Shares of National Fuel Gas Co. (NYSE:NFG) dropped 6.9% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $50.76 and last traded at $51.18. Approximately 2,007,649 shares changed hands during trading, an increase of 318% from the average daily volume of 480,554 shares. The stock had previously closed at $55.00.
The oil and gas producer reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.05). National Fuel Gas had a net margin of 25.09% and a return on equity of 15.77%. The firm had revenue of $289.20 million for the quarter, compared to analyst estimates of $316.56 million. During the same period in the previous year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Thursday, September 27th. National Fuel Gas’s payout ratio is 50.90%.
NFG has been the topic of a number of recent research reports. US Capital Advisors reissued an “overweight” rating on shares of National Fuel Gas in a research note on Tuesday, July 17th. Zacks Investment Research raised National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. TheStreet raised National Fuel Gas from a “c+” rating to a “b-” rating in a research note on Wednesday, August 8th. Finally, ValuEngine raised National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $61.60.
In other news, insider Ronald C. Kraemer sold 3,054 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $55.47, for a total transaction of $169,405.38. Following the completion of the transaction, the insider now directly owns 34,427 shares in the company, valued at $1,909,665.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.57% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. NumerixS Investment Technologies Inc bought a new position in shares of National Fuel Gas during the second quarter worth about $137,000. Captrust Financial Advisors raised its position in shares of National Fuel Gas by 49.0% during the second quarter. Captrust Financial Advisors now owns 3,018 shares of the oil and gas producer’s stock worth $161,000 after acquiring an additional 993 shares during the last quarter. IFP Advisors Inc raised its position in shares of National Fuel Gas by 80.1% during the third quarter. IFP Advisors Inc now owns 3,046 shares of the oil and gas producer’s stock worth $171,000 after acquiring an additional 1,355 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of National Fuel Gas during the third quarter worth about $172,000. Finally, Sawtooth Solutions LLC bought a new position in shares of National Fuel Gas during the third quarter worth about $213,000. Institutional investors own 71.69% of the company’s stock.
The company has a debt-to-equity ratio of 0.95, a current ratio of 0.89 and a quick ratio of 0.81. The stock has a market capitalization of $4.40 billion, a PE ratio of 15.32, a PEG ratio of 3.08 and a beta of 0.75.
About National Fuel Gas (NYSE:NFG)
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.
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