M&T Bank Corp Cuts Stake in National Fuel Gas Company (NFG)
M&T Bank Corp lowered its holdings in National Fuel Gas Company (NYSE:NFG) by 14.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,671 shares of the oil and gas producer’s stock after selling 2,923 shares during the quarter. M&T Bank Corp’s holdings in National Fuel Gas were worth $987,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in National Fuel Gas by 4,550.5% during the first quarter. BlackRock Inc. now owns 7,105,090 shares of the oil and gas producer’s stock valued at $423,608,000 after acquiring an additional 6,952,310 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 valued at $477,307,000 after acquiring an additional 742,945 shares during the period. State Street Corp lifted its holdings in National Fuel Gas by 11.2% in the first quarter. State Street Corp now owns 5,740,111 shares of the oil and gas producer’s stock valued at $342,227,000 after acquiring an additional 575,876 shares during the period. JPMorgan Chase & Co. lifted its holdings in National Fuel Gas by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 4,204,469 shares of the oil and gas producer’s stock valued at $234,778,000 after acquiring an additional 222,965 shares during the period. Finally, Aristotle Capital Management LLC boosted its position in National Fuel Gas by 4.6% in the 1st quarter. Aristotle Capital Management LLC now owns 3,195,059 shares of the oil and gas producer’s stock worth $190,490,000 after purchasing an additional 140,984 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.
Shares of National Fuel Gas Company (NYSE:NFG) opened at 57.38 on Tuesday. National Fuel Gas Company has a 52-week low of $50.61 and a 52-week high of $61.25. The stock’s 50 day moving average price is $57.94 and its 200-day moving average price is $57.34. The firm has a market capitalization of $4.91 billion, a PE ratio of 17.87 and a beta of 0.95.
National Fuel Gas (NYSE:NFG) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. The business had revenue of $348.37 million for the quarter, compared to analyst estimates of $373.86 million. National Fuel Gas had a net margin of 17.38% and a return on equity of 18.31%. During the same period in the previous year, the business posted $0.68 earnings per share. Equities research analysts anticipate that National Fuel Gas Company will post $3.32 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.415 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.66 dividend on an annualized basis and a yield of 2.89%. National Fuel Gas’s payout ratio is currently 51.71%.
A number of equities research analysts have recently commented on NFG shares. Scotiabank set a $58.00 price objective on shares of National Fuel Gas and gave the stock a “hold” rating in a research note on Saturday, July 1st. BidaskClub cut shares of National Fuel Gas from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $52.00 target price on shares of National Fuel Gas in a research note on Friday, July 14th. Finally, TheStreet raised shares of National Fuel Gas from a “c+” rating to a “b” rating in a report on Friday, June 16th. Six investment analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus price target of $59.67.
National Fuel Gas Profile
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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