Bernzott Capital Advisors Raises Position in National Fuel Gas Company $NFG

Key Points

• Bernzott Capital Advisors increased its stake in National Fuel Gas by 31.4% in the first quarter, bringing its holdings to 66,590 shares worth about $6.26 million.
• National Fuel Gas reported quarterly earnings of $2.71 per share, missing estimates, while revenue came in slightly above expectations and rose 17.6% year over year.
• The company raised its quarterly dividend to $0.555 per share, implying an annualized yield of 2.8%; analysts currently rate the stock a Moderate Buy with an average target price of $106.00.

Bernzott Capital Advisors grew its holdings in shares of National Fuel Gas Company (NYSE:NFG - Free Report) by 31.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,590 shares of the oil and gas producer's stock after acquiring an additional 15,895 shares during the period. National Fuel Gas comprises approximately 3.0% of Bernzott Capital Advisors' holdings, making the stock its 18th largest position. Bernzott Capital Advisors owned about 0.07% of National Fuel Gas worth $6,257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in National Fuel Gas by 30.0% during the first quarter. Goldman Sachs Group Inc. now owns 159,953 shares of the oil and gas producer's stock valued at $12,667,000 after purchasing an additional 36,913 shares during the period. Empowered Funds LLC purchased a new stake in National Fuel Gas in the first quarter worth about $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of National Fuel Gas by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,730 shares of the oil and gas producer's stock worth $17,480,000 after buying an additional 8,304 shares during the period. Focus Partners Wealth raised its stake in shares of National Fuel Gas by 79.5% in the first quarter. Focus Partners Wealth now owns 12,729 shares of the oil and gas producer's stock worth $1,008,000 after buying an additional 5,638 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of National Fuel Gas in the first quarter worth about $138,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

National Fuel Gas Stock Performance

NFG opened at $79.12 on Friday. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.74 and a beta of 0.37. The company has a fifty day moving average of $79.00 and a 200 day moving average of $84.48. National Fuel Gas Company has a fifty-two week low of $75.17 and a fifty-two week high of $97.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.55 and a current ratio of 0.62.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.14). The company had revenue of $858.37 million during the quarter, compared to analysts' expectations of $856.57 million. National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.The firm's revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.39 EPS. As a group, sell-side analysts forecast that National Fuel Gas Company will post 7.58 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.54. National Fuel Gas's dividend payout ratio is presently 30.04%.

Wall Street Analyst Weigh In

A number of research 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 Monday, June 8th. KeyCorp assumed coverage on shares of National Fuel Gas in a research note on Tuesday, April 7th. They set an "overweight" rating and a $110.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $106.00.

About National Fuel Gas

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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