Hsbc Holdings PLC Invests $989,000 in National Fuel Gas Company $NFG

Key Points

• HSBC Holdings acquired 12,827 shares of National Fuel Gas in the second quarter, valued at approximately $989,000. Institutional investors and hedge funds collectively own 73.96% of the company.
• National Fuel Gas reported quarterly earnings of $1.54 per share, exceeding estimates of $1.44, while revenue reached $537.5 million and rose 1.1% year over year.
• The company increased its quarterly dividend to $0.555 per share, representing an annualized dividend of $2.22 and a 2.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $105.50.

Hsbc Holdings PLC purchased a new stake in National Fuel Gas Company (NYSE:NFG - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 12,827 shares of the oil and gas producer's stock, valued at approximately $989,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. NewEdge Wealth LLC lifted its holdings in National Fuel Gas by 6.2% in the fourth quarter. NewEdge Wealth LLC now owns 2,680 shares of the oil and gas producer's stock worth $215,000 after acquiring an additional 156 shares during the last quarter. Optas LLC boosted its stake in National Fuel Gas by 5.3% in the first quarter. Optas LLC now owns 3,238 shares of the oil and gas producer's stock valued at $304,000 after acquiring an additional 163 shares during the period. Brooklyn Investment Group grew its holdings in shares of National Fuel Gas by 7.5% during the third quarter. Brooklyn Investment Group now owns 2,434 shares of the oil and gas producer's stock valued at $225,000 after purchasing an additional 169 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of National Fuel Gas by 5.3% during the first quarter. Inspire Investing LLC now owns 3,465 shares of the oil and gas producer's stock valued at $326,000 after purchasing an additional 174 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in shares of National Fuel Gas by 1.1% during the 3rd quarter. Advisory Services Network LLC now owns 16,732 shares of the oil and gas producer's stock worth $1,546,000 after purchasing an additional 175 shares during the period. 73.96% of the stock is owned by institutional investors and hedge funds.

National Fuel Gas Trading Up 0.9%

Shares of NFG stock opened at $83.84 on Wednesday. National Fuel Gas Company has a 1 year low of $75.17 and a 1 year high of $97.06. The firm has a market capitalization of $7.97 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.85 and a beta of 0.37. The stock has a fifty day moving average of $80.99 and a two-hundred day moving average of $84.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.07 and a current ratio of 3.20.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.10. The business had revenue of $537.50 million for the quarter, compared to analysts' expectations of $564.33 million. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The company's revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 earnings per share. As a group, research analysts expect that National Fuel Gas Company will post 7.49 EPS for the current year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.555 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from National Fuel Gas's previous quarterly dividend of $0.54. National Fuel Gas's dividend payout ratio (DPR) is currently 30.83%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings downgraded National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. Wall Street Zen downgraded National Fuel Gas from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, KeyCorp reaffirmed an "overweight" rating on shares of National Fuel Gas in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $105.50.

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.

Want to see what other hedge funds are holding NFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Fuel Gas Company (NYSE:NFG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source