National Fuel Gas Co. (NYSE:NFG)‘s stock had its “hold” rating reiterated by equities researchers at Argus in a note issued to investors on Thursday.
NFG has been the topic of several other research reports. Jefferies Group boosted their price target on National Fuel Gas from $59.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, July 25th. Zacks Investment Research upgraded 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 Tuesday, July 5th. Finally, Barclays PLC upped their target price on National Fuel Gas from $47.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 10th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $60.67.
National Fuel Gas (NYSE:NFG) traded up 1.84% during trading on Thursday, reaching $53.72. The company’s stock had a trading volume of 801,596 shares. The stock has a 50-day moving average of $55.71 and a 200 day moving average of $54.99. National Fuel Gas has a one year low of $37.03 and a one year high of $59.62. The firm’s market capitalization is $4.57 billion.
National Fuel Gas (NYSE:NFG) last posted 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. The business had revenue of $335.60 million for the quarter, compared to the consensus estimate of $384.26 million. National Fuel Gas had a positive return on equity of 13.87% and a negative net margin of 35.33%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 EPS. On average, equities research analysts predict that National Fuel Gas will post $2.96 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.62 dividend on an annualized basis and a yield of 3.02%. National Fuel Gas’s payout ratio is -26.60%.
In related news, Director David F. Smith sold 48,983 shares of the company’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $56.64, for a total value of $2,774,397.12. Following the completion of the transaction, the director now owns 214,507 shares of the company’s stock, valued at approximately $12,149,676.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip C. Ackerman sold 105,929 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 477,765 shares of the company’s stock, valued at approximately $26,320,073.85. The disclosure for this sale can be found here. 3.25% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Zebra Capital Management LLC boosted its position in National Fuel Gas by 30.5% in the first quarter. Zebra Capital Management LLC now owns 30,436 shares of the company’s stock worth $1,523,000 after buying an additional 7,110 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of National Fuel Gas by 15.7% in the first quarter. Canada Pension Plan Investment Board now owns 17,710 shares of the company’s stock worth $886,000 after buying an additional 2,400 shares during the last quarter. Huntington Asset Advisors Inc. purchased a new position in shares of National Fuel Gas during the first quarter worth approximately $325,000. M&T Bank Corp boosted its position in shares of National Fuel Gas by 1.9% in the first quarter. M&T Bank Corp now owns 25,910 shares of the company’s stock worth $1,297,000 after buying an additional 491 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of National Fuel Gas during the first quarter worth approximately $130,000. 62.45% of the stock is owned by institutional investors.
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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