Oppenheimer Asset Management Inc. acquired a new position in shares of National Fuel Gas Company (NYSE:NFG – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 103,391 shares of the oil and gas producer’s stock, valued at approximately $7,983,000. Oppenheimer Asset Management Inc. owned about 0.11% of National Fuel Gas at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NFG. Price T Rowe Associates Inc. MD boosted its holdings in shares of National Fuel Gas by 653.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,582,782 shares of the oil and gas producer’s stock worth $126,718,000 after purchasing an additional 1,372,742 shares during the period. Norges Bank bought a new position in shares of National Fuel Gas during the 4th quarter valued at approximately $92,415,000. AQR Capital Management LLC raised its holdings in National Fuel Gas by 103.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,138,153 shares of the oil and gas producer’s stock valued at $197,501,000 after buying an additional 1,087,067 shares during the period. Yaupon Capital Management LP raised its holdings in National Fuel Gas by 521.0% during the 4th quarter. Yaupon Capital Management LP now owns 1,105,979 shares of the oil and gas producer’s stock valued at $88,545,000 after buying an additional 927,873 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in National Fuel Gas in the first quarter worth $63,863,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on NFG. Weiss Ratings lowered shares of National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Wall Street Zen raised shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, National Fuel Gas presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.50.
National Fuel Gas Trading Up 0.5%
NFG stock opened at $81.91 on Friday. The company has a market capitalization of $7.78 billion, a PE ratio of 11.38, a P/E/G ratio of 1.81 and a beta of 0.37. National Fuel Gas Company has a 12 month low of $75.17 and a 12 month high of $97.06. The firm’s 50-day moving average is $79.44 and its 200 day moving average is $84.55. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.20 and a quick ratio of 3.07.
National Fuel Gas (NYSE:NFG – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.10. The company had revenue of $537.50 million during the quarter, compared to analyst estimates of $564.33 million. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS. On average, research analysts anticipate that National Fuel Gas Company will post 7.5 EPS for the current year.
National Fuel Gas Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.555 dividend. The ex-dividend date was Tuesday, June 30th. This is a positive change from National Fuel Gas’s previous quarterly dividend of $0.54. This represents a $2.22 dividend on an annualized basis and a dividend yield of 2.7%. National Fuel Gas’s dividend payout ratio (DPR) is presently 30.83%.
About National Fuel Gas
National Fuel Gas Company (NYSE: NFG) is a diversified energy company engaged primarily in the production, gathering, transmission, distribution and marketing of natural gas. The company operates through four principal segments: Exploration & Production, Pipeline & Storage, Utilities, and Energy Marketing. Its integrated asset base spans upstream development in the Appalachian Basin, regional pipeline networks, underground storage facilities, and regulated utility distribution systems.
In its Exploration & Production segment, National Fuel Gas focuses on developing natural gas reserves in the Marcellus and Utica shales, leveraging modern drilling and completion techniques.
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