Allspring Global Investments Holdings LLC Acquires 176,290 Shares of National Fuel Gas Company (NYSE:NFG)

Allspring Global Investments Holdings LLC raised its holdings in National Fuel Gas Company (NYSE:NFG - Free Report) by 62.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 458,112 shares of the oil and gas producer's stock after acquiring an additional 176,290 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.51% of National Fuel Gas worth $36,557,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Proficio Capital Partners LLC bought a new stake in shares of National Fuel Gas during the 4th quarter worth $862,000. QRG Capital Management Inc. raised its position in National Fuel Gas by 4.6% during the fourth quarter. QRG Capital Management Inc. now owns 9,300 shares of the oil and gas producer's stock valued at $564,000 after purchasing an additional 405 shares in the last quarter. Private Trust Co. NA lifted its stake in National Fuel Gas by 102.5% during the fourth quarter. Private Trust Co. NA now owns 2,147 shares of the oil and gas producer's stock worth $130,000 after purchasing an additional 1,087 shares during the last quarter. Flputnam Investment Management Co. boosted its holdings in shares of National Fuel Gas by 1.0% in the 4th quarter. Flputnam Investment Management Co. now owns 34,217 shares of the oil and gas producer's stock worth $2,076,000 after purchasing an additional 350 shares in the last quarter. Finally, Metis Global Partners LLC bought a new position in shares of National Fuel Gas during the 4th quarter valued at about $232,000. Institutional investors own 73.96% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Bank of America boosted their target price on National Fuel Gas from $77.00 to $85.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of National Fuel Gas from a "hold" rating to a "buy" rating in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, National Fuel Gas presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.33.

National Fuel Gas Trading Up 0.3%

Shares of NYSE NFG traded up $0.28 during midday trading on Friday, reaching $84.21. The company had a trading volume of 451,231 shares, compared to its average volume of 568,627. The stock has a market cap of $7.61 billion, a PE ratio of 195.84, a price-to-earnings-growth ratio of 0.54 and a beta of 0.62. National Fuel Gas Company has a one year low of $54.05 and a one year high of $86.45. The firm's fifty day moving average price is $82.45 and its 200-day moving average price is $75.28. The company has a quick ratio of 0.43, a current ratio of 0.47 and a debt-to-equity ratio of 0.86.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.21. National Fuel Gas had a return on equity of 18.55% and a net margin of 1.91%. The business had revenue of $729.95 million for the quarter, compared to analysts' expectations of $770.81 million. During the same period in the previous year, the firm earned $1.79 EPS. The business's quarterly revenue was up 15.9% on a year-over-year basis. On average, equities research analysts anticipate that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.535 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.14 annualized dividend and a yield of 2.54%. This is a boost from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's dividend payout ratio is presently 497.67%.

About National Fuel Gas

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.