Icon Advisers Inc. Co. Reduces Position in National Fuel Gas Company $NFG

Icon Advisers Inc. Co. decreased its stake in shares of National Fuel Gas Company (NYSE:NFG) by 24.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,028 shares of the oil and gas producer’s stock after selling 22,140 shares during the quarter. National Fuel Gas comprises 1.5% of Icon Advisers Inc. Co.’s holdings, making the stock its 11th biggest position. Icon Advisers Inc. Co.’s holdings in National Fuel Gas were worth $6,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in NFG. Measured Wealth Private Client Group LLC lifted its stake in shares of National Fuel Gas by 4.4% during the first quarter. Measured Wealth Private Client Group LLC now owns 13,529 shares of the oil and gas producer’s stock worth $1,271,000 after buying an additional 575 shares during the period. First Trust Advisors LP increased its position in shares of National Fuel Gas by 35.7% in the 1st quarter. First Trust Advisors LP now owns 1,072,487 shares of the oil and gas producer’s stock valued at $100,771,000 after acquiring an additional 282,071 shares during the period. Chase Investment Counsel Corp increased its position in shares of National Fuel Gas by 7.1% in the 1st quarter. Chase Investment Counsel Corp now owns 77,935 shares of the oil and gas producer’s stock valued at $7,322,000 after acquiring an additional 5,158 shares during the period. PNC Financial Services Group Inc. raised its stake in National Fuel Gas by 2.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 41,136 shares of the oil and gas producer’s stock worth $3,865,000 after acquiring an additional 847 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in National Fuel Gas in the 1st quarter worth $38,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NFG. Weiss Ratings cut National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. KeyCorp started coverage on National Fuel Gas in a report on Tuesday, April 7th. They issued an “overweight” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.50.

National Fuel Gas Stock Performance

NFG opened at $82.93 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.55 and a debt-to-equity ratio of 0.55. National Fuel Gas Company has a 12-month low of $75.17 and a 12-month high of $97.06. The firm has a 50 day moving average of $78.82 and a two-hundred day moving average of $84.45. The firm has a market capitalization of $7.88 billion, a PE ratio of 11.22, a P/E/G ratio of 1.76 and a beta of 0.37.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Thursday, April 30th. The oil and gas producer reported $2.71 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.14). The business had revenue of $858.37 million during the quarter, compared to analysts’ expectations of $856.57 million. National Fuel Gas had a net margin of 27.48% and a return on equity of 20.62%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the company earned $2.39 earnings per share. On average, analysts anticipate that National Fuel Gas Company will post 7.66 EPS for the current year.

National Fuel Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.555 per share. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.54. This represents a $2.22 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, June 30th. National Fuel Gas’s payout ratio is presently 30.04%.

National Fuel Gas Profile

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.