Great West Life Assurance Co. Can Trims Stake in National Fuel Gas Co. (NFG)

Great West Life Assurance Co. Can cut its position in National Fuel Gas Co. (NYSE:NFG) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 48,168 shares of the oil and gas producer’s stock after selling 1,562 shares during the quarter. Great West Life Assurance Co. Can’s holdings in National Fuel Gas were worth $2,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in National Fuel Gas during the 2nd quarter valued at about $205,000. First Merchants Corp acquired a new position in National Fuel Gas during the 2nd quarter valued at about $265,000. Principal Financial Group Inc. boosted its stake in National Fuel Gas by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 376,502 shares of the oil and gas producer’s stock valued at $19,371,000 after purchasing an additional 13,384 shares during the last quarter. Forsta AP Fonden acquired a new position in National Fuel Gas during the 1st quarter valued at about $1,456,000. Finally, Millennium Management LLC boosted its stake in National Fuel Gas by 887.9% during the 1st quarter. Millennium Management LLC now owns 266,781 shares of the oil and gas producer’s stock valued at $13,726,000 after purchasing an additional 239,775 shares during the last quarter. Institutional investors own 71.10% of the company’s stock.

National Fuel Gas stock opened at $56.77 on Monday. National Fuel Gas Co. has a 52 week low of $48.31 and a 52 week high of $59.90. The company has a current ratio of 0.89, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.45 and a beta of 0.83.

National Fuel Gas (NYSE:NFG) last posted its earnings results on Thursday, August 2nd. The oil and gas producer reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.08. National Fuel Gas had a net margin of 25.09% and a return on equity of 15.77%. The firm had revenue of $342.90 million for the quarter, compared to analysts’ expectations of $380.47 million. During the same quarter last year, the firm earned $0.69 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. sell-side analysts expect that National Fuel Gas Co. will post 3.39 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.70 annualized dividend and a dividend yield of 2.99%. National Fuel Gas’s dividend payout ratio is currently 51.52%.

A number of equities analysts have issued reports on NFG shares. TheStreet upgraded National Fuel Gas from a “c+” rating to a “b-” rating in a research note on Wednesday, August 8th. Zacks Investment Research raised shares of National Fuel Gas from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Friday, August 31st. Finally, US Capital Advisors reissued an “overweight” rating on shares of National Fuel Gas in a research report on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. National Fuel Gas presently has a consensus rating of “Hold” and an average price target of $61.00.

In other National Fuel Gas news, insider Ronald C. Kraemer sold 3,054 shares of National Fuel Gas stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $55.47, for a total transaction of $169,405.38. Following the transaction, the insider now owns 34,427 shares of the company’s stock, valued at approximately $1,909,665.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.57% of the stock is owned by company insiders.

National Fuel Gas Profile

National Fuel Gas Company operates as a diversified energy company. The company operates in five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. The Exploration and Production segment explores for, develops, and produces natural gas and oil reserves in California in the Appalachian region of the United States.

Featured Article: What does earnings per share mean?

Want to see what other hedge funds are holding NFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Fuel Gas Co. (NYSE:NFG).

Institutional Ownership by Quarter for National Fuel Gas (NYSE:NFG)

Receive News & Ratings for National Fuel Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Fuel Gas and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply