Philip C. Ackerman Sells 105,929 Shares of National Fuel Gas Co. (NFG) Stock
National Fuel Gas Co. (NYSE:NFG) Director Philip C. Ackerman sold 105,929 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $55.09, for a total value of $5,835,628.61. Following the completion of the transaction, the director now directly owns 477,765 shares of the company’s stock, valued at approximately $26,320,073.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of National Fuel Gas Co. (NYSE:NFG) opened at 54.07 on Friday. The company’s 50-day moving average price is $56.77 and its 200-day moving average price is $54.85. National Fuel Gas Co. has a 52-week low of $37.03 and a 52-week high of $59.62. The company’s market capitalization is $4.60 billion.
National Fuel Gas (NYSE:NFG) last posted its earnings results on Friday, August 5th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $335.60 million for the quarter, compared to analyst estimates of $384.26 million. During the same quarter in the prior year, the business posted $0.55 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts forecast that National Fuel Gas Co. will post $2.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.405 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.00%. National Fuel Gas’s dividend payout ratio is presently -26.60%.
Several research firms have commented on NFG. Barclays PLC upped their price target on National Fuel Gas from $47.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, August 10th. Zacks Investment Research cut National Fuel Gas from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Jefferies Group increased their target price on 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 reissued 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, National Fuel Gas has a consensus rating of “Hold” and an average price target of $60.67.
Several large investors have recently bought and sold shares of NFG. NN Investment Partners Holdings N.V. purchased a new stake in National Fuel Gas during the first quarter valued at approximately $130,000. Glenmede Trust Co. NA raised its stake in National Fuel Gas by 4.5% in the second quarter. Glenmede Trust Co. NA now owns 2,788 shares of the company’s stock valued at $157,000 after buying an additional 120 shares during the period. Canandaigua National Bank & Trust Co. purchased a new stake in National Fuel Gas during the second quarter valued at approximately $205,000. Peapack Gladstone Financial Corp purchased a new stake in National Fuel Gas during the second quarter valued at approximately $213,000. Finally, Oakbrook Investments LLC purchased a new stake in National Fuel Gas during the second quarter valued at approximately $244,000. Institutional investors own 62.45% of the company’s stock.
National Fuel Gas Company Profile
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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