BB&T Corp Raises Stake in National Fuel Gas Co. (NFG)
BB&T Corp lifted its holdings in shares of National Fuel Gas Co. (NYSE:NFG) by 22.0% during the 4th quarter, HoldingsChannel reports. The firm owned 31,074 shares of the oil and gas producer’s stock after buying an additional 5,613 shares during the period. BB&T Corp’s holdings in National Fuel Gas were worth $1,706,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of NFG. MHI Funds LLC acquired a new stake in shares of National Fuel Gas during the fourth quarter worth about $113,000. Cable Hill Partners LLC acquired a new stake in shares of National Fuel Gas during the third quarter worth about $119,000. San Francisco Sentry Investment Group CA acquired a new stake in shares of National Fuel Gas during the second quarter worth about $168,000. Oakbrook Investments LLC acquired a new stake in shares of National Fuel Gas during the third quarter worth about $201,000. Finally, IFC Holdings Incorporated FL acquired a new stake in shares of National Fuel Gas during the third quarter worth about $206,000. 71.39% of the stock is currently owned by institutional investors and hedge funds.
NFG has been the topic of several research reports. Sidoti raised shares of National Fuel Gas from a “neutral” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, January 2nd. Jefferies Group restated a “hold” rating and set a $58.00 target price on shares of National Fuel Gas in a research note on Wednesday, December 20th. Scotiabank set a $61.00 target price on shares of National Fuel Gas and gave the stock a “hold” rating in a research note on Saturday, November 25th. Zacks Investment Research upgraded shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. Finally, TheStreet lowered shares of National Fuel Gas from a “b-” rating to a “c” rating in a research note on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $62.67.
National Fuel Gas (NYSE:NFG) last released its earnings results on Thursday, February 1st. The oil and gas producer reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.21. The firm had revenue of $419.66 million for the quarter, compared to analyst estimates of $453.61 million. National Fuel Gas had a net margin of 24.93% and a return on equity of 16.80%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. analysts predict that National Fuel Gas Co. will post 3.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were paid a $0.415 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.66 annualized dividend and a yield of 3.32%. National Fuel Gas’s dividend payout ratio is currently 36.40%.
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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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