Summit Global Investments Raises Stock Position in National Fuel Gas (NYSE:NFG)

Summit Global Investments grew its holdings in National Fuel Gas (NYSE:NFG) by 76.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,096 shares of the oil and gas producer’s stock after purchasing an additional 20,382 shares during the period. Summit Global Investments owned approximately 0.05% of National Fuel Gas worth $2,854,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of NFG. Vanguard Group Inc. lifted its stake in National Fuel Gas by 0.8% during the first quarter. Vanguard Group Inc. now owns 13,313,064 shares of the oil and gas producer’s stock worth $715,178,000 after purchasing an additional 104,587 shares in the last quarter. Energy Income Partners LLC raised its holdings in shares of National Fuel Gas by 2.4% in the 1st quarter. Energy Income Partners LLC now owns 2,595,437 shares of the oil and gas producer’s stock valued at $139,427,000 after buying an additional 62,009 shares during the period. Gabelli Funds LLC lifted its stake in National Fuel Gas by 1.0% during the 2nd quarter. Gabelli Funds LLC now owns 2,533,482 shares of the oil and gas producer’s stock worth $137,289,000 after acquiring an additional 24,800 shares in the last quarter. Victory Capital Management Inc. boosted its holdings 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 period. Finally, Gamco Investors INC. ET AL grew its position in National Fuel Gas by 7.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,320,850 shares of the oil and gas producer’s stock valued at $70,956,000 after acquiring an additional 96,410 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

Shares of NFG stock opened at $58.91 on Friday. National Fuel Gas has a 12 month low of $45.32 and a 12 month high of $63.54. The company has a current ratio of 0.77, a quick ratio of 0.65 and a debt-to-equity ratio of 0.85. The company has a market cap of $5.38 billion, a P/E ratio of 17.08 and a beta of 0.62. The firm has a fifty day moving average price of $60.60 and a 200 day moving average price of $57.87.

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

National Fuel Gas Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Transactions at National Fuel Gas

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

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.