New York State Teachers Retirement System Sells 19,332 Shares of National Fuel Gas Company $NFG

New York State Teachers Retirement System decreased its holdings in shares of National Fuel Gas Company (NYSE:NFG) by 18.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,564 shares of the oil and gas producer’s stock after selling 19,332 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of National Fuel Gas worth $8,228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. lifted its stake in National Fuel Gas by 458.0% in 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 period. Fairscale Capital LLC acquired a new position in shares of National Fuel Gas during the 4th quarter worth 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 bought a new stake in shares of National Fuel Gas in the 4th quarter valued at about $42,000. Finally, SHP Wealth Management acquired a new stake in shares of National Fuel Gas in the 4th quarter valued at approximately $44,000. 73.96% of the stock is owned by institutional investors.

National Fuel Gas Trading Up 1.9%

NYSE:NFG traded up $1.52 on Tuesday, reaching $79.75. The company’s stock had a trading volume of 39,085 shares, compared to its average volume of 798,317. National Fuel Gas Company has a 1-year low of $75.17 and a 1-year high of $97.06. The business’s 50-day moving average price is $79.56 and its two-hundred day moving average price is $84.53. The firm has a market cap of $7.58 billion, a PE ratio of 10.79, a PEG ratio of 1.74 and a beta of 0.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.55 and a current ratio of 0.62.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.14). National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.The business had revenue of $858.37 million for the quarter, compared to analyst estimates of $856.57 million. During the same period in the prior year, the business earned $2.39 EPS. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities research analysts anticipate that National Fuel Gas Company will post 7.58 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.555 per share. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, June 30th. This represents a $2.22 annualized dividend and a yield of 2.8%. National Fuel Gas’s dividend payout ratio is 30.04%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Zacks Research raised shares of National Fuel Gas from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. KeyCorp started coverage on shares of National Fuel Gas in a research note on Tuesday, April 7th. They issued an “overweight” rating and a $110.00 target price for the company. Finally, Weiss Ratings lowered 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, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

National Fuel Gas Company 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.