Equity Investment Corp raised its position in National Fuel Gas Company (NYSE:NFG – Free Report) by 30.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,325,019 shares of the oil and gas producer’s stock after buying an additional 312,062 shares during the period. National Fuel Gas accounts for 1.4% of Equity Investment Corp’s investment portfolio, making the stock its 28th biggest holding. Equity Investment Corp’s holdings in National Fuel Gas were worth $100,516,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of National Fuel Gas in the second quarter valued at approximately $748,569,000. Energy Income Partners LLC lifted its holdings in National Fuel Gas by 1.1% during the first quarter. Energy Income Partners LLC now owns 2,589,824 shares of the oil and gas producer’s stock worth $243,340,000 after acquiring an additional 28,755 shares during the period. Dimensional Fund Advisors LP lifted its holdings in National Fuel Gas by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,177,958 shares of the oil and gas producer’s stock worth $110,686,000 after acquiring an additional 42,108 shares during the period. First Trust Advisors LP boosted its position in National Fuel Gas by 35.7% in the first quarter. First Trust Advisors LP now owns 1,072,487 shares of the oil and gas producer’s stock worth $100,771,000 after purchasing an additional 282,071 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in National Fuel Gas by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 947,563 shares of the oil and gas producer’s stock worth $89,033,000 after purchasing an additional 24,003 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.
National Fuel Gas Price Performance
National Fuel Gas stock opened at $74.75 on Wednesday. National Fuel Gas Company has a 12 month low of $73.01 and a 12 month high of $97.06. The company has a current ratio of 1.54, a quick ratio of 1.47 and a debt-to-equity ratio of 0.82. The business’s 50 day simple moving average is $79.35 and its 200 day simple moving average is $83.17. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.99 and a beta of 0.36.
National Fuel Gas (NYSE:NFG – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.18. The business had revenue of $467.85 million for the quarter, compared to analysts’ expectations of $472.38 million. National Fuel Gas had a return on equity of 17.95% and a net margin of 26.46%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. Sell-side analysts forecast that National Fuel Gas Company will post 6.20 EPS for the current year.
National Fuel Gas Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.5550 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.22 annualized dividend and a yield of 3.0%. National Fuel Gas’s dividend payout ratio (DPR) is currently 31.53%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on NFG. Weiss Ratings raised shares of National Fuel Gas from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. KeyCorp restated an “overweight” rating on shares of National Fuel Gas in a report on Monday, August 31st. Finally, Wall Street Zen raised shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.50.
Check Out Our Latest Stock Report on National Fuel Gas
About National Fuel Gas
National Fuel Gas Company is a diversified natural gas business founded in 1902 and headquartered in Williamsville, New York. Its operations span natural gas production, gathering and transportation, storage, and local distribution. Through Seneca Resources, the company explores for and produces natural gas, primarily in the Appalachian region. Its pipeline and storage businesses gather, transport, and store natural gas, connecting production areas with markets and other pipeline systems. National Fuel Gas also distributes natural gas to homes and businesses in western New York and northwestern Pennsylvania.
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