Lazard Asset Management LLC Buys 18,994 Shares of National Fuel Gas Company $NFG

Key Points

• Lazard Asset Management increased its National Fuel Gas stake by 33.2% in the first quarter, purchasing 18,994 shares to own 76,253 shares valued at approximately $7.2 million. Institutional investors collectively own 73.96% of the company.
• National Fuel Gas reported quarterly EPS of $1.54, beating the $1.44 consensus estimate, while revenue rose 1.1% year over year to $537.5 million. However, fiscal 2026 EPS guidance was lowered to $7.40–$7.60.
• The company raised its quarterly dividend to $0.555, or $2.22 annually, representing a 2.7% yield and marking 56 consecutive years of dividend growth. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $105.50.

Lazard Asset Management LLC boosted its stake in National Fuel Gas Company (NYSE:NFG - Free Report) by 33.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,253 shares of the oil and gas producer's stock after purchasing an additional 18,994 shares during the quarter. Lazard Asset Management LLC owned about 0.08% of National Fuel Gas worth $7,165,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in shares of National Fuel Gas by 30.0% during the first quarter. Goldman Sachs Group Inc. now owns 159,953 shares of the oil and gas producer's stock valued at $12,667,000 after purchasing an additional 36,913 shares during the period. Empowered Funds LLC bought a new stake in National Fuel Gas in the 1st quarter valued at about $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in National Fuel Gas by 3.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,730 shares of the oil and gas producer's stock valued at $17,480,000 after buying an additional 8,304 shares in the last quarter. Focus Partners Wealth raised its stake in National Fuel Gas by 79.5% during the 1st quarter. Focus Partners Wealth now owns 12,729 shares of the oil and gas producer's stock worth $1,008,000 after buying an additional 5,638 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in National Fuel Gas during the 1st quarter worth approximately $138,000. 73.96% of the stock is owned by institutional investors.

National Fuel Gas Stock Performance

Shares of National Fuel Gas stock opened at $82.51 on Friday. National Fuel Gas Company has a 52 week low of $75.17 and a 52 week high of $97.06. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $78.75 and a 200-day moving average price of $84.53. The company has a market cap of $7.84 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.76 and a beta of 0.37.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.10. The firm had revenue of $537.50 million during the quarter, compared to analyst estimates of $564.33 million. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.61%. The business's revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. National Fuel Gas has set its FY 2026 guidance at 7.400-7.600 EPS. Equities analysts anticipate that National Fuel Gas Company will post 7.66 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.555 dividend. This is an increase from National Fuel Gas's previous quarterly dividend of $0.54. 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 2.7%. National Fuel Gas's payout ratio is presently 30.83%.

Key National Fuel Gas News

Here are the key news stories impacting National Fuel Gas this week:

• Positive Sentiment: Quarterly earnings exceeded expectations. Fiscal third-quarter adjusted EPS was $1.54, above the $1.44-$1.47 analyst consensus, while revenue increased 1.1% year over year to $537.5 million. National Fuel Gas Q3 Earnings Surpass Estimates, Revenues Increase Y/Y
• Positive Sentiment: Cash flow and shareholder returns remained strong. Operating cash flow reached $1.035 billion during the first nine months of fiscal 2026, with $280 million in free cash flow. The board also approved a 4% dividend increase to $2.22 annually, extending NFG’s streak to 56 consecutive years of dividend growth.
• Positive Sentiment: Ohio utility acquisition remains on track. National Fuel completed financing and received final regulatory approval for the CenterPoint Energy Ohio gas utility acquisition, which is expected to close October 1, 2026. Management expects the deal to expand its regulated rate base and support long-term earnings growth.
• Positive Sentiment: Pipeline and long-term growth opportunities improved. NFG expanded its Line N pipeline project and signed a 20-year agreement for incremental firm transportation capacity. Management continues to forecast average annual EPS growth of approximately 7%-10% through 2029.
• Neutral Sentiment: Regulated utility results improved, but other operations were mixed. Utility earnings increased on higher customer margins and New York rate benefits, while Pipeline and Storage earnings were essentially flat. The upstream segment benefited from hedges and higher realized prices after hedging, partially offsetting weaker production.
• Negative Sentiment: Fiscal 2026 guidance was reduced. Adjusted EPS guidance was lowered from $7.45-$7.75 to $7.40-$7.60, reflecting expected production of 420-430 Bcf versus the prior 425-440 Bcf forecast. Third-quarter production fell 7% year over year, while lease operating, gathering and depreciation costs increased.
• Negative Sentiment: Profitability declined year over year. GAAP EPS fell to $1.45 from $1.64, and acquisition-related transaction and financing costs contributed to a $7.7 million corporate loss. Capital expenditure guidance also increased, adding to near-term spending requirements.

Analyst Upgrades and Downgrades

NFG has been the topic of several recent research reports. KeyCorp began coverage on National Fuel Gas in a report on Tuesday, April 7th. They issued an "overweight" rating and a $110.00 price target on the stock. Weiss Ratings lowered National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $105.50.

About National Fuel Gas

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.

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