National Fuel Gas Company (NYSE:NFG) Position Increased by Atlas Capital Advisors Inc.

Key Points

• Atlas Capital Advisors Inc. significantly increased its stake in National Fuel Gas by 2,970.2% in the first quarter, owning 6,294 shares valued at $498,000.
• Equity analysts are optimistic about National Fuel Gas, with Bank of America upgrading the stock to a "buy" rating and raising the target price to $107.00.
• The company declared a quarterly dividend of $0.535, up from $0.52, representing an annual yield of 2.4%.

Atlas Capital Advisors Inc. lifted its stake in shares of National Fuel Gas Company (NYSE:NFG - Free Report) by 2,970.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,294 shares of the oil and gas producer's stock after acquiring an additional 6,089 shares during the period. Atlas Capital Advisors Inc.'s holdings in National Fuel Gas were worth $498,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NFG. Assetmark Inc. raised its holdings in shares of National Fuel Gas by 9,475.0% in the 1st quarter. Assetmark Inc. now owns 383 shares of the oil and gas producer's stock worth $30,000 after purchasing an additional 379 shares during the period. Quarry LP purchased a new position in shares of National Fuel Gas in the 4th quarter worth about $32,000. Ameriflex Group Inc. purchased a new position in shares of National Fuel Gas in the 4th quarter worth about $36,000. Cranbrook Wealth Management LLC purchased a new position in shares of National Fuel Gas in the 1st quarter worth about $40,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of National Fuel Gas in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 73.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NFG shares. Wall Street Zen lowered National Fuel Gas from a "buy" rating to a "hold" rating in a research note on Sunday. Bank of America upgraded National Fuel Gas from an "underperform" rating to a "buy" rating and increased their target price for the company from $85.00 to $107.00 in a research note on Tuesday, July 15th. Finally, Scotiabank reiterated an "outperform" rating on shares of National Fuel Gas in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, National Fuel Gas presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.67.

National Fuel Gas Stock Up 0.3%

NYSE NFG traded up $0.25 during mid-day trading on Wednesday, reaching $88.01. 532,001 shares of the company's stock traded hands, compared to its average volume of 647,291. National Fuel Gas Company has a 1-year low of $58.30 and a 1-year high of $89.82. The company has a fifty day simple moving average of $85.36 and a 200-day simple moving average of $79.73. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.80. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 0.51 and a beta of 0.65.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.14. National Fuel Gas had a return on equity of 20.81% and a net margin of 11.15%. The firm had revenue of $531.83 million during the quarter, compared to analyst estimates of $596.12 million. During the same quarter last year, the firm earned $0.99 EPS. National Fuel Gas's quarterly revenue was up 27.4% on a year-over-year basis. As a group, equities research analysts expect that National Fuel Gas Company will post 6.64 EPS for the current year.

National Fuel Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, June 30th. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's payout ratio is 80.45%.

National Fuel Gas Profile

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.