Corient Private Wealth LP Invests $745,000 in National Fuel Gas Company $NFG

Key Points

• Corient Private Wealth initiated a $745,000 position in National Fuel Gas, purchasing 34,321 shares during the second quarter. Institutional investors and hedge funds collectively own 73.96% of NFG’s outstanding stock.
• National Fuel Gas reported quarterly EPS of $1.54, exceeding the $1.44 consensus estimate, while revenue rose 1.1% year over year to $537.5 million but fell short of expectations.
• The company raised its quarterly dividend to $0.555 per share, or $2.22 annually, representing a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $105.50.

Corient Private Wealth LP bought a new stake in shares of National Fuel Gas Company (NYSE:NFG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 34,321 shares of the oil and gas producer's stock, valued at approximately $745,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NFG. Ausdal Financial Partners Inc. acquired a new stake in shares of National Fuel Gas during the 2nd quarter valued at about $488,000. Bank of America Corp DE bought a new position in shares of National Fuel Gas in the 2nd quarter valued at approximately $58,343,000. Freestone Grove Partners LP bought a new position in shares of National Fuel Gas in the 2nd quarter valued at approximately $710,000. Man Group plc acquired a new stake in National Fuel Gas in the 2nd quarter worth approximately $6,340,000. Finally, Jupiter Topco LLC acquired a new stake in National Fuel Gas in the 2nd quarter worth approximately $3,168,000. Hedge funds and other institutional investors own 73.96% of the company's stock.

National Fuel Gas Price Performance

NYSE NFG opened at $83.29 on Friday. The stock has a 50-day simple moving average of $81.36 and a 200 day simple moving average of $84.41. National Fuel Gas Company has a twelve month low of $75.17 and a twelve month high of $97.06. The stock has a market capitalization of $7.92 billion, a PE ratio of 11.57, a P/E/G ratio of 1.86 and a beta of 0.37. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.07 and a current ratio of 3.20.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 EPS for the quarter, topping the consensus estimate of $1.44 by $0.10. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The company had revenue of $537.50 million for the quarter, compared to the consensus estimate of $564.33 million. During the same period in the previous year, the business posted $1.64 EPS. The company's revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts anticipate that National Fuel Gas Company will post 7.49 EPS for the current year.

National Fuel Gas Increases Dividend

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

Analyst Upgrades and Downgrades

NFG has been the topic of several analyst reports. KeyCorp reiterated an "overweight" rating on shares of National Fuel Gas in a report on Monday, August 31st. 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. Finally, Wall Street Zen downgraded shares of National Fuel Gas from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $105.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source