Icon Advisers Inc. Co. Lowers Stake in National Fuel Gas Company $NFG

Icon Advisers Inc. Co. lessened its stake in shares of National Fuel Gas Company (NYSE:NFG) by 24.0% during the 1st quarter, according to its most recent 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 makes up about 1.5% of Icon Advisers Inc. Co.’s portfolio, making the stock its 11th biggest position. Icon Advisers Inc. Co. owned approximately 0.07% of National Fuel Gas worth $6,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SJS Investment Consulting Inc. lifted its stake in shares of National Fuel Gas by 458.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 229 shares during the last quarter. Fairscale Capital LLC bought a new stake in National Fuel Gas during the fourth quarter valued at about $29,000. HM Payson & Co. purchased a new position in National Fuel Gas in the fourth quarter valued at about $29,000. Cassaday & Co Wealth Management LLC purchased a new position in National Fuel Gas in the first quarter valued at about $38,000. Finally, Bogart Wealth LLC raised its holdings in National Fuel Gas by 170.2% in the first quarter. Bogart Wealth LLC now owns 516 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 325 shares in the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings lowered shares of National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. KeyCorp assumed coverage on shares of National Fuel Gas in a research report on Tuesday, April 7th. They issued an “overweight” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.50.

National Fuel Gas Stock Performance

Shares of NFG stock opened at $82.93 on Thursday. National Fuel Gas Company has a 12-month low of $75.17 and a 12-month high of $97.06. The business’s fifty day simple moving average is $78.82 and its 200-day simple moving average is $84.45. The company has a current ratio of 0.62, a quick ratio of 0.55 and a debt-to-equity ratio of 0.55. The company has a market cap of $7.88 billion, a PE ratio of 11.22, a PEG ratio of 1.76 and a beta of 0.37.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings data 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). National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.The business had revenue of $858.37 million during the quarter, compared to analyst estimates of $856.57 million. During the same period in the previous year, the business earned $2.39 EPS. The firm’s revenue for the quarter was up 17.6% compared to the same quarter last year. Analysts expect that National Fuel Gas Company will post 7.66 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

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

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.