Legal & General Group Plc Buys Shares of 132,545 National Fuel Gas Company $NFG

Key Points

• Legal & General Group Plc acquired 132,545 shares of National Fuel Gas worth approximately $10.2 million, giving it a 0.14% stake. Institutional investors collectively own 73.96% of the company.
• National Fuel Gas reported quarterly EPS of $1.54, exceeding the $1.44 analyst consensus, although revenue of $537.5 million fell short of estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $105.50.
• The company increased its quarterly dividend to $0.555 per share, equivalent to $2.22 annually and a 2.7% yield. Shares opened at $83.18 and recently traded within a $75.17–$97.06 one-year range.

Legal & General Group Plc bought a new stake in National Fuel Gas Company (NYSE:NFG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 132,545 shares of the oil and gas producer's stock, valued at approximately $10,234,000. Legal & General Group Plc owned 0.14% of National Fuel Gas at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. NewEdge Wealth LLC grew its position in National Fuel Gas by 6.2% in the 4th quarter. NewEdge Wealth LLC now owns 2,680 shares of the oil and gas producer's stock valued at $215,000 after buying an additional 156 shares during the last quarter. Optas LLC increased its stake in National Fuel Gas by 5.3% in the 1st quarter. Optas LLC now owns 3,238 shares of the oil and gas producer's stock valued at $304,000 after buying an additional 163 shares during the period. Brooklyn Investment Group raised its position in National Fuel Gas by 7.5% during the 3rd quarter. Brooklyn Investment Group now owns 2,434 shares of the oil and gas producer's stock worth $225,000 after buying an additional 169 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of National Fuel Gas by 5.3% in the 1st quarter. Inspire Investing LLC now owns 3,465 shares of the oil and gas producer's stock worth $326,000 after acquiring an additional 174 shares during the period. Finally, Advisory Services Network LLC lifted its stake in shares of National Fuel Gas by 1.1% in 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 acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 73.96% of the company's stock.

Wall Street Analyst Weigh In

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

National Fuel Gas Trading Up 0.3%

NYSE:NFG opened at $83.18 on Tuesday. The stock has a fifty day moving average price of $80.85 and a two-hundred day moving average price of $84.47. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.84 and a beta of 0.37. 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 Company has a 1 year low of $75.17 and a 1 year high of $97.06.

National Fuel Gas (NYSE:NFG - Get Free Report) last released its earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.10. The company had revenue of $537.50 million during the quarter, compared to the consensus estimate of $564.33 million. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.National Fuel Gas's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. As a group, sell-side analysts anticipate that National Fuel Gas Company will post 7.5 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.555 dividend. This represents a $2.22 annualized dividend and a dividend yield of 2.7%. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, June 30th. National Fuel Gas's dividend payout ratio (DPR) is 30.83%.

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.

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