National Fuel Gas Company $NFG Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its holdings in National Fuel Gas Company (NYSE:NFG) by 1.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,331,863 shares of the oil and gas producer’s stock after selling 23,419 shares during the quarter. National Fuel Gas comprises 1.5% of Gabelli Funds LLC’s portfolio, making the stock its 3rd biggest holding. Gabelli Funds LLC’s holdings in National Fuel Gas were worth $219,102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NFG. Price T Rowe Associates Inc. MD grew its holdings in National Fuel Gas by 653.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,582,782 shares of the oil and gas producer’s stock worth $126,718,000 after acquiring an additional 1,372,742 shares during the last quarter. Norges Bank bought a new position in shares of National Fuel Gas in the fourth quarter worth about $92,415,000. AQR Capital Management LLC raised its stake in shares of National Fuel Gas by 103.4% in the third quarter. AQR Capital Management LLC now owns 2,138,153 shares of the oil and gas producer’s stock worth $197,501,000 after acquiring an additional 1,087,067 shares during the last quarter. Yaupon Capital Management LP lifted its position in shares of National Fuel Gas by 521.0% during the fourth quarter. Yaupon Capital Management LP now owns 1,105,979 shares of the oil and gas producer’s stock worth $88,545,000 after purchasing an additional 927,873 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of National Fuel Gas during the first quarter worth approximately $63,863,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

Shares of NYSE:NFG opened at $82.43 on Friday. The stock has a market capitalization of $7.83 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.79 and a beta of 0.37. National Fuel Gas Company has a 1-year low of $75.17 and a 1-year high of $97.06. The company has a current ratio of 0.62, a quick ratio of 0.55 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $78.85 and a two-hundred day moving average price of $84.44.

National Fuel Gas (NYSE:NFG) last released its earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.14). The business had revenue of $858.37 million for the quarter, compared to analyst estimates of $856.57 million. National Fuel Gas had a net margin of 27.48% and a return on equity of 20.62%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.39 earnings per share. Equities analysts predict that National Fuel Gas Company will post 7.66 earnings per share for the current year.

National Fuel Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.555 dividend. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.54. This represents a $2.22 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, June 30th. National Fuel Gas’s dividend payout ratio (DPR) is currently 30.04%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NFG. Weiss Ratings lowered shares of National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. KeyCorp initiated coverage on National Fuel Gas in a report on Tuesday, April 7th. They set an “overweight” rating and a $110.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.50.

National Fuel Gas Company Profile

National Fuel Gas Company (NYSE: NFG) is a diversified energy company engaged primarily in the production, gathering, transmission, distribution and marketing of natural gas. The company operates through four principal segments: Exploration & Production, Pipeline & Storage, Utilities, and Energy Marketing. Its integrated asset base spans upstream development in the Appalachian Basin, regional pipeline networks, underground storage facilities, and regulated utility distribution systems.

In its Exploration & Production segment, National Fuel Gas focuses on developing natural gas reserves in the Marcellus and Utica shales, leveraging modern drilling and completion techniques.