Federated Hermes Inc. lowered its position in National Fuel Gas (NYSE:NFG – Get Rating) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,132 shares of the oil and gas producer’s stock after selling 1,228 shares during the period. Federated Hermes Inc.’s holdings in National Fuel Gas were worth $1,054,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. FinTrust Capital Advisors LLC bought a new stake in shares of National Fuel Gas during the 3rd quarter valued at $26,000. Adirondack Trust Co. bought a new position in National Fuel Gas during the 3rd quarter worth about $29,000. Harvest Fund Management Co. Ltd bought a new position in National Fuel Gas during the 2nd quarter worth about $40,000. Sentry Investment Management LLC bought a new position in National Fuel Gas during the 3rd quarter worth about $41,000. Finally, Bessemer Group Inc. increased its holdings in National Fuel Gas by 566.9% during the 3rd quarter. Bessemer Group Inc. now owns 927 shares of the oil and gas producer’s stock worth $57,000 after purchasing an additional 788 shares in the last quarter. Institutional investors own 72.25% of the company’s stock.
Wall Street Analyst Weigh In
NFG has been the subject of a number of research reports. Scotiabank cut National Fuel Gas from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $91.00 to $85.00 in a report on Tuesday, January 17th. Raymond James downgraded shares of National Fuel Gas from an “outperform” rating to a “market perform” rating in a research note on Monday, February 6th.
National Fuel Gas Trading Up 0.1 %
National Fuel Gas (NYSE:NFG – Get Rating) last issued its earnings results on Friday, February 3rd. The oil and gas producer reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.19. National Fuel Gas had a net margin of 26.25% and a return on equity of 27.11%. The business had revenue of $658.86 million during the quarter, compared to the consensus estimate of $600.10 million. During the same period last year, the business posted $1.48 EPS. Sell-side analysts forecast that National Fuel Gas will post 5.45 earnings per share for the current year.
National Fuel Gas Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be paid a $0.475 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.90 annualized dividend and a yield of 3.43%. National Fuel Gas’s dividend payout ratio (DPR) is currently 29.05%.
National Fuel Gas Company Profile
National Fuel Gas Co is a holding company, which engages in the production, gathering, transportation, storage, and distribution of natural gas. It operates through the following segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment seeks to discover and produce raw materials.
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