Arizona State Retirement System Acquires 911 Shares of National Fuel Gas (NYSE:NFG)

Posted by Defense World Staff on May 12th, 2023

Arizona State Retirement System lifted its holdings in shares of National Fuel Gas (NYSE:NFG – Get Rating) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,521 shares of the oil and gas producer’s stock after purchasing an additional 911 shares during the period. Arizona State Retirement System’s holdings in National Fuel Gas were worth $1,552,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of National Fuel Gas by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 11,771,775 shares of the oil and gas producer’s stock worth $724,553,000 after purchasing an additional 892,065 shares during the period. State Street Corp increased its holdings in National Fuel Gas by 20.7% in the 1st quarter. State Street Corp now owns 7,298,076 shares of the oil and gas producer’s stock worth $504,599,000 after acquiring an additional 1,252,192 shares during the last quarter. Energy Income Partners LLC increased its holdings in National Fuel Gas by 14.5% in the 3rd quarter. Energy Income Partners LLC now owns 1,049,384 shares of the oil and gas producer’s stock worth $64,590,000 after acquiring an additional 132,670 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in National Fuel Gas by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 936,881 shares of the oil and gas producer’s stock worth $64,364,000 after acquiring an additional 27,088 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in National Fuel Gas by 3.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 830,380 shares of the oil and gas producer’s stock worth $51,111,000 after acquiring an additional 27,345 shares during the last quarter. 72.25% of the stock is currently owned by institutional investors.

National Fuel Gas Stock Down 3.0 %

NFG stock opened at $51.72 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $4.75 billion, a PE ratio of 8.28, a PEG ratio of 1.07 and a beta of 0.67. National Fuel Gas has a twelve month low of $51.65 and a twelve month high of $75.97. The stock has a 50-day simple moving average of $55.78 and a two-hundred day simple moving average of $59.78.

National Fuel Gas (NYSE:NFG – Get Rating) last posted its earnings results on Wednesday, May 3rd. The oil and gas producer reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.01). National Fuel Gas had a net margin of 24.93% and a return on equity of 23.69%. The company had revenue of $717.26 million for the quarter, compared to analysts’ expectations of $697.11 million. During the same period in the previous year, the firm earned $1.68 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts predict that National Fuel Gas will post 5.23 EPS for the current fiscal year.

National Fuel Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Thursday, March 30th. National Fuel Gas’s payout ratio is 30.40%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Scotiabank lowered National Fuel Gas from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $91.00 to $85.00 in a report on Tuesday, January 17th. Raymond James lowered National Fuel Gas from an “outperform” rating to a “market perform” rating in a report on Monday, February 6th. Finally, StockNews.com began coverage on National Fuel Gas in a report on Thursday, March 16th. They issued a “hold” rating for the company.

National Fuel Gas Profile

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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.