Connor Clark & Lunn Investment Management Ltd. Takes $10.24 Million Position in National Fuel Gas Company $NFG

Key Points

• Connor Clark & Lunn Investment Management purchased 132,640 National Fuel Gas shares worth approximately $10.24 million, while institutional investors collectively owned 73.96% of the company.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $105.50; the stock recently traded at $83.61.
• National Fuel Gas exceeded quarterly EPS expectations, reporting $1.54 versus the $1.44 consensus estimate, and increased its quarterly dividend to $0.555 per share, representing a 2.7% annualized yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of National Fuel Gas Company (NYSE:NFG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 132,640 shares of the oil and gas producer's stock, valued at approximately $10,241,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of National Fuel Gas at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in National Fuel Gas during the 2nd quarter worth approximately $748,569,000. Energy Income Partners LLC acquired a new position in National Fuel Gas in the 2nd quarter valued at approximately $231,309,000. Price T Rowe Associates Inc. MD raised its stake in shares of National Fuel Gas by 653.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,582,782 shares of the oil and gas producer's stock valued at $126,718,000 after acquiring an additional 1,372,742 shares during the last quarter. Norges Bank bought a new position in shares of National Fuel Gas during the fourth quarter valued at $92,415,000. Finally, AQR Capital Management LLC lifted its holdings in shares of National Fuel Gas by 103.4% during 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 purchasing an additional 1,087,067 shares during the period. Institutional investors and hedge funds own 73.96% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. 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. Wall Street Zen raised National Fuel Gas from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, National Fuel Gas presently has an average rating of "Moderate Buy" and a consensus price target of $105.50.

National Fuel Gas Stock Performance

Shares of NFG stock opened at $83.61 on Thursday. The business's 50 day simple moving average is $80.43 and its 200 day simple moving average is $84.52. National Fuel Gas Company has a one year low of $75.17 and a one year high of $97.06. The stock has a market capitalization of $7.95 billion, a PE ratio of 11.61, a PEG ratio of 1.83 and a beta of 0.37. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.20 and a quick ratio of 3.07.

National Fuel Gas (NYSE:NFG - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share (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 analyst estimates of $564.33 million. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The company's revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.64 EPS. As a group, research analysts forecast that National Fuel Gas Company will post 7.5 earnings per share for the current year.

National Fuel Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.555 per share. This is a boost from National Fuel Gas's previous quarterly dividend of $0.54. This represents a $2.22 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, June 30th. National Fuel Gas's payout ratio is 30.83%.

National Fuel Gas Company 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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