The Manufacturers Life Insurance Company bought a new position in shares of National Fuel Gas Company (NYSE:NFG – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 114,012 shares of the oil and gas producer’s stock, valued at approximately $8,803,000. The Manufacturers Life Insurance Company owned approximately 0.12% of National Fuel Gas as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in NFG. SJS Investment Consulting Inc. grew its holdings in shares of National Fuel Gas by 458.0% during the first quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 229 shares in the last quarter. Fairscale Capital LLC acquired a new stake in National Fuel Gas in the 4th quarter valued at about $29,000. HM Payson & Co. acquired a new stake in shares of National Fuel Gas in the fourth quarter valued at approximately $29,000. Cassaday & Co Wealth Management LLC bought a new position in National Fuel Gas during the first quarter worth $38,000. Finally, Bogart Wealth LLC boosted its holdings in shares of National Fuel Gas by 170.2% during the 1st quarter. Bogart Wealth LLC now owns 516 shares of the oil and gas producer’s stock worth $49,000 after buying an additional 325 shares during the period. Institutional investors own 73.96% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Weiss Ratings downgraded National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Wall Street Zen cut shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.50.
National Fuel Gas Price Performance
Shares of NYSE NFG opened at $82.97 on Friday. National Fuel Gas Company has a twelve month low of $75.17 and a twelve month high of $97.06. The company has a quick ratio of 3.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.91. The firm has a fifty day simple moving average of $80.71 and a 200 day simple moving average of $84.49. The company has a market capitalization of $7.89 billion, a PE ratio of 11.52, a P/E/G ratio of 1.84 and a beta of 0.37.
National Fuel Gas (NYSE:NFG – Get Free Report) last released its earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 EPS for the quarter, topping the consensus estimate of $1.44 by $0.10. The business had revenue of $537.50 million during the quarter, compared to analysts’ expectations of $564.33 million. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The firm’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 earnings per share. On average, sell-side analysts forecast that National Fuel Gas Company will post 7.5 EPS for the current year.
National Fuel Gas Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 2.7%. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Tuesday, June 30th. National Fuel Gas’s payout ratio is 30.83%.
National Fuel Gas Profile
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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