Allspring Global Investments Holdings LLC Raises Stock Position in National Fuel Gas Company $NFG

Allspring Global Investments Holdings LLC lifted its stake in National Fuel Gas Company (NYSE:NFG) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 315,753 shares of the oil and gas producer’s stock after purchasing an additional 24,988 shares during the period. Allspring Global Investments Holdings LLC owned 0.33% of National Fuel Gas worth $25,911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Root Financial Partners LLC purchased a new position in shares of National Fuel Gas in the 3rd quarter valued at approximately $29,000. Richardson Financial Services Inc. raised its stake in National Fuel Gas by 88.5% during the third quarter. Richardson Financial Services Inc. now owns 360 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 169 shares during the last quarter. Hantz Financial Services Inc. increased 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 acquiring an additional 217 shares in the last quarter. Eastern Bank bought a new position in shares of National Fuel Gas during the fourth quarter valued at $42,000. Finally, True Wealth Design LLC raised its position in shares of National Fuel Gas by 3,883.3% in the 3rd quarter. True Wealth Design LLC now owns 478 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NFG shares. Scotiabank set a $101.00 price objective on shares of National Fuel Gas in a report on Wednesday, January 21st. Zacks Research raised National Fuel Gas from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of National Fuel Gas in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $104.00.

National Fuel Gas Stock Up 0.0%

NYSE NFG opened at $94.48 on Friday. The stock has a 50 day moving average price of $89.77 and a 200-day moving average price of $85.29. National Fuel Gas Company has a one year low of $69.93 and a one year high of $97.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.59 and a current ratio of 0.65. The company has a market capitalization of $8.98 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.23 and a beta of 0.52.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings results on Thursday, January 29th. The oil and gas producer reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.15. National Fuel Gas had a net margin of 27.65% and a return on equity of 21.45%. The company had revenue of $651.51 million for the quarter, compared to the consensus estimate of $650.70 million. During the same quarter in the prior year, the firm earned $1.66 earnings per share. National Fuel Gas’s revenue was up 18.6% on a year-over-year basis. As a group, equities analysts predict that National Fuel Gas Company will post 6.64 EPS for the current fiscal year.

National Fuel Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 31st. National Fuel Gas’s dividend payout ratio (DPR) is currently 29.85%.

National Fuel Gas Profile

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.