LPL Financial LLC Decreases Holdings in National Fuel Gas Company (NYSE:NFG)

Key Points

• LPL Financial LLC reduced its stake in National Fuel Gas Company by 10.1%, owning 87,216 shares valued at approximately $6.9 million after selling 9,772 shares in the first quarter.
• National Fuel Gas recently increased its quarterly dividend to $0.535 per share, reflecting a 2.4% yield and a payout ratio of 80.45%.
• In recent analyst reports, Bank of America upgraded National Fuel Gas to a "buy" rating with a target price increase from $85 to $107, while other analysts maintain varying ratings including a "hold" and "sector outperform."

LPL Financial LLC cut its stake in National Fuel Gas Company (NYSE:NFG - Free Report) by 10.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,216 shares of the oil and gas producer's stock after selling 9,772 shares during the period. LPL Financial LLC owned 0.10% of National Fuel Gas worth $6,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NFG. Assetmark Inc. lifted its holdings in National Fuel Gas by 9,475.0% in the first quarter. Assetmark Inc. now owns 383 shares of the oil and gas producer's stock worth $30,000 after buying an additional 379 shares during the period. Quarry LP purchased a new stake in National Fuel Gas in the fourth quarter worth about $32,000. Ameriflex Group Inc. bought a new position in shares of National Fuel Gas during the fourth quarter valued at approximately $36,000. Cranbrook Wealth Management LLC bought a new position in shares of National Fuel Gas during the first quarter valued at approximately $40,000. Finally, Inlight Wealth Management LLC bought a new position in shares of National Fuel Gas during the first quarter valued at approximately $40,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Scotiabank reissued an "outperform" rating on shares of National Fuel Gas in a research report on Wednesday. Wall Street Zen cut shares of National Fuel Gas from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Bank of America upgraded shares of National Fuel Gas from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $85.00 to $107.00 in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $96.67.

National Fuel Gas Price Performance

Shares of NFG traded down $0.19 during trading hours on Thursday, reaching $87.87. 229,065 shares of the stock traded hands, compared to its average volume of 644,456. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.80. National Fuel Gas Company has a 52-week low of $58.32 and a 52-week high of $89.82. The company's 50-day moving average price is $85.48 and its two-hundred day moving average price is $79.79. The company has a market cap of $7.94 billion, a P/E ratio of 33.03, a price-to-earnings-growth ratio of 0.51 and a beta of 0.65.

National Fuel Gas (NYSE:NFG - Get Free Report) last released its earnings results on Wednesday, July 30th. The oil and gas producer reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.14. National Fuel Gas had a net margin of 11.15% and a return on equity of 20.81%. The company had revenue of $531.83 million for the quarter, compared to analysts' expectations of $596.12 million. During the same quarter in the previous year, the company earned $0.99 EPS. National Fuel Gas's revenue for the quarter was up 27.4% on a year-over-year basis. On average, analysts anticipate that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, June 30th. This is an increase from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's dividend payout ratio is presently 80.45%.

National Fuel Gas Company 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.