National Fuel Gas Company $NFG Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC trimmed its National Fuel Gas stake by 1.0% in the first quarter, selling 23,419 shares and still holding 2.33 million shares worth about $219.1 million. The position remains one of the fund’s largest, representing 1.5% of its portfolio.
• National Fuel Gas reported mixed quarterly results, with earnings of $2.71 per share missing estimates of $2.85, while revenue of $858.37 million slightly topped expectations. Revenue rose 17.6% year over year, and analysts now expect full-year EPS of 7.66.
• The company raised its dividend to $0.555 per share from $0.54, for an annualized payout of $2.22 and a yield of 2.7%. Analysts currently rate the stock a consensus Moderate Buy with an average price target of $105.50.

Gabelli Funds LLC reduced its position in National Fuel Gas Company (NYSE:NFG - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,331,863 shares of the oil and gas producer's stock after selling 23,419 shares during the quarter. National Fuel Gas makes up 1.5% of Gabelli Funds LLC's portfolio, making the stock its 3rd largest holding. Gabelli Funds LLC owned approximately 2.45% of National Fuel Gas worth $219,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NFG. SJS Investment Consulting Inc. lifted its holdings in shares of National Fuel Gas by 458.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer's stock worth $26,000 after acquiring an additional 229 shares during the period. Fairscale Capital LLC bought a new position in National Fuel Gas during the fourth quarter worth about $29,000. HM Payson & Co. acquired a new stake in National Fuel Gas during the fourth quarter valued at approximately $29,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of National Fuel Gas in the 1st quarter valued at approximately $38,000. Finally, Eastern Bank bought a new stake in shares of National Fuel Gas in the 4th quarter valued at approximately $42,000. Institutional investors own 73.96% of the company's stock.

National Fuel Gas Trading Up 0.4%

Shares of NFG stock opened at $82.43 on Friday. The company has a market capitalization of $7.83 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.79 and a beta of 0.37. National Fuel Gas Company has a 12-month low of $75.17 and a 12-month high of $97.06. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $78.85 and a 200 day moving average price of $84.44.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The oil and gas producer reported $2.71 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.14). The firm had revenue of $858.37 million for the quarter, compared to the consensus estimate of $856.57 million. National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.National Fuel Gas's quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.39 earnings per share. Research analysts forecast that National Fuel Gas Company will post 7.66 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.555 per share. This is a boost from National Fuel Gas's previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, June 30th. This represents a $2.22 dividend on an annualized basis and a yield of 2.7%. National Fuel Gas's dividend payout ratio is currently 30.04%.

Analyst Ratings Changes

Several research firms recently commented on NFG. KeyCorp began coverage on National Fuel Gas in a research report on Tuesday, April 7th. They set an "overweight" rating and a $110.00 target price for the company. Weiss Ratings cut National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. One investment 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 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 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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