National Fuel Gas Company $NFG Shares Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its National Fuel Gas stake by 2.6% in the first quarter, bringing its holding to 947,563 shares worth about $89 million.
• Several other institutional investors also adjusted positions, and hedge funds and institutions now own 73.96% of the company’s stock.
• National Fuel Gas recently raised its quarterly dividend to $0.555 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $105.50.

Bank of New York Mellon Corp grew its position in National Fuel Gas Company (NYSE:NFG - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 947,563 shares of the oil and gas producer's stock after buying an additional 24,003 shares during the period. Bank of New York Mellon Corp owned 1.00% of National Fuel Gas worth $89,033,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in National Fuel Gas by 30.0% in 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 acquiring an additional 36,913 shares during the last quarter. Empowered Funds LLC acquired a new stake in National Fuel Gas during the first quarter worth $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in National Fuel Gas by 3.9% in the first 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 purchasing an additional 8,304 shares during the period. Focus Partners Wealth raised its position in National Fuel Gas by 79.5% in the first quarter. Focus Partners Wealth now owns 12,729 shares of the oil and gas producer's stock valued at $1,008,000 after purchasing an additional 5,638 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of National Fuel Gas in the 1st quarter valued at $138,000. Institutional investors and hedge funds own 73.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings cut National Fuel Gas from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, June 8th. KeyCorp started coverage on shares of National Fuel Gas in a report on Tuesday, April 7th. They issued an "overweight" rating and a $110.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $105.50.

National Fuel Gas Stock Down 0.4%

National Fuel Gas stock opened at $80.84 on Wednesday. National Fuel Gas Company has a fifty-two week low of $75.17 and a fifty-two week 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. The firm has a 50 day moving average price of $78.77 and a 200 day moving average price of $84.43. The company has a market capitalization of $7.68 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.77 and a beta of 0.37.

National Fuel Gas (NYSE:NFG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 EPS for the quarter, missing analysts' consensus estimates of $2.85 by ($0.14). National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.The firm had revenue of $858.37 million for the quarter, compared to analyst estimates of $856.57 million. During the same quarter last year, the company earned $2.39 earnings per share. The firm's revenue for the quarter was up 17.6% on a year-over-year basis. Research analysts expect that National Fuel Gas Company will post 7.66 earnings per share for the current 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 issued a $0.555 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.22 annualized dividend and a dividend yield of 2.7%. This is a boost from National Fuel Gas's previous quarterly dividend of $0.54. National Fuel Gas's dividend payout ratio (DPR) is presently 30.04%.

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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