Hsbc Holdings PLC Reduces Stock Position in National Fuel Gas Company $NFG

Key Points

• Hsbc Holdings PLC cut its National Fuel Gas position by 56.3% in the first quarter, selling 16,510 shares and retaining 12,827 shares valued at approximately $1.2 million.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $105.50, compared with the stock’s reported opening price of $81.46.
• National Fuel Gas increased its quarterly dividend to $0.555 per share, or $2.22 annually, representing a 2.7% yield; however, its latest quarterly EPS of $2.71 missed analyst expectations of $2.85.

Hsbc Holdings PLC cut its holdings in National Fuel Gas Company (NYSE:NFG - Free Report) by 56.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,827 shares of the oil and gas producer's stock after selling 16,510 shares during the period. Hsbc Holdings PLC's holdings in National Fuel Gas were worth $1,206,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NFG. SJS Investment Consulting Inc. increased its holdings in shares of National Fuel Gas by 458.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer's stock valued at $26,000 after acquiring an additional 229 shares during the last quarter. Fairscale Capital LLC purchased a new stake in National Fuel Gas during the fourth quarter worth approximately $29,000. HM Payson & Co. purchased a new stake in National Fuel Gas during the fourth quarter worth approximately $29,000. Eastern Bank acquired a new position in National Fuel Gas in the fourth quarter valued at approximately $42,000. Finally, SHP Wealth Management acquired a new position in National Fuel Gas in the fourth quarter valued at approximately $44,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. KeyCorp began coverage on shares of National Fuel Gas in a report on Tuesday, April 7th. They set an "overweight" rating and a $110.00 price objective on the stock. Weiss Ratings cut shares of National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $105.50.

National Fuel Gas Stock Performance

Shares of NFG opened at $81.46 on Wednesday. The company's 50 day simple moving average is $78.74 and its 200-day simple moving average is $84.48. The firm has a market cap of $7.74 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.76 and a beta of 0.37. National Fuel Gas Company has a 12-month low of $75.17 and a 12-month high of $97.06. The company has a current ratio of 0.62, a quick ratio of 0.55 and a debt-to-equity ratio of 0.55.

National Fuel Gas (NYSE:NFG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 EPS for the quarter, missing the consensus estimate 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%. The firm's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.39 EPS. As a group, equities 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. Shareholders of record on Tuesday, June 30th were paid a $0.555 dividend. This is a boost from National Fuel Gas's previous quarterly dividend of $0.54. This represents a $2.22 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, June 30th. National Fuel Gas's dividend payout ratio (DPR) is presently 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.

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.