National Fuel Gas Company reports news about an integrated natural gas business organized around Integrated Upstream and Gathering, Pipeline and Storage, and Utility operations. Its recurring updates cover operating and financial results, earnings calls, quarterly dividend actions, stockholder votes, and capital-structure matters tied to common stock and credit arrangements.
The company’s business disclosures connect Seneca natural gas exploration and development in the Appalachian region with midstream gathering, pipeline transportation and storage assets serving customers in the northeastern United States and Canada, and utility service in western New York and northwestern Pennsylvania.
National Fuel Gas Company (NFG) reported Q3 FY2020 earnings of $41.3 million, or $0.47 per share, down from $63.8 million, or $0.73 per share, in Q3 FY2019. Excluding a $13.2 million impairment, adjusted earnings were $50.0 million, or $0.57 per share. Adjusted EBITDA fell to $171.9 million compared to $182.9 million a year ago. The Pipeline & Storage segment saw a 35% EBITDA increase, while E&P segment production rose slightly to 56.0 Bcfe. NFG revised its FY2020 EPS guidance down to $2.75-$2.85 but forecasts FY2021 EPS between $3.40 and $3.70, boosted by recent acquisitions.
National Fuel Gas Company (NYSE: NFG) has completed a $504 million acquisition of upstream and midstream gathering assets from SWEPI LP, a subsidiary of Royal Dutch Shell. This acquisition is the largest in the company's 118-year history and is expected to enhance free cash flow, improve operational efficiency, and drive earnings growth in fiscal 2021. National Fuel plans to provide guidance on August 6, 2020, anticipating significant financial benefits from the newly integrated assets.
National Fuel Gas Company (NYSE:NFG) will host a teleconference on August 7, 2020, at 11 a.m. (ET) to discuss its Third Quarter Fiscal 2020 results and provide updates on company operations. Representing management will be David P. Bauer, President and CEO; Karen M. Camiolo, Treasurer; and John P. McGinnis, President of Seneca Resources. Pre-registration is required for participants, and the event will also be available via a simultaneous webcast on the National Fuel website. An audio replay will be accessible after the call until August 14, 2020.
National Fuel Gas Company (NFG) has appointed Jeffrey F. Hart as its first Vice President of Corporate Responsibility. This new role underscores the importance of corporate responsibility initiatives within the company. Hart, who has been with National Fuel since 1984, will lead the Corporate Responsibility Management Committee, focusing on environmental, social, and governance (ESG) issues. His extensive experience across various business segments positions him to enhance the company’s sustainable practices and ESG disclosures, aligning operational decisions with corporate responsibility principles.
The National Fuel Gas Company (NFG) has announced a 2.3% increase in its quarterly dividend, now set at 44.5 cents per share, effective from July 15, 2020. This decision marks the 50th consecutive year of dividend increases and continues a tradition of 118 years of uninterrupted dividend payments. Shareholders of record on June 30, 2020, will benefit from this rise, which equates to an annual rate of $1.78 per share. With approximately 90.9 million shares outstanding, NFG remains committed to rewarding its investors.
National Fuel Gas Company (NFG) announced a public offering of 3,800,000 shares of common stock at $39.50 per share, aiming for net proceeds of approximately $144.8 million. The offering, scheduled to close on June 2, 2020, includes an underwriters' option to purchase an additional 570,000 shares. Proceeds will be utilized for general corporate purposes, potentially funding an acquisition from SWEPI LP. J.P. Morgan Securities, BofA Securities, and Goldman Sachs are managing the offering. This offering is not contingent on the acquisition.
National Fuel Gas Company (NYSE: NFG) announced an underwritten public offering of 3.25 million shares of its common stock. The offering is part of a registration statement under the Securities Act of 1933 and includes a 30-day underwriter option for an additional 487,500 shares. Proceeds will be utilized for general corporate purposes, primarily to fund its acquisition of assets from SWEPI LP. The offering is not contingent on the acquisition's completion.
National Fuel Gas Company (NYSE: NFG) announced the acquisition of upstream and midstream assets in Pennsylvania from SWEPI LP for approximately $541 million, reducing to $500 million post-adjustments. The deal, expected to close on July 31, 2020, aligns with National Fuel's integrated business model, enhancing cash flow and earnings per share. The assets include 710 Bcf of proved reserves and 142 miles of gathering pipelines, forecasted to generate over $125 million in EBITDA. The acquisition will lower operating costs and provides significant hedge positions against commodity price fluctuations.
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