,117 shares of the company’s stock after buying an additional 14,078 shares during the period. BlackRock Advisors LLC owned 0.15% of National Fuel Gas worth $7,174,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Group LTD increased its stake in National Fuel Gas by 13.5% in the first quarter. BlackRock Group LTD now owns 69,744 shares of the company’s stock worth $3,491,000 after buying an additional 8,292 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in National Fuel Gas during the second quarter worth $244,000. JPMorgan Chase & Co. increased its stake in National Fuel Gas by 25.0% in the first quarter. JPMorgan Chase & Co. now owns 3,535,229 shares of the company’s stock worth $176,938,000 after buying an additional 706,467 shares in the last quarter. Nordea Investment Management AB purchased a new stake in National Fuel Gas during the second quarter worth $528,000. Finally, Barclays PLC increased its stake in National Fuel Gas by 3,041.7% in the first quarter. Barclays PLC now owns 81,874 shares of the company’s stock worth $4,094,000 after buying an additional 79,268 shares in the last quarter. 62.45% of the stock is owned by institutional investors and hedge funds.
National Fuel Gas Co. (NYSE:NFG) opened at 52.75 on Thursday. The company’s market cap is $4.48 billion. National Fuel Gas Co. has a 52-week low of $37.03 and a 52-week high of $59.62. The firm has a 50-day moving average price of $55.83 and a 200-day moving average price of $55.00.
National Fuel Gas (NYSE:NFG) last released its quarterly earnings results on Friday, August 5th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. National Fuel Gas had a positive return on equity of 13.87% and a negative net margin of 35.33%. The company had revenue of $335.60 million for the quarter, compared to analyst estimates of $384.26 million. During the same period in the previous year, the company posted $0.55 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, analysts forecast that National Fuel Gas Co. will post $2.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, September 28th. National Fuel Gas’s dividend payout ratio is currently -26.60%.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised National Fuel Gas from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Tuesday, July 5th. Barclays PLC lifted their target price on National Fuel Gas from $47.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Finally, Jefferies Group lifted their target price on National Fuel Gas from $59.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, July 25th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $60.67.
In other news, Director David F. Smith sold 48,983 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $56.64, for a total transaction of $2,774,397.12. Following the sale, the director now owns 214,507 shares of the company’s stock, valued at $12,149,676.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip C. Ackerman sold 105,929 shares of the company’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $55.09, for a total value of $5,835,628.61. Following the sale, the director now directly owns 477,765 shares in the company, valued at approximately $26,320,073.85. The disclosure for this sale can be found here. Insiders own 3.25% of the company’s stock.
National Fuel Gas Company Profile
National Fuel Gas Company is a holding company. The Company is an energy company engaged in the production, gathering, transportation, distribution and marketing of natural gas. The Company operates through five segments: Exploration and Production, including operations carried out through its subsidiary, Seneca Resources Corporation; Pipeline and Storage, including operations carried out through its subsidiaries, National Fuel Gas Supply Corporation and Empire Pipeline, Inc; Gathering, including operations carried out through subsidiaries of National Fuel Gas Midstream Corporation; Utility, including operations are carried out by through its subsidiary, Distribution Corporation, and Energy Marketing, including operations carried out through its subsidiary, National Fuel Resources, Inc The Company operates an integrated business, with assets centered in western New York and Pennsylvania.
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