National Fuel Gas Company (NFG) Shares Sold by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. trimmed its holdings in National Fuel Gas Company (NYSE:NFG) by 58.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,200 shares of the oil and gas producer’s stock after selling 81,200 shares during the quarter. Icon Advisers Inc. Co. owned about 0.07% of National Fuel Gas worth $3,194,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in NFG. Vanguard Group Inc. increased its position in National Fuel Gas by 10.2% in the first quarter. Vanguard Group Inc. now owns 8,005,822 shares of the oil and gas producer’s stock worth $477,307,000 after purchasing an additional 742,945 shares during the period. BlackRock Inc. grew its position in shares of National Fuel Gas by 4,550.5% during the 1st quarter. BlackRock Inc. now owns 7,105,090 shares of the oil and gas producer’s stock worth $423,608,000 after buying an additional 6,952,310 shares during the period. State Street Corp grew its position in shares of National Fuel Gas by 11.2% during the 1st quarter. State Street Corp now owns 5,740,111 shares of the oil and gas producer’s stock worth $342,227,000 after buying an additional 575,876 shares during the period. JPMorgan Chase & Co. grew its position in shares of National Fuel Gas by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,204,469 shares of the oil and gas producer’s stock worth $234,778,000 after buying an additional 222,965 shares during the period. Finally, Gabelli Funds LLC grew its position in shares of National Fuel Gas by 1.0% during the 2nd quarter. Gabelli Funds LLC now owns 3,371,799 shares of the oil and gas producer’s stock worth $188,281,000 after buying an additional 34,000 shares during the period. 71.79% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on NFG. BidaskClub upgraded National Fuel Gas from a “hold” rating to a “buy” rating in a research report on Monday, June 19th. Jefferies Group LLC restated a “hold” rating and issued a $54.00 target price (up previously from $52.00) on shares of National Fuel Gas in a research note on Friday, September 1st. Scotiabank set a $60.00 target price on National Fuel Gas and gave the company a “hold” rating in a research note on Tuesday, August 22nd. TheStreet upgraded National Fuel Gas from a “c+” rating to a “b” rating in a research note on Friday, June 16th. Finally, ValuEngine cut National Fuel Gas from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Six research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $59.67.
Shares of National Fuel Gas Company (NYSE NFG) opened at 59.74 on Friday. The stock’s 50 day moving average price is $58.45 and its 200 day moving average price is $57.64. National Fuel Gas Company has a 12-month low of $50.61 and a 12-month high of $61.25. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 18.60 and a beta of 0.98.
National Fuel Gas (NYSE:NFG) last posted its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.69 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.69. National Fuel Gas had a return on equity of 18.31% and a net margin of 17.38%. The business had revenue of $348.37 million during the quarter, compared to analysts’ expectations of $373.86 million. During the same period in the previous year, the business earned $0.68 earnings per share. Equities research analysts expect that National Fuel Gas Company will post $3.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, September 28th. National Fuel Gas’s payout ratio is currently 51.71%.
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About National Fuel Gas
National Fuel Gas Company is a holding company. The Company is an energy company engaged principally in the production, gathering, transportation, distribution and marketing of natural gas. The Company operates in five business segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing.
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