The New Mario Gabelli’s Gamco Investors, Inc Et Al Holding in National Fuel Gas Co
Gamco Investors, Inc Et Al filed with the SEC SC 13D/A form for National Fuel Gas Co. The form can be accessed here: 000080724916000472. As reported in Mario Gabelli’s Gamco Investors, Inc Et Al’s form, the filler as of late owns 0.08% or 3,369,400 shares of the Utilities & Telecommunications–company.
National Fuel Gas Co stake is a new one for the for the hedge fund and it was filed because of activity on November 9, 2016. We feel this shows Mario Gabelli’s Gamco Investors, Inc Et Al’s positive view for the stock.
The hedge fund is active investor in the Utilities & Telecommunications sector. In the manager’s last 13-F, we saw 11% of Mario Gabelli’s Gamco Investors, Inc Et Al’s US equities portfolio is in this sector.
Reasons Why Mario Gabelli’s Gamco Investors, Inc Et Al Bought – National Fuel Gas Co Stock
Purpose of Transaction
Item 4 to Schedule 13D is amended, in pertinent part, as follows:
On November 9, 2016, GAMCO Asset Management Inc. (“GAMCO”) and certain affiliates, delivered a letter to the Issuer (the “Nomination Letter”) nominating Mr. Lance A. Bakrow (the “Nominee”) for election to the Issuer’s Board of Directors (the “Board”) at the Issuer’s 2017 Annual Meeting of Stockholders (the “2017 Annual Meeting”). GAMCO’s nomination is pursuant to Article IA of the Issuer’s Bylaws, which is a recently-adopted proxy access provision which is intended to provide stockholders with greater access to put forward nominations of individuals for director on the Issuer’s proxy card. GAMCO believes its Nominee’s skill sets and highly relevant business and financial experience, as evidenced by his bio below, will be extremely valuable to the Issuer and GAMCO is confident that its Nominee will have an immediate positive impact on the Board.
Below is information regarding GAMCO’s independent highly-qualified nominee:
Lance A. Bakrow, Age 59, is the co-founder and a director of Greenwich Energy Solutions, a private company that provides independent energy solutions in the northeastern United States (“GES”). Mr. Bakrow founded and has worked at GES since July 2009. Mr. Bakrow is also co-founder and director at SourceGreen, LLC (“SourceGreen”), a private company that is a leading developer, owner and operator of industrial scale renewable energy solar infrastructure projects, which he co-founded in October 2010. In 1994, Mr. Bakrow founded Greenwich Energy Partners, a private global energy trading and asset investment firm which, after extremely rapid growth, was sold in 1997 to Duke Energy Corporation (NYSE: DUK) (f/k/a Cinergy Corp.), an electric power holding company, where he continued to work until 2008. Mr. Bakrow, in 2000, formed Greenwich Power, a private equity company focused on energy investments in new technology, alternative energy, and energy risk management solutions and he worked there as co-founder and director until 2006. Prior to this, from 1985 to 1994, Mr. Bakrow worked as a Partner at The Goldman Sachs Group, Inc. (NYSE: GS) (“Goldman Sachs”), a global investment banking firm, where he ran energy and other related commodity trading and marketing, for the firm. Prior to his time at Goldman Sachs, Mr. Bakrow worked as a trader at Cargill, Inc., a privately held global agribusiness company, from 1981 to 1985. Mr. Bakrow earned a Bachelor of Arts Degree in Business from the University of Arizona in 1979.
National Fuel Gas Co Institutional Sentiment
Latest Security and Exchange filings show 317 investors own National Fuel Gas Co. The institutional ownership in Q3 2015 is very high, at 59.92% of the outstanding shares. This is decreased by 6271798 the total institutional shares. 51006127 were the shares owned by these institutional investors. In total 42 funds opened new National Fuel Gas Co stakes, 110 increased stakes. There were 31 that closed positions and 102 reduced them.
3 managers had the stock in their top Ten. Notable investors are: Gabelli Funds Llc, Nuance Investments Llc, Gamco Investors Inc. Et Al, Private Capital Management Llc, Robshaw & Julian Associates Inc..
Thomas M. Fitzgerald Longbow Capital Partners Lp is an institutional investor bullish on National Fuel Gas Co, owning 11706 shares as of Q3 2015 for 1.70% of its portfolio. Private Capital Management Llc owns 373762 shares or 2.22% of its portfolio. KS Nuance Investments Llc have 11.32% of their stock portfolio for 2071928 shares. Further, Gamco Investors Inc Et Al reported stake worth 1.13% of its US stock portfolio. The NY Gabelli Funds Llc owns 3733100 shares. National Fuel Gas Co is 1.11% of the manager’s US portfolio.
National Fuel Gas Company is a holding company. The Company is an energy company engaged in the production, gathering, transportation, distribution and marketing of natural gas. The Company operates through five segments: Exploration and Production, including operations carried out through its subsidiary, Seneca Resources Corporation; Pipeline and Storage, including operations carried out through its subsidiaries, National Fuel Gas Supply Corporation and Empire Pipeline, Inc.; Gathering, including operations carried out through subsidiaries of National Fuel Gas Midstream Corporation; Utility, including operations are carried out by through its subsidiary, Distribution Corporation, and Energy Marketing, including operations carried out through its subsidiary, National Fuel Resources, Inc. The Company operates an integrated business, with assets centered in western New York and Pennsylvania. The Company also develops and produces oil reserves, primarily in California.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment increased to 1.27 in Q2 2016. Its up 0.15, from 1.12 in 2016Q1. The ratio improved, as 25 funds sold all National Fuel Gas Co. shares owned while 82 reduced positions. 41 funds bought stakes while 95 increased positions. They now own 52.65 million shares or 5.38% less from 55.65 million shares in 2016Q1.
Nordea Investment Mngmt Ab has invested 0% of its portfolio in National Fuel Gas Co. (NYSE:NFG). Brick Kyle Assocs has 0.01% invested in the company for 200 shares. Pnc Services Inc accumulated 0.01% or 87,911 shares. Amer Int Gru, a New York-based fund reported 164,175 shares. Rhumbline Advisers has 131,456 shares for 0.02% of their US portfolio. Dupont Cap Management Corp owns 17,965 shares or 0.02% of their US portfolio. Moreover, Brown Advisory has 0% invested in National Fuel Gas Co. (NYSE:NFG) for 4,547 shares. Two Sigma Secs Limited Co has 4,796 shares for 0.15% of their US portfolio. Ent Financial reported 92 shares or 0% of all its holdings. Parametrica Mgmt Limited holds 0.56% of its portfolio in National Fuel Gas Co. (NYSE:NFG) for 6,521 shares. Legal General Grp Inc Public Ltd Com holds 0% or 73,133 shares in its portfolio. First Personal Fincl Services has invested 0% of its portfolio in National Fuel Gas Co. (NYSE:NFG). State Treasurer State Of Michigan owns 39,080 shares or 0.02% of their US portfolio. Profund Advisors Ltd Com reported 22,500 shares or 0.06% of all its holdings. Whittier Tru owns 12,929 shares or 0.03% of their US portfolio.
Insider Transactions: Since September 1, 2016, the stock had 0 insider buys, and 4 sales for $10.87 million net activity. 27,838 shares were sold by ACKERMAN PHILIP C, worth $1.55 million. SMITH DAVID F sold 48,983 shares worth $2.77M. $702,960 worth of National Fuel Gas Co. (NYSE:NFG) shares were sold by PUSTULKA JOHN R.
The stock increased 1.99% or $1.05 during the last trading session, hitting $53.78. National Fuel Gas Co. (NYSE:NFG) has risen 6.85% since April 8, 2016 and is uptrending. It has outperformed by 1.21% the S&P500.
National Fuel Gas Company is a holding company. The company has a market cap of $4.59 billion. The Firm is an energy firm engaged in the production, gathering, transportation, distribution and marketing of natural gas. It currently has negative earnings. The Firm operates through five divisions: Exploration and Production, including activities carried out through its subsidiary, Seneca Resources Corporation; Pipeline and Storage, including activities carried out through its subsidiaries, National Fuel Gas Supply Corporation and Empire Pipeline, Inc.; Gathering, including activities carried out through subsidiaries of National Fuel Gas Midstream Corporation; Utility, including activities are carried out by through its subsidiary, Distribution Corporation, and Energy Marketing, including activities carried out through its subsidiary, National Fuel Resources, Inc.
National Fuel Gas Co. (NYSE:NFG) Ratings Coverage
Out of 3 analysts covering National Fuel Gas Co. (NYSE:NFG), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. $68 is the highest target while $5 is the lowest. The $45.50 average target is -15.40% below today’s ($53.78) stock price. National Fuel Gas Co. has been the topic of 8 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock has “Sector Perform” rating given by Howard Weil on Tuesday, November 17. On Thursday, July 23 the stock rating was upgraded by Jefferies to “Buy”. The rating was downgraded by Jefferies to “Hold” on Monday, April 18. The firm has “Equal-Weight” rating given on Wednesday, August 10 by Barclays Capital. On Thursday, October 13 the stock rating was upgraded by Jefferies to “Buy”.
More news for National Fuel Gas Co. (NYSE:NFG) were recently published by: Businesswire.com, which released: “National Fuel Reports Fourth Quarter and Full Year Fiscal 2016 Earnings” on November 03, 2016. Seekingalpha.com‘s article titled: “National Fuel Gas Co’s (NFG) CEO Ron Tanski on Q3 2016 Results – Earnings Call …” and published on August 05, 2016 is yet another important article.
According to Zacks Investment Research, “National Fuel Gas Co. is engaged in the business of owning and holding securities issued by its subsidiary companies. The company is a diversified energy company consisting of the following six reportable business segments: Utility; Pipeline and Storage; Exploration and Production; International; Energy Marketing; and Timber.”
NFG Company Profile
National Fuel Gas Company, incorporated in 1902, is a holding company. The Firm is an energy firm engaged in the production, gathering, transportation, distribution and marketing of natural gas. The Firm operates through five divisions: Exploration and Production, Pipeline and Storage, Gathering, Utility and Energy Marketing. The Firm operates an integrated business, with assets centered in western New York and Pennsylvania. The Firm also develops and produces oil reserves, primarily in California. The Company, through its subsidiaries, coordinates projects that are designed to produce and transport natural gas from the Marcellus Shale to markets in Canada and the eastern United States.
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