National Fuel Gas Company $NFG Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors cut its National Fuel Gas stake by 64.3% in the first quarter, selling 28,181 shares and retaining 15,671 shares valued at approximately $1.47 million.
• Other institutional investors substantially increased their positions, and institutional investors collectively own 73.96% of National Fuel Gas. The stock opened at $81.91, with a market capitalization of $7.78 billion.
• National Fuel Gas exceeded quarterly earnings expectations with $1.54 in EPS versus a $1.44 consensus estimate, while revenue reached $537.5 million. The company raised its quarterly dividend to $0.555 per share, and analysts maintain a “Moderate Buy” consensus with a $105.50 average price target.

NewEdge Advisors LLC lessened its holdings in National Fuel Gas Company (NYSE:NFG - Free Report) by 64.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,671 shares of the oil and gas producer's stock after selling 28,181 shares during the period. NewEdge Advisors LLC's holdings in National Fuel Gas were worth $1,473,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of National Fuel Gas by 653.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,582,782 shares of the oil and gas producer's stock valued at $126,718,000 after acquiring an additional 1,372,742 shares in the last quarter. Norges Bank acquired a new position in National Fuel Gas during the 4th quarter worth $92,415,000. AQR Capital Management LLC grew its stake in National Fuel Gas by 103.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,138,153 shares of the oil and gas producer's stock worth $197,501,000 after purchasing an additional 1,087,067 shares in the last quarter. Yaupon Capital Management LP increased its holdings in National Fuel Gas by 521.0% during the 4th quarter. Yaupon Capital Management LP now owns 1,105,979 shares of the oil and gas producer's stock worth $88,545,000 after purchasing an additional 927,873 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in National Fuel Gas during the 1st quarter worth about $63,863,000. Institutional investors and hedge funds own 73.96% of the company's stock.

National Fuel Gas Trading Down 0.0%

NFG opened at $81.91 on Monday. National Fuel Gas Company has a one year low of $75.17 and a one year high of $97.06. The company has a market cap of $7.78 billion, a P/E ratio of 11.38, a PEG ratio of 1.82 and a beta of 0.37. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.07 and a current ratio of 3.20. The business's 50-day simple moving average is $79.44 and its 200-day simple moving average is $84.56.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.10. The firm had revenue of $537.50 million during the quarter, compared to analysts' expectations of $564.33 million. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The firm's revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.64 earnings per share. As a group, equities research analysts expect that National Fuel Gas Company will post 7.5 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.555 per share. 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 payout ratio is presently 30.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NFG shares. Weiss Ratings cut National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of National Fuel Gas from a "sell" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.50.

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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