7. AFFORDABLE AND CLEAN ENERGY

JPMorgan Chase & Co. Trims Holdings in National Fuel Gas by 0.8% in Q4

Written by Amanda

JPMorgan Chase & Co. trims holdings in National Fuel Gas by 0.8% in Q4

National Fuel Gas Co remains one of the most prominent holding companies in the United States that engages in the production, gathering, transportation, storage, and distribution of natural gas. Despite this, financial institution JPMorgan Chase & Co. has decided to reduce its position in National Fuel Gas by 0.8% during the last quarter.

According to recent disclosures with the Securities & Exchange Commission, at the end of Q4 2020, JPMorgan’s fund owned 2,581,839 shares of National Fuel Gas’ stock after selling 21,016 shares during the trading period. At present estimates suggest that JPMorgan’s once-diverse portfolio price on these holdings stood at $163,430,000.

Last May 3rd, National Fuel Gas released their earnings report for Q1 showcasing its consistently healthy finances but failed to meet analysts’ expectations based on earnings per share (EPS) consensus estimate particularized at $1.55; down a mere cent to $1.54. For revenue sales, it exceeded market expectations by accumulating $717.26 million compared to an estimated $697.11 million – showing a 2% year-on-year growth rate from Q1.

With National Fuel Gas running various subsidiaries under four business units such as Exploration and Production (E&P), Pipeline and Storage (P&S), Gathering (GATH), and Utility servicing North-America-wide consumers dated back since mid-1800s; it is well-established despite going through several changes throughout its business history.

The E&P’s role is to search for hydro-carbon deposits while extracting crude oil and concomitant flammable gases such as LNG or LPG via wellheads under various land ownership agreements within borders situated near Pennsylvania or California shale formations.

Both P&S operate pipelines connected with US-based interconnected infrastructures for petroleum products to both consumers and organizations nationwide. Meanwhile, GATH covers subsidiaries that focus primarily on storage and transportation in Western parts of New York and Pennsylvania.

As the current fiscal year wraps up, financial experts envisage National Fuel Gas’ earnings per share of 5.2 due to maintaining consistently sound finances throughout their business lifetime.

Despite JPMorgan’s decision to reduce its holdings in National Fuel Gas, the holding company’s ongoing ventures continue noticeably growing, ensuring gas consumption in areas covered under its operational jurisdictions meets steady demand. The company continually seeks ways to augment services with technological advances becoming more prominent during this period.

NFG

Strong Buy

Updated on: 05/06/2023

Price Target

Current $51.93

Concensus $76.00


Low $76.00

Median $76.00

High $76.00

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Social Sentiments

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Analyst Ratings

Analyst / firm Rating
Raymond James Buy

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Hedge Funds and Institutional Investors Compete for a Stake in National Fuel Gas Co’s Stock


National Fuel Gas Co, a holding company engaged in the production, gathering, transportation, storage and distribution of natural gas, has seen a flurry of hedge funds buying and selling its stock. Institutional investors such as State Street Corp have lifted their stake by 20.7% to 7.2 million shares valued at $504.6m after purchasing an additional 1.25 million shares during the period. The Vanguard Group Inc also boosted its holdings in National Fuel Gas by 8.2% to own 11.7 million shares worth $724.5m while Allianz Asset Management GmbH acquired a new stake of approximately $16m during the same quarter last year. First Trust Advisors LP saw an increase of 160.8% stake in shares during the first quarter valued at $27.7m after acquiring an additional 249,312 shares.

This flurry of trading activity suggests there is much interest among hedge funds and institutional investors in National Fuel Gas’s worth; with these high-flying types jostling for position with each other to shore up their stakes and hope for high yields on their investments.

Nevertheless, despite this apparent interest from the investment community, several brokerages have weighed in on NFG’s future fortunes within that market environment with mixed feelings: Raymond James lowered its rating on National Fuel Gas from outperform to market perform whilst Argus reduced their target price from $76 to $58 in a report commenting on the state of Natural Fuel Gases’ performance.

In any case, the spotlight is firmly fixed on this important player within America’s domestic energy network and whether this is good or bad news for hedge fund managers tracking trends within domestic energy futures remains undecided as yet- but something is definitely stirring within National Fuel Gas!

Source: beststocks.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai