Wells Fargo & Company MN Raises Stock Holdings in National Fuel Gas (NYSE:NFG) (2024)

Wells Fargo & Company MN increased its stake in National Fuel Gas (NYSE:NFG - Free Report) by 8.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 263,689 shares of the oil and gas producer's stock after buying an additional 20,203 shares during the quarter. Wells Fargo & Company MN owned 0.29% of National Fuel Gas worth $13,229,000 at the end of the most recent quarter.

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A number of other hedge funds and other institutional investors also recently made changes to their positions in NFG. Blue Trust Inc. increased its position in National Fuel Gas by 119.8% in the fourth quarter. Blue Trust Inc. now owns 567 shares of the oil and gas producer's stock worth $29,000 after buying an additional 309 shares during the last quarter. Quent Capital LLC increased its holdings in National Fuel Gas by 166.4% in the 4th quarter. Quent Capital LLC now owns 690 shares of the oil and gas producer's stock worth $35,000 after acquiring an additional 431 shares during the last quarter. NBC Securities Inc. bought a new stake in National Fuel Gas in the 3rd quarter valued at about $95,000. ORG Partners LLC purchased a new stake in National Fuel Gas during the fourth quarter valued at about $164,000. Finally, C M Bidwell & Associates Ltd. lifted its holdings in National Fuel Gas by 28.9% during the third quarter. C M Bidwell & Associates Ltd. now owns 3,436 shares of the oil and gas producer's stock valued at $178,000 after purchasing an additional 770 shares during the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on NFG. StockNews.com raised shares of National Fuel Gas from a "sell" rating to a "hold" rating in a research report on Wednesday, March 20th. Scotiabank boosted their target price on shares of National Fuel Gas from $72.00 to $75.00 and gave the company a "sector outperform" rating in a report on Thursday, May 9th.

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National Fuel Gas Price Performance

NYSE NFG traded up $1.79 during trading hours on Friday, hitting $57.16. The company had a trading volume of 688,531 shares, compared to its average volume of 441,009. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.50 and a current ratio of 0.58. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 11.34 and a beta of 0.63. National Fuel Gas has a 52 week low of $45.32 and a 52 week high of $57.60. The firm has a 50 day simple moving average of $54.43 and a 200 day simple moving average of $51.40.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.38. The firm had revenue of $629.94 million for the quarter, compared to the consensus estimate of $767.33 million. National Fuel Gas had a net margin of 23.84% and a return on equity of 15.06%. The company's revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 earnings per share. Equities research analysts expect that National Fuel Gas will post 5.07 earnings per share for the current year.

National Fuel Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 3.46%. The ex-dividend date was Wednesday, March 27th. National Fuel Gas's payout ratio is 39.29%.

National Fuel Gas Company 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. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.

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