Bayforest Capital Ltd Increases Position in National Fuel Gas Company (NYSE:NFG)

Key Points

• Bayforest Capital Ltd significantly increased its stake in National Fuel Gas Company by 16,186.7%, owning 4,886 shares valued at $387,000 after purchasing an additional 4,856 shares.
• Analysts have upgraded National Fuel Gas, with Bank of America raising its rating from "underperform" to "buy" and increasing the price target from $85.00 to $107.00.
• The company recently increased its quarterly dividend to $0.535 per share, up from $0.52, reflecting a positive change in its cash returns to shareholders.

Bayforest Capital Ltd increased its position in National Fuel Gas Company (NYSE:NFG - Free Report) by 16,186.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,886 shares of the oil and gas producer's stock after purchasing an additional 4,856 shares during the quarter. Bayforest Capital Ltd's holdings in National Fuel Gas were worth $387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NFG. Assetmark Inc. boosted its position 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 in the last quarter. Quarry LP acquired a new stake in shares of National Fuel Gas in the 4th quarter worth $32,000. Ameriflex Group Inc. acquired a new stake in shares of National Fuel Gas in the 4th quarter worth $36,000. Aster Capital Management DIFC Ltd boosted its position in shares of National Fuel Gas by 223.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 656 shares of the oil and gas producer's stock worth $40,000 after purchasing an additional 453 shares in the last quarter. Finally, Cranbrook Wealth Management LLC acquired a new stake in shares of National Fuel Gas in the 1st quarter worth $40,000. Institutional investors own 73.96% of the company's stock.

National Fuel Gas Price Performance

NFG stock traded up $0.65 during trading on Monday, hitting $87.30. The stock had a trading volume of 171,242 shares, compared to its average volume of 645,466. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.46 and a quick ratio of 0.39. National Fuel Gas Company has a twelve month low of $56.29 and a twelve month high of $89.82. The stock has a market capitalization of $7.89 billion, a P/E ratio of 32.82, a PEG ratio of 0.51 and a beta of 0.65. The company's 50-day moving average price is $84.71 and its two-hundred day moving average price is $78.91.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The oil and gas producer reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.14. The business had revenue of $531.83 million for the quarter, compared to analysts' expectations of $596.12 million. National Fuel Gas had a return on equity of 20.81% and a net margin of 11.15%. The business's revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 EPS. As a group, research analysts predict that National Fuel Gas Company will post 6.64 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.535 dividend. The ex-dividend date of this dividend was Monday, June 30th. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.52. This represents a $2.14 dividend on an annualized basis and a yield of 2.5%. National Fuel Gas's dividend payout ratio is presently 80.45%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NFG shares. Bank of America upgraded National Fuel Gas from an "underperform" rating to a "buy" rating and raised their target price for the stock from $85.00 to $107.00 in a research note on Tuesday, July 15th. Scotiabank raised their target price on National Fuel Gas from $88.00 to $98.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Finally, Wall Street Zen upgraded National Fuel Gas from a "hold" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $95.33.

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.