National Fuel Gas Company $NFG Shares Bought by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its National Fuel Gas stake by 69.7% in the first quarter, adding 118,320 shares to own 287,972 shares valued at approximately $27.1 million. Institutional investors collectively hold 73.96% of NFG’s stock.
• National Fuel Gas reported quarterly adjusted EPS of $1.54, topping the $1.44 consensus estimate, although revenue fell short and upstream production declined. Fiscal 2026 adjusted EPS guidance was lowered to $7.40–$7.60.
• The company raised its quarterly dividend to $0.555 per share, or $2.22 annually, representing a 2.7% yield and its 56th consecutive annual increase. Analysts maintain a “Moderate Buy” consensus rating with a $105.50 target price.

Arrowstreet Capital Limited Partnership boosted its holdings in National Fuel Gas Company (NYSE:NFG - Free Report) by 69.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,972 shares of the oil and gas producer's stock after purchasing an additional 118,320 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.30% of National Fuel Gas worth $27,058,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NFG. Phocas Financial Corp. bought a new position in National Fuel Gas during the 4th quarter worth $7,086,000. Oppenheimer & Co. Inc. lifted its stake in National Fuel Gas by 84.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 61,728 shares of the oil and gas producer's stock valued at $4,942,000 after buying an additional 28,293 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in National Fuel Gas in the first quarter valued at $63,863,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of National Fuel Gas by 8.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 315,753 shares of the oil and gas producer's stock valued at $25,911,000 after acquiring an additional 24,988 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of National Fuel Gas by 9.1% during the first quarter. Principal Financial Group Inc. now owns 212,091 shares of the oil and gas producer's stock valued at $19,928,000 after acquiring an additional 17,713 shares during the period. Institutional investors own 73.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NFG. Weiss Ratings cut National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. KeyCorp began coverage on shares of National Fuel Gas in a research report on Tuesday, April 7th. They set an "overweight" rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.50.

National Fuel Gas Price Performance

Shares of NYSE:NFG opened at $81.09 on Thursday. The stock has a fifty day moving average of $78.72 and a 200-day moving average of $84.50. The company has a market capitalization of $7.71 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.77 and a beta of 0.37. National Fuel Gas Company has a one year low of $75.17 and a one year high of $97.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.55 and a current ratio of 0.62.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.10. National Fuel Gas had a net margin of 27.48% and a return on equity of 20.62%. The company had revenue of $537.50 million during the quarter, compared to analyst estimates of $564.33 million. During the same period in the prior year, the firm earned $1.64 earnings per share. The business's quarterly revenue was up 1.1% on a year-over-year basis. National Fuel Gas has set its FY 2026 guidance at 7.400-7.600 EPS. As a group, equities analysts anticipate that National Fuel Gas Company will post 7.66 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.22 dividend on an annualized basis and a yield of 2.7%. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.54. National Fuel Gas's dividend payout ratio (DPR) is 30.04%.

Key Headlines Impacting National Fuel Gas

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

• Positive Sentiment: Adjusted third-quarter EPS was $1.54, above consensus estimates of approximately $1.44–$1.47. National Fuel also generated $1.035 billion in operating cash flow and $280 million in free cash flow during the first nine months. National Fuel Gas Beats Q3 Earnings Estimates
• Positive Sentiment: The board approved a 4% dividend increase to $2.22 per share, extending NFG’s streak to 56 consecutive annual dividend increases and 124 consecutive years of dividend payments. National Fuel Reports Third Quarter Fiscal 2026 Earnings
• Positive Sentiment: The CenterPoint Energy Ohio natural-gas utility acquisition remains on track to close October 1, after financing and final regulatory approval were completed. Management expects the deal to expand the regulated rate base and support 7%–10% average annual EPS growth through 2029. National Fuel Gas Reports Results, Updates Guidance and Dividend Increase
• Neutral Sentiment: Pipeline and storage earnings were essentially flat, while utility earnings increased on higher customer margins and new rates. NFG also expanded its Line N pipeline project with a 20-year transportation agreement, potentially benefiting from rising regional power-generation and data-center gas demand. National Fuel Gas Updates Investor Presentation and Outlook
• Negative Sentiment: GAAP EPS fell to $1.45 from $1.64, while adjusted EPS declined to $1.54 from $1.64. Upstream production dropped 7% and higher operating costs pressured the segment.
• Negative Sentiment: Fiscal 2026 adjusted EPS guidance was lowered from $7.45–$7.75 to $7.40–$7.60, reflecting lower expected production of 420–430 Bcf. Capital spending guidance also increased, and the company plans an additional $20–$40 million of discretionary land spending.
• Negative Sentiment: Acquisition and financing expenses produced a $7.7 million corporate loss in the quarter, creating near-term earnings dilution and adding execution and leverage concerns.

National Fuel Gas Company 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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