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

Allspring Global Investments Holdings LLC raised its holdings in shares of National Fuel Gas Company (NYSE:NFG) by 17.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 372,355 shares of the oil and gas producer’s stock after acquiring an additional 56,602 shares during the period. Allspring Global Investments Holdings LLC owned about 0.39% of National Fuel Gas worth $34,581,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NFG. SJS Investment Consulting Inc. grew its stake in shares of National Fuel Gas by 458.0% during the first quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 229 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of National Fuel Gas in the 4th quarter valued at about $29,000. HM Payson & Co. bought a new stake in shares of National Fuel Gas in the 4th quarter valued at about $29,000. Eastern Bank purchased a new stake in National Fuel Gas during the 4th quarter valued at about $42,000. Finally, SHP Wealth Management purchased a new stake in National Fuel Gas during the 4th quarter valued at about $44,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on NFG shares. KeyCorp started coverage on National Fuel Gas in a research report on Tuesday, April 7th. They issued an “overweight” rating and a $110.00 price objective for the company. Weiss Ratings cut shares of National Fuel Gas from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.50.

National Fuel Gas Stock Down 0.0%

Shares of National Fuel Gas stock opened at $80.90 on Monday. 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’s fifty day simple moving average is $78.73 and its two-hundred day simple moving average is $84.43. The company has a market cap of $7.69 billion, a P/E ratio of 10.95, a PEG ratio of 1.76 and a beta of 0.37. National Fuel Gas Company has a 12-month low of $75.17 and a 12-month high of $97.06.

National Fuel Gas (NYSE:NFG) last posted its earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.14). The company had revenue of $858.37 million during the quarter, compared to analysts’ expectations of $856.57 million. National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.39 earnings per share. Research analysts anticipate that National Fuel Gas Company will post 7.66 EPS for the current year.

National Fuel Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.555 per share. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.54. This represents a $2.22 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, June 30th. National Fuel Gas’s payout ratio is 30.04%.

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.