Clark Capital Management Group Inc. Increases Stake in National Fuel Gas Company $NFG

Key Points

• Clark Capital Management Group increased its stake in National Fuel Gas by 46.1% in Q3, adding 203,443 shares to hold 644,337 shares worth about $59.5 million (0.71% of the company).
• Other large institutions also significantly boosted positions—AQR (+103.4%), Qube (+642.7%), Squarepoint (+428.8%) and a new Norges Bank stake—leaving hedge funds and institutional investors with 73.96% ownership.
• National Fuel Gas beat EPS estimates ($2.06 vs. $1.91) with 18.6% revenue growth, declared a quarterly dividend of $0.535 (annualized yield 2.2%), and holds a consensus price target of $104 ("Moderate Buy").

Clark Capital Management Group Inc. increased its stake in National Fuel Gas Company (NYSE:NFG - Free Report) by 46.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 644,337 shares of the oil and gas producer's stock after purchasing an additional 203,443 shares during the period. Clark Capital Management Group Inc. owned 0.71% of National Fuel Gas worth $59,517,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in shares of National Fuel Gas by 103.4% in the third quarter. AQR Capital Management LLC now owns 2,138,153 shares of the oil and gas producer's stock worth $197,501,000 after buying an additional 1,087,067 shares during the last quarter. Norges Bank acquired a new position in shares of National Fuel Gas in the 2nd quarter valued at $91,964,000. Qube Research & Technologies Ltd increased its position in shares of National Fuel Gas by 642.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 465,830 shares of the oil and gas producer's stock valued at $39,460,000 after acquiring an additional 403,107 shares during the period. Squarepoint Ops LLC raised its stake in National Fuel Gas by 428.8% in the 3rd quarter. Squarepoint Ops LLC now owns 308,466 shares of the oil and gas producer's stock worth $28,493,000 after acquiring an additional 250,130 shares during the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in National Fuel Gas by 99.6% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 465,254 shares of the oil and gas producer's stock worth $42,976,000 after acquiring an additional 232,130 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on NFG. Zacks Research upgraded National Fuel Gas from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of National Fuel Gas in a report on Monday, December 29th. Finally, Scotiabank set a $101.00 target price on National Fuel Gas in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, National Fuel Gas has an average rating of "Moderate Buy" and a consensus price target of $104.00.

National Fuel Gas Trading Up 2.8%

NYSE NFG opened at $96.38 on Friday. The firm's 50 day moving average price is $85.71 and its two-hundred day moving average price is $84.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.59 and a current ratio of 0.65. National Fuel Gas Company has a twelve month low of $69.93 and a twelve month high of $96.78. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.24 and a beta of 0.57.

National Fuel Gas (NYSE:NFG - Get Free Report) last released its earnings results on Thursday, January 29th. The oil and gas producer reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.15. National Fuel Gas had a return on equity of 21.45% and a net margin of 27.65%.The company had revenue of $651.51 million during the quarter, compared to analyst estimates of $650.70 million. During the same quarter in the prior year, the company earned $1.66 earnings per share. The company's revenue for the quarter was up 18.6% on a year-over-year basis. Equities analysts anticipate that National Fuel Gas Company will post 6.64 EPS for the current year.

National Fuel Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.535 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.14 dividend on an annualized basis and a yield of 2.2%. National Fuel Gas's dividend payout ratio (DPR) is presently 29.85%.

National Fuel Gas Profile

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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