National Fuel Gas (NYSE:NFG) Shares Bought by California Public Employees Retirement System

Posted by Defense World Staff on May 15th, 2023

California Public Employees Retirement System grew its stake in National Fuel Gas (NYSE:NFG – Get Rating) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 210,873 shares of the oil and gas producer’s stock after buying an additional 4,392 shares during the quarter. California Public Employees Retirement System owned 0.23% of National Fuel Gas worth $13,348,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NFG. Cookson Peirce & Co. Inc. lifted its stake in shares of National Fuel Gas by 17.4% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 11,249 shares of the oil and gas producer’s stock valued at $712,000 after purchasing an additional 1,670 shares during the period. Exchange Traded Concepts LLC grew its position in National Fuel Gas by 2.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,028 shares of the oil and gas producer’s stock valued at $571,000 after buying an additional 245 shares during the period. Teacher Retirement System of Texas grew its position in National Fuel Gas by 210.0% during the third quarter. Teacher Retirement System of Texas now owns 43,935 shares of the oil and gas producer’s stock valued at $2,704,000 after buying an additional 29,763 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in National Fuel Gas by 109.5% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,004 shares of the oil and gas producer’s stock valued at $2,401,000 after purchasing an additional 20,386 shares during the period. Finally, South Dakota Investment Council grew its holdings in National Fuel Gas by 49.2% in the third quarter. South Dakota Investment Council now owns 19,401 shares of the oil and gas producer’s stock valued at $1,194,000 after purchasing an additional 6,401 shares during the period. 72.25% of the stock is currently owned by hedge funds and other institutional investors.

National Fuel Gas Stock Performance

Shares of NFG stock opened at $51.67 on Monday. The stock has a market capitalization of $4.74 billion, a PE ratio of 8.27, a price-to-earnings-growth ratio of 1.07 and a beta of 0.67. National Fuel Gas has a 52-week low of $51.20 and a 52-week high of $75.97. The stock’s 50-day moving average price is $55.64 and its 200 day moving average price is $59.60. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 0.72.

National Fuel Gas (NYSE:NFG – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The oil and gas producer reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $717.26 million during the quarter, compared to analyst estimates of $697.11 million. During the same period in the prior year, the firm posted $1.68 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that National Fuel Gas will post 5.23 EPS for the current year.

National Fuel Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Thursday, March 30th. National Fuel Gas’s dividend payout ratio (DPR) is presently 30.40%.

Analyst Ratings Changes

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

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.