In a recent transaction, Michael W. Reville, the General Counsel and Secretary of National Fuel Gas Co (NYSE:NFG), sold 450 shares of the company's common stock. The sale was executed at a price of $52.72 per share, amounting to a total value of $23,724.
The transaction, which took place on March 27, 2024, was disclosed in a regulatory filing with the Securities and Exchange Commission. Following the sale, Reville's direct holdings in National Fuel Gas Co stand at 16,260 shares. Additionally, the filing noted an indirect holding of 13,623 shares in the form of units within the company's 401(k) trust, which includes both National Fuel Gas Co common stock and a cash reserve.
The indirect holdings represent the value of Reville’s balance in the National Fuel Gas Co stock fund under the company’s 401(k) plan, as of the transaction date, and as reported by the plan administrator. The value is calculated based on the closing price of National Fuel Gas Co's common stock on March 27, 2024.
National Fuel Gas Co, with its headquarters in Williamsville, New York, is a diversified energy company engaged in natural gas distribution. The company's business address and the reporting owner's address are both located at 6363 Main Street, Williamsville, NY.
This stock transaction is part of the routine financial disclosures that executives of publicly traded companies are required to make. These transactions provide investors and the market with transparency regarding the financial activities of a company's insiders.
InvestingPro Insights
As National Fuel Gas Co (NYSE:NFG) navigates the market, the company's recent financial metrics and analyst insights from InvestingPro paint a comprehensive picture for investors. With a market capitalization of $4.93 billion and a solid track record of dividend reliability, National Fuel Gas Co stands out with a few notable highlights:
The company boasts a commendable dividend history, having raised its dividend for 53 consecutive years, indicating a strong commitment to returning value to shareholders. This is further substantiated by the fact that the company has maintained dividend payments for 54 consecutive years. The dividend yield as of the latest data stands at a robust 3.74%, with a dividend growth rate over the last twelve months of 4.21%. Such performance could be particularly attractive to income-focused investors.
On the valuation front, National Fuel Gas Co is trading at a low earnings multiple with a P/E ratio of 11.16, which may suggest that the stock is undervalued compared to its earnings potential. This, coupled with the fact that analysts predict the company will be profitable this year and has been profitable over the last twelve months, could indicate a potentially appealing entry point for value investors.
It's worth noting, however, that the company's short-term obligations exceed its liquid assets, which is a financial nuance investors may want to consider when evaluating the company's overall risk profile.
For those interested in delving deeper into National Fuel Gas Co's financials and analyst projections, InvestingPro offers additional InvestingPro Tips to aid in making informed investment decisions. Currently, there are more tips available on InvestingPro, which can be accessed at: https://www.investing.com/pro/NFG. Don't forget to use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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