National Fuel Gas Company (NYSE:NFG) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its holdings in shares of National Fuel Gas Company (NYSE:NFG) by 9.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,792 shares of the oil and gas producer’s stock after selling 780 shares during the period. M&T Bank Corp’s holdings in National Fuel Gas were worth $617,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Inlight Wealth Management LLC purchased a new stake in shares of National Fuel Gas during the 1st quarter worth approximately $40,000. Cranbrook Wealth Management LLC purchased a new position in shares of National Fuel Gas during the 1st quarter worth $40,000. Quarry LP purchased a new position in shares of National Fuel Gas during the 4th quarter worth $32,000. Ameriflex Group Inc. purchased a new position in shares of National Fuel Gas during the 4th quarter worth $36,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of National Fuel Gas by 223.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 656 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 453 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

NYSE:NFG opened at $88.86 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.43 and a current ratio of 0.47. The firm’s 50-day moving average is $83.01 and its 200-day moving average is $76.53. National Fuel Gas Company has a 52-week low of $56.29 and a 52-week high of $89.82. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 206.66, a PEG ratio of 0.54 and a beta of 0.62.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.21. National Fuel Gas had a net margin of 1.91% and a return on equity of 18.55%. The business had revenue of $729.95 million during the quarter, compared to the consensus estimate of $770.81 million. During the same period in the previous year, the firm posted $1.79 earnings per share. National Fuel Gas’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.535 per share. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.14 annualized dividend and a dividend yield of 2.41%. National Fuel Gas’s dividend payout ratio is currently 497.67%.

Analyst Ratings Changes

A number of brokerages have weighed in on NFG. Bank of America raised National Fuel Gas from an “underperform” rating to a “buy” rating and increased their price target for the stock from $85.00 to $107.00 in a research note on Tuesday. Wall Street Zen lowered National Fuel Gas from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Scotiabank increased their target price on National Fuel Gas from $88.00 to $98.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, National Fuel Gas currently has a consensus rating of “Moderate Buy” and an average target price of $95.33.

National Fuel Gas Profile

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.