CI Investments Inc. lifted its position in shares of National Fuel Gas (NYSE:NFG – Get Rating) by 120.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,767 shares of the oil and gas producer’s stock after buying an additional 1,514 shares during the quarter. CI Investments Inc.’s holdings in National Fuel Gas were worth $175,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in National Fuel Gas by 4.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 275,194 shares of the oil and gas producer’s stock valued at $17,420,000 after acquiring an additional 12,297 shares during the last quarter. Cookson Peirce & Co. Inc. increased its holdings in 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 acquiring an additional 1,670 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in National Fuel Gas by 2.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,028 shares of the oil and gas producer’s stock valued at $571,000 after acquiring an additional 245 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in National Fuel Gas by 210.0% in the 3rd 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 acquiring an additional 29,763 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in National Fuel Gas by 109.5% in the 3rd 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 acquiring an additional 20,386 shares during the last quarter. Hedge funds and other institutional investors own 72.25% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on NFG. The Goldman Sachs Group reduced their price target on shares of National Fuel Gas from $60.00 to $54.00 in a report on Wednesday. StockNews.com began coverage on shares of National Fuel Gas in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Raymond James downgraded shares of National Fuel Gas from an “outperform” rating to a “market perform” rating in a report on Monday, February 6th. Finally, Argus reduced their target price on shares of National Fuel Gas from $76.00 to $58.00 in a report on Wednesday.
National Fuel Gas Stock Performance
National Fuel Gas (NYSE:NFG – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported $1.54 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.01). The firm had revenue of $717.26 million for the quarter, compared to the consensus estimate of $697.11 million. National Fuel Gas had a net margin of 24.93% and a return on equity of 23.69%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 earnings per share. On average, equities research analysts forecast that National Fuel Gas will post 5.2 EPS for the current fiscal year.
National Fuel Gas Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $1.90 annualized dividend and a yield of 3.69%. National Fuel Gas’s payout ratio is 30.40%.
National Fuel Gas Company Profile
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.
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