Nicholas Investment Partners LP Cuts Stake in National Fuel Gas Company $NFG

Nicholas Investment Partners LP lessened its holdings in shares of National Fuel Gas Company (NYSE:NFG) by 60.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,942 shares of the oil and gas producer’s stock after selling 18,522 shares during the period. Nicholas Investment Partners LP’s holdings in National Fuel Gas were worth $956,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NFG. Norges Bank purchased a new stake in National Fuel Gas during the 4th quarter valued at about $92,415,000. AQR Capital Management LLC grew its stake in National Fuel Gas by 103.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,138,153 shares of the oil and gas producer’s stock valued at $197,501,000 after acquiring an additional 1,087,067 shares in the last quarter. Victory Capital Management Inc. grew its stake in National Fuel Gas by 76.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,260,532 shares of the oil and gas producer’s stock valued at $100,918,000 after acquiring an additional 546,337 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in National Fuel Gas by 642.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 465,830 shares of the oil and gas producer’s stock valued at $39,460,000 after acquiring an additional 403,107 shares in the last quarter. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in National Fuel Gas during the 4th quarter valued at about $22,739,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

NYSE:NFG opened at $77.52 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.62 and a quick ratio of 0.55. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.71 and a beta of 0.37. The company’s 50-day moving average is $84.07 and its two-hundred day moving average is $85.02. National Fuel Gas Company has a 1-year low of $75.85 and a 1-year high of $97.06.

National Fuel Gas (NYSE:NFG) last posted its earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.14). The firm had revenue of $858.37 million during the quarter, compared to analyst estimates of $856.57 million. National Fuel Gas had a net margin of 27.48% and a return on equity of 20.62%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.39 earnings per share. Analysts forecast that National Fuel Gas Company will post 7.58 EPS for the current year.

National Fuel Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, June 30th. This is a positive change from National Fuel Gas’s previous quarterly dividend of $0.54. National Fuel Gas’s dividend payout ratio (DPR) is presently 28.96%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NFG shares. Weiss Ratings cut shares of National Fuel Gas from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, June 8th. KeyCorp started coverage on shares of National Fuel Gas in a research note on Tuesday, April 7th. They set an “overweight” rating and a $110.00 price objective for the company. Finally, Zacks Research raised shares of National Fuel Gas from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.00.

About National Fuel Gas

National Fuel Gas Company (NYSE: NFG) is a diversified energy company engaged primarily in the production, gathering, transmission, distribution and marketing of natural gas. The company operates through four principal segments: Exploration & Production, Pipeline & Storage, Utilities, and Energy Marketing. Its integrated asset base spans upstream development in the Appalachian Basin, regional pipeline networks, underground storage facilities, and regulated utility distribution systems.

In its Exploration & Production segment, National Fuel Gas focuses on developing natural gas reserves in the Marcellus and Utica shales, leveraging modern drilling and completion techniques.