National Fuel Gas (NYSE:NFG) Shares Bought by Summit Global Investments

Summit Global Investments grew its holdings in National Fuel Gas (NYSE:NFG) by 76.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 47,096 shares of the oil and gas producer’s stock after acquiring an additional 20,382 shares during the quarter. Summit Global Investments’ holdings in National Fuel Gas were worth $2,854,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. raised its stake in National Fuel Gas by 46.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,732,969 shares of the oil and gas producer’s stock valued at $93,910,000 after acquiring an additional 550,153 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of National Fuel Gas by 159.5% during the second quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock worth $47,711,000 after purchasing an additional 541,176 shares during the last quarter. Equity Investment Corp lifted its holdings in shares of National Fuel Gas by 27.7% during the first quarter. Equity Investment Corp now owns 1,242,186 shares of the oil and gas producer’s stock worth $66,730,000 after purchasing an additional 269,441 shares during the period. Allspring Global Investments Holdings LLC grew its position in National Fuel Gas by 194.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 378,588 shares of the oil and gas producer’s stock valued at $20,516,000 after buying an additional 249,967 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in National Fuel Gas by 262.5% in the 2nd quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock valued at $17,237,000 after buying an additional 230,332 shares during the period. Institutional investors and hedge funds own 73.96% of the company’s stock.

Insider Activity at National Fuel Gas

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total transaction of $103,309.00. Following the completion of the transaction, the general counsel now owns 8,203 shares of the company’s stock, valued at approximately $498,496.31. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.55% of the stock is owned by corporate insiders.

National Fuel Gas Stock Performance

NYSE NFG opened at $58.91 on Friday. The business has a 50 day moving average price of $60.60 and a 200 day moving average price of $57.87. The company has a market capitalization of $5.38 billion, a P/E ratio of 17.08 and a beta of 0.62. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $63.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.77 and a quick ratio of 0.65.

National Fuel Gas (NYSE:NFG) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.06). The business had revenue of $372.07 million during the quarter, compared to analyst estimates of $482.49 million. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. Sell-side analysts expect that National Fuel Gas will post 5.08 EPS for the current fiscal year.

National Fuel Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.515 per share. The ex-dividend date was Monday, September 30th. This represents a $2.06 annualized dividend and a dividend yield of 3.50%. National Fuel Gas’s dividend payout ratio is currently 59.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NFG. StockNews.com lowered National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Bank of America assumed coverage on National Fuel Gas in a research note on Monday, October 28th. They issued an “underperform” rating and a $62.00 price target on the stock. Scotiabank increased their price objective on National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. reduced their target price on National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, September 12th.

National Fuel Gas Company Profile

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.