Lazard Asset Management LLC increased its position in National Fuel Gas Company (NYSE:NFG – Free Report) by 33.2% in the 1st quarter, HoldingsChannel reports. The fund owned 76,253 shares of the oil and gas producer’s stock after purchasing an additional 18,994 shares during the period. Lazard Asset Management LLC’s holdings in National Fuel Gas were worth $7,165,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in NFG. SJS Investment Consulting Inc. increased its stake in shares of 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 worth $26,000 after purchasing an additional 229 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of National Fuel Gas in the fourth quarter valued at approximately $29,000. HM Payson & Co. purchased a new stake in shares of National Fuel Gas during the 4th quarter valued at approximately $29,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of National Fuel Gas during the 1st quarter valued at approximately $38,000. Finally, Bogart Wealth LLC boosted its holdings in National Fuel Gas by 170.2% in the 1st quarter. Bogart Wealth LLC now owns 516 shares of the oil and gas producer’s stock worth $49,000 after buying an additional 325 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting National Fuel Gas
Here are the key news stories impacting National Fuel Gas this week:
- Positive Sentiment: Quarterly earnings exceeded expectations. Fiscal third-quarter adjusted EPS was $1.54, above the $1.44-$1.47 analyst consensus, while revenue increased 1.1% year over year to $537.5 million. National Fuel Gas Q3 Earnings Surpass Estimates, Revenues Increase Y/Y
- Positive Sentiment: Cash flow and shareholder returns remained strong. Operating cash flow reached $1.035 billion during the first nine months of fiscal 2026, with $280 million in free cash flow. The board also approved a 4% dividend increase to $2.22 annually, extending NFG’s streak to 56 consecutive years of dividend growth.
- Positive Sentiment: Ohio utility acquisition remains on track. National Fuel completed financing and received final regulatory approval for the CenterPoint Energy Ohio gas utility acquisition, which is expected to close October 1, 2026. Management expects the deal to expand its regulated rate base and support long-term earnings growth.
- Positive Sentiment: Pipeline and long-term growth opportunities improved. NFG expanded its Line N pipeline project and signed a 20-year agreement for incremental firm transportation capacity. Management continues to forecast average annual EPS growth of approximately 7%-10% through 2029.
- Neutral Sentiment: Regulated utility results improved, but other operations were mixed. Utility earnings increased on higher customer margins and New York rate benefits, while Pipeline and Storage earnings were essentially flat. The upstream segment benefited from hedges and higher realized prices after hedging, partially offsetting weaker production.
- Negative Sentiment: Fiscal 2026 guidance was reduced. Adjusted EPS guidance was lowered from $7.45-$7.75 to $7.40-$7.60, reflecting expected production of 420-430 Bcf versus the prior 425-440 Bcf forecast. Third-quarter production fell 7% year over year, while lease operating, gathering and depreciation costs increased.
- Negative Sentiment: Profitability declined year over year. GAAP EPS fell to $1.45 from $1.64, and acquisition-related transaction and financing costs contributed to a $7.7 million corporate loss. Capital expenditure guidance also increased, adding to near-term spending requirements.
National Fuel Gas Stock Performance
National Fuel Gas (NYSE:NFG – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $1.54 EPS for the quarter, topping the consensus estimate of $1.44 by $0.10. The company had revenue of $537.50 million during the quarter, compared to analyst estimates of $564.33 million. National Fuel Gas had a return on equity of 19.61% and a net margin of 26.97%.National Fuel Gas’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. National Fuel Gas has set its FY 2026 guidance at 7.400-7.600 EPS. As a group, equities analysts predict that National Fuel Gas Company will post 7.66 EPS for the current fiscal year.
National Fuel Gas Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.555 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.22 dividend on an annualized basis and a yield of 2.7%. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.54. National Fuel Gas’s dividend payout ratio is presently 30.83%.
Analyst Ratings Changes
NFG has been the topic of several recent research reports. KeyCorp assumed coverage on National Fuel Gas in a research report on Tuesday, April 7th. They set an “overweight” rating and a $110.00 target price on the stock. Weiss Ratings cut National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.50.
National Fuel Gas 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.
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