Louisiana State Employees Retirement System Has $1.38 Million Stock Holdings in National Fuel Gas (NYSE:NFG)

Posted by on Oct 4th, 2023

Louisiana State Employees Retirement System grew its stake in shares of National Fuel Gas (NYSE:NFG – Free Report) by 9.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,800 shares of the oil and gas producer’s stock after buying an additional 2,400 shares during the period. Louisiana State Employees Retirement System’s holdings in National Fuel Gas were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of NFG. Principal Financial Group Inc. boosted its stake in shares of National Fuel Gas by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 362,979 shares of the oil and gas producer’s stock worth $20,958,000 after acquiring an additional 4,361 shares during the period. Janney Montgomery Scott LLC boosted its stake in National Fuel Gas by 22.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 24,939 shares of the oil and gas producer’s stock valued at $1,440,000 after purchasing an additional 4,625 shares during the period. Community Bank N.A. lifted its position in shares of National Fuel Gas by 31.8% during the 1st quarter. Community Bank N.A. now owns 4,976 shares of the oil and gas producer’s stock valued at $287,000 after acquiring an additional 1,200 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of National Fuel Gas by 46.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,183 shares of the oil and gas producer’s stock valued at $415,000 after acquiring an additional 2,266 shares during the period. Finally, Foundry Partners LLC lifted its position in shares of National Fuel Gas by 5.5% during the 1st quarter. Foundry Partners LLC now owns 134,778 shares of the oil and gas producer’s stock valued at $7,782,000 after acquiring an additional 7,051 shares during the period. Institutional investors own 73.70% of the company’s stock.

National Fuel Gas Price Performance

National Fuel Gas stock opened at $50.85 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.52 and a current ratio of 0.61. National Fuel Gas has a 52 week low of $48.89 and a 52 week high of $68.22. The stock has a market capitalization of $4.67 billion, a P/E ratio of 8.36, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The stock has a fifty day moving average of $53.03 and a 200-day moving average of $53.12.

National Fuel Gas (NYSE:NFG – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The oil and gas producer reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. National Fuel Gas had a return on equity of 19.71% and a net margin of 25.06%. The business had revenue of $428.70 million during the quarter, compared to analysts’ expectations of $480.10 million. On average, sell-side analysts expect that National Fuel Gas will post 5.3 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.495 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.98 dividend on an annualized basis and a yield of 3.89%. National Fuel Gas’s payout ratio is presently 32.57%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com downgraded National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Bank of America boosted their price target on National Fuel Gas from $59.00 to $61.00 in a report on Wednesday, September 27th. Finally, Scotiabank raised National Fuel Gas from a “sector perform” rating to a “sector outperform” rating and set a $68.00 price target for the company in a report on Wednesday, September 13th.

Check Out Our Latest Stock Report on NFG

National Fuel Gas Profile

(Free Report)

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil in California and in the Appalachian region of the United States.

Further Reading

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Institutional Ownership by Quarter for National Fuel Gas (NYSE:NFG)

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