National Fuel Gas (NYSE:NFG) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC grew its holdings in National Fuel Gas (NYSE:NFG) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,533,482 shares of the oil and gas producer’s stock after acquiring an additional 24,800 shares during the quarter. National Fuel Gas accounts for approximately 1.0% of Gabelli Funds LLC’s investment portfolio, making the stock its 9th biggest position. Gabelli Funds LLC owned about 2.76% of National Fuel Gas worth $137,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. BNP Paribas Financial Markets raised its stake in National Fuel Gas by 30.7% in the fourth quarter. BNP Paribas Financial Markets now owns 14,955 shares of the oil and gas producer’s stock valued at $750,000 after purchasing an additional 3,515 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of National Fuel Gas by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 882,737 shares of the oil and gas producer’s stock worth $44,287,000 after acquiring an additional 31,530 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in National Fuel Gas by 24.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,487 shares of the oil and gas producer’s stock valued at $1,380,000 after acquiring an additional 5,431 shares during the last quarter. Norges Bank acquired a new position in National Fuel Gas during the fourth quarter valued at approximately $49,804,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in National Fuel Gas during the fourth quarter worth $440,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

National Fuel Gas Stock Down 0.1 %

Shares of NYSE:NFG opened at $60.30 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.77 and a quick ratio of 0.65. National Fuel Gas has a 1 year low of $45.32 and a 1 year high of $61.42. The business’s 50-day moving average is $58.92 and its 200-day moving average is $55.89. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 11.96 and a beta of 0.62.

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

National Fuel Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.515 per share. The ex-dividend date is Monday, September 30th. This represents a $2.06 annualized dividend and a dividend yield of 3.42%. National Fuel Gas’s payout ratio is 40.87%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NFG shares. JPMorgan Chase & Co. dropped their price target on National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Scotiabank lifted their price target 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. Finally, StockNews.com downgraded National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

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.