Vanguard Group Inc. Reduces Holdings in National Fuel Gas Company (NYSE:NFG)

Key Points

• Vanguard Group Inc. reduced its holdings in National Fuel Gas Company by 3.3% during the 1st quarter, owning approximately 12,579,371 shares worth $996 million by the end of the period.
• Analysts have recently raised their target prices for National Fuel Gas, with Scotiabank increasing it from $88 to $98 and Bank of America upgrading the stock from "underperform" to "buy" with a new target of $107.
• National Fuel Gas announced a quarterly dividend of $0.535 per share, representing an annualized yield of 2.4%, reflecting an increase from its previous dividend of $0.52.

Vanguard Group Inc. decreased its position in shares of National Fuel Gas Company (NYSE:NFG - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,579,371 shares of the oil and gas producer's stock after selling 427,159 shares during the period. Vanguard Group Inc. owned approximately 13.92% of National Fuel Gas worth $996,160,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in shares of National Fuel Gas by 9,475.0% during the 1st quarter. Assetmark Inc. now owns 383 shares of the oil and gas producer's stock worth $30,000 after purchasing an additional 379 shares in the last quarter. Inlight Wealth Management LLC bought a new stake in National Fuel Gas in the first quarter worth approximately $40,000. Cranbrook Wealth Management LLC acquired a new stake in National Fuel Gas in the first quarter valued at approximately $40,000. Quarry LP purchased a new position in shares of National Fuel Gas during the fourth quarter valued at approximately $32,000. Finally, Ameriflex Group Inc. purchased a new position in shares of National Fuel Gas during the fourth quarter valued at approximately $36,000. Institutional investors own 73.96% of the company's stock.

National Fuel Gas Stock Performance

Shares of NYSE NFG traded up $0.25 during trading on Wednesday, reaching $88.01. 532,001 shares of the stock traded hands, compared to its average volume of 672,011. National Fuel Gas Company has a 52-week low of $58.30 and a 52-week high of $89.82. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.46 and a quick ratio of 0.39. The company has a 50-day moving average of $85.48 and a 200-day moving average of $79.79. The stock has a market capitalization of $7.95 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 0.51 and a beta of 0.65.

National Fuel Gas (NYSE:NFG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.14. National Fuel Gas had a return on equity of 20.81% and a net margin of 11.15%. The company had revenue of $531.83 million for the quarter, compared to analyst estimates of $596.12 million. During the same period in the previous year, the company posted $0.99 EPS. The firm's revenue for the quarter was up 27.4% compared to the same quarter last year. Analysts forecast that National Fuel Gas Company will post 6.64 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.535 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.14 dividend on an annualized basis and a yield of 2.4%. This is an increase from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's dividend payout ratio is currently 80.45%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NFG. Wall Street Zen cut National Fuel Gas from a "buy" rating to a "hold" rating in a research report on Sunday. Bank of America raised National Fuel Gas from an "underperform" rating to a "buy" rating and boosted their price objective for the stock from $85.00 to $107.00 in a research report on Tuesday, July 15th. Finally, Scotiabank reissued an "outperform" rating on shares of National Fuel Gas in a research report on Wednesday. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, National Fuel Gas presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.67.

About National Fuel Gas

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.