Mackenzie Financial Corp Cuts Stock Holdings in National Fuel Gas Company $NFG

Key Points

• Mackenzie Financial cut its stake in National Fuel Gas (NFG) by 19.7% in Q3, selling 146,545 shares and ending the quarter with 597,991 shares (about 0.66% ownership) worth roughly $55.24 million.
• National Fuel Gas beat Q3 estimates with $2.06 EPS (vs. $1.91) and $651.51M revenue, issued FY 2026 guidance of 7.600–8.100 EPS, and declared a quarterly dividend of $0.535 ($2.14 annualized, ~2.3% yield).
• Analyst sentiment is mixed but mildly positive — two Buy ratings and two Holds, an average rating of "Moderate Buy" and an average price target of $104.00.

Mackenzie Financial Corp lowered its position in National Fuel Gas Company (NYSE:NFG - Free Report) by 19.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 597,991 shares of the oil and gas producer's stock after selling 146,545 shares during the period. Mackenzie Financial Corp owned about 0.66% of National Fuel Gas worth $55,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in shares of National Fuel Gas by 1.8% during the 3rd quarter. Franklin Resources Inc. now owns 213,134 shares of the oil and gas producer's stock worth $19,687,000 after buying an additional 3,862 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of National Fuel Gas by 1.6% in the third quarter. Van ECK Associates Corp now owns 61,061 shares of the oil and gas producer's stock valued at $5,640,000 after buying an additional 980 shares in the last quarter. Vestcor Inc grew its holdings in National Fuel Gas by 20.1% during the third quarter. Vestcor Inc now owns 14,344 shares of the oil and gas producer's stock worth $1,325,000 after acquiring an additional 2,404 shares during the period. Swiss National Bank grew its holdings in National Fuel Gas by 1.3% during the third quarter. Swiss National Bank now owns 166,400 shares of the oil and gas producer's stock worth $15,370,000 after acquiring an additional 2,100 shares during the period. Finally, Russell Investments Group Ltd. raised its position in National Fuel Gas by 42.8% in the third quarter. Russell Investments Group Ltd. now owns 46,759 shares of the oil and gas producer's stock worth $4,319,000 after acquiring an additional 14,005 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company's stock.

Analyst Upgrades and Downgrades

NFG has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "buy (b-)" rating on shares of National Fuel Gas in a report on Monday, December 29th. Scotiabank set a $101.00 price target on shares of National Fuel Gas in a report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of National Fuel Gas from a "strong sell" rating to a "hold" rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $104.00.

National Fuel Gas Stock Performance

NFG opened at $93.79 on Friday. National Fuel Gas Company has a 1-year low of $69.93 and a 1-year high of $94.69. The stock has a market cap of $8.91 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.19 and a beta of 0.57. The stock's 50 day simple moving average is $85.42 and its 200 day simple moving average is $84.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.65 and a quick ratio of 0.59.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The oil and gas producer reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.15. The firm had revenue of $651.51 million during the quarter, compared to analysts' expectations of $650.70 million. National Fuel Gas had a return on equity of 21.45% and a net margin of 27.65%.National Fuel Gas's revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 earnings per share. National Fuel Gas has set its FY 2026 guidance at 7.600-8.100 EPS. As a group, equities analysts anticipate that National Fuel Gas Company will post 6.64 EPS for the current fiscal year.

National Fuel Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 31st. National Fuel Gas's payout ratio is 29.85%.

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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