National Fuel Gas Co. (NFG) Stake Boosted by JPMorgan Chase & Co.
JPMorgan Chase & Co. increased its position in National Fuel Gas Co. (NYSE:NFG) by 4.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,958,110 shares of the company’s stock after buying an additional 181,812 shares during the period. JPMorgan Chase & Co. owned approximately 4.66% of National Fuel Gas worth $214,015,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of 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. River Road Asset Management LLC boosted its stake in shares of National Fuel Gas by 10.1% in the third quarter. River Road Asset Management LLC now owns 1,376,934 shares of the company’s stock worth $74,451,000 after buying an additional 126,611 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of National Fuel Gas by 9.6% in the third quarter. Bank of New York Mellon Corp now owns 1,100,583 shares of the company’s stock worth $59,508,000 after buying an additional 96,467 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of National Fuel Gas during the second quarter worth approximately $3,956,000. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of National Fuel Gas during the second quarter worth approximately $3,474,000. 64.10% of the stock is currently owned by institutional investors and hedge funds.
National Fuel Gas Co. (NYSE:NFG) opened at 56.38 on Thursday. The stock’s 50 day moving average is $53.14 and its 200 day moving average is $55.26. National Fuel Gas Co. has a one year low of $37.03 and a one year high of $59.62. The stock’s market capitalization is $4.80 billion.
National Fuel Gas (NYSE:NFG) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. National Fuel Gas had a negative net margin of 20.03% and a positive return on equity of 16.27%. The business had revenue of $292.50 million for the quarter, compared to analysts’ expectations of $355.89 million. During the same period in the previous year, the business earned $0.41 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts forecast that National Fuel Gas Co. will post $3.00 EPS for the current year.
A number of research analysts have issued reports on NFG shares. Jefferies Group upgraded shares of National Fuel Gas from a “hold” rating to a “buy” rating and upped their target price for the company from $60.00 to $67.00 in a report on Thursday, October 13th. Barclays PLC upped their target price on shares of National Fuel Gas from $47.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, August 10th. Argus restated a “hold” rating on shares of National Fuel Gas in a report on Thursday, October 13th. Finally, Zacks Investment Research lowered shares of National Fuel Gas from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. National Fuel Gas has a consensus rating of “Hold” and an average target price of $64.75.
In related news, COO John R. Pustulka sold 12,000 shares of National Fuel Gas stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $58.58, for a total transaction of $702,960.00. Following the transaction, the chief operating officer now directly owns 65,077 shares of the company’s stock, valued at $3,812,210.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Philip C. Ackerman sold 105,929 shares of National Fuel Gas stock in a transaction dated Wednesday, September 28th. The stock was 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 in the company, valued at approximately $26,320,073.85. The disclosure for this sale can be found here. Corporate insiders own 3.25% 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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