Corebridge Financial Inc. Sells 3,359 Shares of National Fuel Gas Company $NFG

Key Points

• Corebridge Financial Inc. sold 3,359 shares of National Fuel Gas Company, reducing its stake by 3.2% to 100,012 shares, worth approximately $7.92 million.
• Several hedge funds increased their positions in National Fuel Gas, with LSV Asset Management raising its holdings by 29.6% to over 2.15 million shares, while Invesco Ltd. boosted its stake by 93.7%.
• National Fuel Gas Company recently declared a quarterly dividend of $0.535, up from the previous dividend of $0.52, which represents an annualized yield of 2.5%.

Corebridge Financial Inc. lessened its position in National Fuel Gas Company (NYSE:NFG - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 100,012 shares of the oil and gas producer's stock after selling 3,359 shares during the period. Corebridge Financial Inc. owned about 0.11% of National Fuel Gas worth $7,920,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NFG. LSV Asset Management raised its holdings in shares of National Fuel Gas by 29.6% during the first quarter. LSV Asset Management now owns 2,153,236 shares of the oil and gas producer's stock valued at $170,515,000 after purchasing an additional 491,890 shares during the last quarter. Invesco Ltd. raised its holdings in shares of National Fuel Gas by 93.7% during the first quarter. Invesco Ltd. now owns 951,069 shares of the oil and gas producer's stock valued at $75,315,000 after purchasing an additional 460,100 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of National Fuel Gas by 98.9% during the first quarter. Mackenzie Financial Corp now owns 715,645 shares of the oil and gas producer's stock valued at $56,672,000 after purchasing an additional 355,800 shares during the last quarter. Northern Trust Corp raised its holdings in shares of National Fuel Gas by 37.9% during the fourth quarter. Northern Trust Corp now owns 1,019,072 shares of the oil and gas producer's stock valued at $61,837,000 after purchasing an additional 279,857 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of National Fuel Gas during the first quarter valued at approximately $20,892,000. Institutional investors own 73.96% of the company's stock.

National Fuel Gas Price Performance

Shares of NFG traded down $0.37 during mid-day trading on Wednesday, reaching $86.70. The stock had a trading volume of 96,573 shares, compared to its average volume of 634,221. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 0.51 and a beta of 0.61. National Fuel Gas Company has a 12 month low of $58.50 and a 12 month high of $89.82. The business has a fifty day moving average of $86.32 and a 200 day moving average of $81.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.39 and a current ratio of 0.46.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.14. The business had revenue of $531.83 million during the quarter, compared to analyst estimates of $596.12 million. National Fuel Gas had a net margin of 11.15% and a return on equity of 20.81%. The company's revenue was up 27.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. National Fuel Gas has set its FY 2026 guidance at 8.000-8.500 EPS. FY 2025 guidance at 6.800-6.950 EPS. Equities analysts predict that National Fuel Gas Company will post 6.64 EPS for the current year.

National Fuel Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.535 per share. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.52. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, June 30th. National Fuel Gas's dividend payout ratio (DPR) is currently 80.45%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NFG shares. Wall Street Zen cut shares of National Fuel Gas from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Bank of America raised shares of National Fuel Gas from an "underperform" rating to a "buy" rating and upped their target price for the company from $85.00 to $107.00 in a report on Tuesday, July 15th. Zacks Research cut shares of National Fuel Gas from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of National Fuel Gas in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, National Fuel Gas currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.67.

National Fuel Gas Profile

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.