Brown Advisory Inc. acquired a new position in National Fuel Gas Co. (NYSE:NFG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,547 shares of the company’s stock, valued at approximately $259,000.
Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position 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 during the period. State Street Corp raised its stake in National Fuel Gas by 11.7% in the first quarter. State Street Corp now owns 6,439,757 shares of the company’s stock worth $322,305,000 after buying an additional 673,010 shares in the last quarter. Barclays PLC raised 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. Emerald Acquisition Ltd. acquired a new stake in National Fuel Gas during the second quarter worth $3,474,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in National Fuel Gas by 78.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 135,032 shares of the company’s stock worth $7,681,000 after buying an additional 59,570 shares in the last quarter. 62.45% of the stock is currently owned by institutional investors.
National Fuel Gas Co. (NYSE:NFG) traded down 1.26% during midday trading on Thursday, reaching $53.42. 46,045 shares of the company’s stock traded hands. National Fuel Gas Co. has a 52-week low of $37.03 and a 52-week high of $59.62. The firm’s market cap is $4.54 billion. The firm’s 50-day moving average is $56.51 and its 200 day moving average is $54.95.
National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Friday, August 5th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. National Fuel Gas had a negative net margin of 35.33% and a positive return on equity of 13.87%. The firm had revenue of $335.60 million for the quarter, compared to analysts’ expectations of $384.26 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts expect that National Fuel Gas Co. will post $2.96 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Wednesday, September 28th. National Fuel Gas’s payout ratio is -26.60%.
A number of equities research analysts recently weighed in on the stock. Argus restated a “hold” rating on shares of National Fuel Gas in a report on Thursday, June 9th. Jefferies Group upped their target price on shares of National Fuel Gas from $59.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, July 25th. Zacks Investment Research upgraded shares of National Fuel Gas from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Tuesday, July 5th. Finally, Barclays PLC upped their target price on shares of National Fuel Gas from $47.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Eight investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $60.67.
In other news, Director David F. Smith sold 48,983 shares of National Fuel Gas stock in a transaction dated Friday, September 2nd. The shares were 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 approximately $12,149,676.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip C. Ackerman sold 27,838 shares of National Fuel Gas stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $55.76, for a total transaction of $1,552,246.88. Following the sale, the director now directly owns 583,694 shares in the company, valued at approximately $32,546,777.44. The disclosure for this sale can be found here. 3.25% of the stock is currently owned by company insiders.
About National Fuel Gas
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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