Norges Bank Takes $92.42 Million Position in National Fuel Gas Company $NFG

Norges Bank acquired a new stake in shares of National Fuel Gas Company (NYSE:NFG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,154,321 shares of the oil and gas producer’s stock, valued at approximately $92,415,000. Norges Bank owned about 1.21% of National Fuel Gas as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. raised its holdings in shares of National Fuel Gas by 105.3% during the third quarter. Hantz Financial Services Inc. now owns 423 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 217 shares during the last quarter. Eastern Bank purchased a new stake in National Fuel Gas during the fourth quarter valued at approximately $42,000. Torren Management LLC purchased a new stake in National Fuel Gas during the fourth quarter valued at approximately $49,000. EverSource Wealth Advisors LLC increased its holdings in National Fuel Gas by 88.1% during the second quarter. EverSource Wealth Advisors LLC now owns 916 shares of the oil and gas producer’s stock valued at $78,000 after buying an additional 429 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in National Fuel Gas by 184.8% during the third quarter. Clearstead Advisors LLC now owns 860 shares of the oil and gas producer’s stock valued at $79,000 after buying an additional 558 shares during the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on NFG. KeyCorp began coverage on shares of National Fuel Gas in a report on Tuesday, April 7th. They set an “overweight” rating and a $110.00 target price for the company. Weiss Ratings raised shares of National Fuel Gas from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, May 22nd. Finally, Zacks Research raised shares of National Fuel Gas from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, National Fuel Gas presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

National Fuel Gas Stock Performance

NFG opened at $77.46 on Friday. The firm has a market cap of $7.36 billion, a P/E ratio of 10.48, a PEG ratio of 1.70 and a beta of 0.37. National Fuel Gas Company has a 1-year low of $75.85 and a 1-year high of $97.06. The company has a 50 day simple moving average of $85.81 and a two-hundred day simple moving average of $85.14. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.62 and a quick ratio of 0.55.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.14). The firm had revenue of $858.37 million during the quarter, compared to the consensus estimate of $856.57 million. National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.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 company earned $2.39 earnings per share. Equities analysts forecast that National Fuel Gas Company will post 7.59 earnings per share for the current fiscal year.

National Fuel Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, March 31st. National Fuel Gas’s dividend payout ratio is presently 28.96%.

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.