National Fuel Gas Company $NFG Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in National Fuel Gas Company (NYSE:NFG) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,816,217 shares of the oil and gas producer’s stock after purchasing an additional 121,099 shares during the period. Geode Capital Management LLC owned approximately 1.91% of National Fuel Gas worth $145,446,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in National Fuel Gas in the third quarter worth approximately $5,228,000. Citigroup Inc. lifted its position in National Fuel Gas by 51.7% in the third quarter. Citigroup Inc. now owns 64,112 shares of the oil and gas producer’s stock worth $5,922,000 after purchasing an additional 21,861 shares during the period. Kayne Anderson Capital Advisors LP lifted its position in National Fuel Gas by 158.7% in the third quarter. Kayne Anderson Capital Advisors LP now owns 95,206 shares of the oil and gas producer’s stock worth $8,794,000 after purchasing an additional 58,399 shares during the period. Gotham Asset Management LLC lifted its position in National Fuel Gas by 74.9% in the third quarter. Gotham Asset Management LLC now owns 521,928 shares of the oil and gas producer’s stock worth $48,210,000 after purchasing an additional 223,459 shares during the period. Finally, Cozad Asset Management Inc. lifted its position in National Fuel Gas by 39.0% in the third quarter. Cozad Asset Management Inc. now owns 100,255 shares of the oil and gas producer’s stock worth $9,261,000 after purchasing an additional 28,118 shares during the period. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NFG has been the subject of a number of research analyst reports. Weiss Ratings upgraded National Fuel Gas from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, May 22nd. Zacks Research upgraded National Fuel Gas from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, KeyCorp started coverage on National Fuel Gas in a research report on Tuesday, April 7th. They set an “overweight” rating and a $110.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

National Fuel Gas Price Performance

NFG opened at $77.28 on Friday. The stock has a fifty day moving average of $86.15 and a 200-day moving average of $85.20. The firm has a market capitalization of $7.34 billion, a P/E ratio of 10.46, a PEG ratio of 1.70 and a beta of 0.37. National Fuel Gas Company has a 12-month low of $75.85 and a 12-month high of $97.06. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.55.

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 during the quarter, compared to analysts’ expectations of $856.57 million. National Fuel Gas had a net margin of 27.48% and a return on equity of 20.62%. National Fuel Gas’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 earned $2.39 EPS. Equities analysts forecast that National Fuel Gas Company will post 7.59 EPS for the current fiscal year.

National Fuel Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.535 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.8%. National Fuel Gas’s dividend payout ratio is presently 28.96%.

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.