Philip C. Ackerman Sells 27,838 Shares of National Fuel Gas Co. (NFG) Stock
National Fuel Gas Co. (NYSE:NFG) Director Philip C. Ackerman sold 27,838 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $55.76, for a total transaction of $1,552,246.88. Following the transaction, the director now directly owns 583,694 shares in the company, valued at $32,546,777.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of National Fuel Gas Co. (NYSE:NFG) opened at 54.72 on Friday. The firm’s market cap is $4.65 billion. National Fuel Gas Co. has a 52-week low of $37.03 and a 52-week high of $59.62. The company’s 50 day moving average is $56.86 and its 200 day moving average is $54.81.
National Fuel Gas (NYSE:NFG) last released its quarterly earnings results on Friday, August 5th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. National Fuel Gas had a negative net margin of 35.33% and a positive return on equity of 13.87%. The business had revenue of $335.60 million for the quarter, compared to analysts’ expectations of $384.26 million. During the same period in the previous year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts anticipate that National Fuel Gas Co. will post $2.96 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Wednesday, September 28th. National Fuel Gas’s payout ratio is -26.60%.
NFG has been the topic of several recent research reports. 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 report on Tuesday, July 5th. Barclays PLC raised their target price on shares of National Fuel Gas from $47.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Jefferies Group raised their target price on shares of National Fuel Gas from $59.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, July 25th. Finally, Argus reaffirmed a “hold” rating on shares of National Fuel Gas in a report on Thursday, June 9th. Eight equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $60.67.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in National Fuel Gas by 25.0% in the first quarter. JPMorgan Chase & Co. now owns 3,535,229 shares of the company’s stock worth $176,938,000 after buying an additional 706,467 shares during the last quarter. State Street Corp boosted its position in National Fuel Gas by 11.7% in the first quarter. State Street Corp now owns 6,439,757 shares of the company’s stock worth $322,305,000 after buying an additional 673,010 shares during the last quarter. Vanguard Group Inc. boosted its position in National Fuel Gas by 4.6% in the second quarter. Vanguard Group Inc. now owns 6,234,744 shares of the company’s stock worth $354,632,000 after buying an additional 274,488 shares during the last quarter. Barclays PLC boosted its position in National Fuel Gas by 3,041.7% in the first quarter. Barclays PLC now owns 81,874 shares of the company’s stock worth $4,094,000 after buying an additional 79,268 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in National Fuel Gas during the second quarter worth $3,956,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.
About National Fuel Gas
National Fuel Gas Company is a holding company. The Company is an energy company engaged in the production, gathering, transportation, distribution and marketing of natural gas. The Company operates through five segments: Exploration and Production, including operations carried out through its subsidiary, Seneca Resources Corporation; Pipeline and Storage, including operations carried out through its subsidiaries, National Fuel Gas Supply Corporation and Empire Pipeline, Inc; Gathering, including operations carried out through subsidiaries of National Fuel Gas Midstream Corporation; Utility, including operations are carried out by through its subsidiary, Distribution Corporation, and Energy Marketing, including operations carried out through its subsidiary, National Fuel Resources, Inc The Company operates an integrated business, with assets centered in western New York and Pennsylvania.
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