National Fuel Gas Co. (NFG) Stock Rating Reaffirmed by Argus
National Fuel Gas Co. (NYSE:NFG)‘s stock had its “hold” rating reiterated by research analysts at Argus in a research report issued to clients and investors on Thursday.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of National Fuel Gas from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Tuesday, July 5th. Jefferies Group raised shares of National Fuel Gas from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Barclays PLC boosted 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $60.67.
National Fuel Gas (NYSE:NFG) traded up 1.84% on Thursday, reaching $53.72. 801,596 shares of the company traded hands. The stock’s market capitalization is $4.57 billion. National Fuel Gas has a one year low of $37.03 and a one year high of $59.62. The firm has a 50 day moving average of $55.71 and a 200-day moving average of $54.99.
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National Fuel Gas (NYSE:NFG) last posted its quarterly earnings data on Friday, August 5th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 business earned $335.60 million during the quarter, compared to analysts’ expectations of $384.26 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. National Fuel Gas’s revenue was down 1.2% compared to the same quarter last year. On average, analysts anticipate that National Fuel Gas will post $2.96 EPS for the current year.
The business also recently announced 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. This represents a $1.62 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, September 28th. National Fuel Gas’s payout ratio is presently -26.60%.
In related news, Director Philip C. Ackerman sold 105,929 shares of the company’s stock in a transaction that occurred 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 $26,320,073.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David F. Smith sold 48,983 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $56.64, for a total value of $2,774,397.12. Following the completion of the sale, the director now owns 214,507 shares in the company, valued at $12,149,676.48. The disclosure for this sale can be found here. 3.25% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. bought a new stake in shares of National Fuel Gas during the first quarter valued at approximately $130,000. Glenmede Trust Co. NA boosted its position in National Fuel Gas by 4.5% in the second quarter. Glenmede Trust Co. NA now owns 2,788 shares of the company’s stock worth $157,000 after buying an additional 120 shares during the last quarter. Canandaigua National Bank & Trust Co. acquired a new position in National Fuel Gas during the second quarter worth about $205,000. Peapack Gladstone Financial Corp acquired a new position in National Fuel Gas during the second quarter worth about $213,000. Finally, Oakbrook Investments LLC acquired a new position in National Fuel Gas during the second quarter worth about $244,000. Institutional investors and hedge funds own 62.45% of the company’s stock.
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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