Equity Investment Corp acquired a new position in shares of National Fuel Gas Company (NYSE:NFG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,012,957 shares of the oil and gas producer's stock, valued at approximately $78,210,000. Equity Investment Corp owned 1.07% of National Fuel Gas at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFG. SJS Investment Consulting Inc. increased its position in shares of National Fuel Gas by 458.0% in the first quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 229 shares during the period. Fairscale Capital LLC acquired a new stake in National Fuel Gas during the fourth quarter worth about $29,000. HM Payson & Co. bought a new position in National Fuel Gas in the 4th quarter valued at about $29,000. Cassaday & Co Wealth Management LLC bought a new position in National Fuel Gas in the 1st quarter valued at about $38,000. Finally, Bogart Wealth LLC raised its position in shares of National Fuel Gas by 170.2% in the 1st quarter. Bogart Wealth LLC now owns 516 shares of the oil and gas producer's stock valued at $49,000 after buying an additional 325 shares in the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.
National Fuel Gas Stock Performance
NYSE:NFG opened at $83.49 on Wednesday. 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 stock's 50-day simple moving average is $79.68 and its 200 day simple moving average is $84.55. The firm has a market capitalization of $7.93 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.82 and a beta of 0.37.
National Fuel Gas (NYSE:NFG - Get Free Report) last issued 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 firm had revenue of $537.50 million during the quarter, compared to the consensus estimate of $564.33 million. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. On average, analysts anticipate that National Fuel Gas Company will post 7.5 EPS for the current fiscal year.
National Fuel Gas Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.555 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.22 dividend on an annualized basis and a yield of 2.7%. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.54. National Fuel Gas's dividend payout ratio is currently 30.83%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of National Fuel Gas from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings cut shares of National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $105.50.
Read Our Latest Analysis on National Fuel Gas
National Fuel Gas Company Profile
(
Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider National Fuel Gas, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and National Fuel Gas wasn't on the list.
While National Fuel Gas currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
