Paloma Partners Management Co lowered its position in shares of National Fuel Gas Company (NYSE:NFG) by 81.5% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,776 shares of the oil and gas producer’s stock after selling 21,024 shares during the period. Paloma Partners Management Co’s holdings in National Fuel Gas were worth $285,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in NFG. BlackRock Inc. boosted its stake in National Fuel Gas by 4,550.5% in the first quarter. BlackRock Inc. now owns 7,105,090 shares of the oil and gas producer’s stock worth $423,608,000 after buying an additional 6,952,310 shares during the last quarter. American Century Companies Inc. boosted its stake in National Fuel Gas by 487.6% in the first quarter. American Century Companies Inc. now owns 1,000,873 shares of the oil and gas producer’s stock worth $59,672,000 after buying an additional 830,547 shares during the last quarter. Vanguard Group Inc. boosted its stake in National Fuel Gas by 10.2% in the first quarter. Vanguard Group Inc. now owns 8,005,822 shares of the oil and gas producer’s stock worth $477,307,000 after buying an additional 742,945 shares during the last quarter. Norges Bank purchased a new stake in National Fuel Gas during the fourth quarter worth about $34,198,000. Finally, State Street Corp boosted its stake in National Fuel Gas by 11.2% in the first quarter. State Street Corp now owns 5,740,111 shares of the oil and gas producer’s stock worth $342,227,000 after buying an additional 575,876 shares during the last quarter. 69.02% of the stock is owned by hedge funds and other institutional investors.
Shares of National Fuel Gas Company (NYSE:NFG) opened at 58.62 on Thursday. The firm has a 50 day moving average price of $57.42 and a 200-day moving average price of $57.63. National Fuel Gas Company has a 12 month low of $50.61 and a 12 month high of $61.25. The firm has a market cap of $5.01 billion, a PE ratio of 22.44 and a beta of 0.97.
National Fuel Gas (NYSE:NFG) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.69 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.69. National Fuel Gas had a net margin of 17.38% and a return on equity of 18.31%. The company had revenue of $348.37 million during the quarter, compared to the consensus estimate of $373.86 million. During the same period in the prior year, the business posted $0.68 EPS. On average, analysts predict that National Fuel Gas Company will post $3.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 2.83%. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, June 28th. National Fuel Gas’s dividend payout ratio is currently 51.71%.
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NFG has been the subject of a number of research reports. Jefferies Group LLC raised National Fuel Gas from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research report on Wednesday, April 19th. BidaskClub raised National Fuel Gas from a “hold” rating to a “buy” rating in a research report on Monday, June 19th. TheStreet raised National Fuel Gas from a “c+” rating to a “b” rating in a research report on Friday, June 16th. ValuEngine cut National Fuel Gas from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Scotiabank set a $58.00 price objective on National Fuel Gas and gave the company a “hold” rating in a research report on Saturday, July 1st. Seven investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $59.00.
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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