Allspring Global Investments Holdings LLC Acquires 56,602 Shares of National Fuel Gas Company $NFG

Allspring Global Investments Holdings LLC raised its stake in National Fuel Gas Company (NYSE:NFG) by 17.9% during the first quarter, HoldingsChannel reports. The fund owned 372,355 shares of the oil and gas producer’s stock after buying an additional 56,602 shares during the period. Allspring Global Investments Holdings LLC’s holdings in National Fuel Gas were worth $34,581,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. raised its holdings in National Fuel Gas by 458.0% in the first quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 229 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of National Fuel Gas during the fourth quarter valued at approximately $29,000. HM Payson & Co. bought a new stake in shares of National Fuel Gas during the fourth quarter valued at approximately $29,000. Eastern Bank purchased a new position in National Fuel Gas in the 4th quarter worth approximately $42,000. Finally, SHP Wealth Management bought a new position in National Fuel Gas in the 4th quarter valued at approximately $44,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. KeyCorp began coverage on National Fuel Gas in a research note on Tuesday, April 7th. They issued an “overweight” rating and a $110.00 price target for the company. Weiss Ratings cut shares of National Fuel Gas from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.50.

National Fuel Gas Stock Down 0.0%

National Fuel Gas stock opened at $80.90 on Monday. National Fuel Gas Company has a one year low of $75.17 and a one year high of $97.06. The stock has a fifty day moving average of $78.73 and a 200 day moving average of $84.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.55 and a current ratio of 0.62. The stock has a market cap of $7.69 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 1.76 and a beta of 0.37.

National Fuel Gas (NYSE:NFG) last released its quarterly 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). National Fuel Gas had a net margin of 27.48% and a return on equity of 20.62%. The firm had revenue of $858.37 million for the quarter, compared to the consensus estimate of $856.57 million. During the same quarter in the prior year, the firm earned $2.39 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, sell-side analysts predict that National Fuel Gas Company will post 7.66 EPS 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. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from National Fuel Gas’s previous quarterly dividend of $0.54. This represents a $2.22 dividend on an annualized basis and a dividend yield of 2.7%. National Fuel Gas’s payout ratio is 30.04%.

National Fuel Gas 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.