Daiwa Securities Group Inc. Acquires 606 Shares of National Fuel Gas (NYSE:NFG)

Daiwa Securities Group Inc. grew its stake in National Fuel Gas (NYSE:NFG) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,839 shares of the oil and gas producer’s stock after purchasing an additional 606 shares during the period. Daiwa Securities Group Inc.’s holdings in National Fuel Gas were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of NFG. HBK Sorce Advisory LLC boosted its stake in shares of National Fuel Gas by 1.0% in the 1st quarter. HBK Sorce Advisory LLC now owns 21,743 shares of the oil and gas producer’s stock valued at $1,168,000 after purchasing an additional 225 shares in the last quarter. Financial Advocates Investment Management boosted its holdings in shares of National Fuel Gas by 6.2% in the 2nd quarter. Financial Advocates Investment Management now owns 4,182 shares of the oil and gas producer’s stock worth $227,000 after acquiring an additional 243 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in National Fuel Gas by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 53,460 shares of the oil and gas producer’s stock worth $2,873,000 after acquiring an additional 244 shares during the last quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. raised its position in National Fuel Gas by 0.5% in the 1st quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 61,486 shares of the oil and gas producer’s stock valued at $3,303,000 after purchasing an additional 277 shares during the last quarter. Finally, WNY Asset Management LLC raised its position in National Fuel Gas by 0.9% in the 1st quarter. WNY Asset Management LLC now owns 33,421 shares of the oil and gas producer’s stock valued at $1,795,000 after purchasing an additional 313 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

Insider Activity

In other National Fuel Gas news, General Counsel Michael W. Reville sold 6,357 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $54.83, for a total value of $348,554.31. Following the completion of the transaction, the general counsel now directly owns 9,903 shares in the company, valued at $542,981.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NFG has been the topic of several analyst reports. Scotiabank increased their target price on National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. cut their target price on shares of National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, StockNews.com cut shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Monday, August 5th.

National Fuel Gas Price Performance

Shares of NYSE NFG opened at $60.93 on Tuesday. The company has a fifty day moving average price of $58.51 and a 200 day moving average price of $55.63. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $61.13. The firm has a market cap of $5.60 billion, a PE ratio of 12.09 and a beta of 0.62. The company has a current ratio of 0.77, a quick ratio of 0.65 and a debt-to-equity ratio of 0.85.

National Fuel Gas (NYSE:NFG) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. National Fuel Gas had a return on equity of 14.80% and a net margin of 16.42%. The business had revenue of $417.40 million for the quarter, compared to analyst estimates of $540.62 million. During the same quarter last year, the firm earned $1.01 EPS. National Fuel Gas’s revenue for the quarter was down 2.6% compared to the same quarter last year. Research analysts predict that National Fuel Gas will post 5.13 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Monday, September 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.38%. National Fuel Gas’s dividend payout ratio is 40.87%.

About National Fuel Gas

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.