Massachusetts Financial Services Co. MA Sells 7,527 Shares of National Fuel Gas Company $NFG

Massachusetts Financial Services Co. MA decreased its holdings in National Fuel Gas Company (NYSE:NFG) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 296,285 shares of the oil and gas producer’s stock after selling 7,527 shares during the period. Massachusetts Financial Services Co. MA’s holdings in National Fuel Gas were worth $23,721,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NFG. Root Financial Partners LLC bought a new stake in shares of National Fuel Gas in the third quarter worth $29,000. Richardson Financial Services Inc. grew its stake in shares of National Fuel Gas by 88.5% in the third quarter. Richardson Financial Services Inc. now owns 360 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 169 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of National Fuel Gas by 105.3% in the third quarter. Hantz Financial Services Inc. now owns 423 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 217 shares during the last quarter. Eastern Bank bought a new stake in shares of National Fuel Gas in the fourth quarter worth $42,000. Finally, True Wealth Design LLC grew its stake in shares of National Fuel Gas by 3,883.3% in the third quarter. True Wealth Design LLC now owns 478 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 466 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NFG shares. 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. Scotiabank set a $101.00 price objective on shares of National Fuel Gas in a research note on Wednesday, January 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of National Fuel Gas in a research note on Monday, December 29th. Finally, KeyCorp began coverage on shares of National Fuel Gas in a report on Tuesday, April 7th. They issued an “overweight” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, National Fuel Gas presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

National Fuel Gas Price Performance

NFG stock opened at $89.53 on Thursday. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.17 and a beta of 0.52. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.58. National Fuel Gas Company has a 12-month low of $75.73 and a 12-month high of $97.06. The company’s fifty day simple moving average is $91.34 and its 200 day simple moving average is $85.48.

National Fuel Gas (NYSE:NFG) last released its earnings results on Thursday, January 29th. The oil and gas producer reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.15. The business had revenue of $651.51 million for the quarter, compared to analyst estimates of $650.70 million. National Fuel Gas had a net margin of 27.65% and a return on equity of 21.45%. National Fuel Gas’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 earnings per share. On average, analysts expect that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.535 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.14 annualized dividend and a dividend yield of 2.4%. National Fuel Gas’s dividend payout ratio is currently 29.85%.

About National Fuel Gas

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.