Energy Income Partners LLC Acquires Shares of 2,995,843 National Fuel Gas Company $NFG

Key Points

• Energy Income Partners acquired 2,995,843 National Fuel Gas shares worth approximately $231.3 million, giving it a 3.15% stake and making NFG its fifth-largest holding. Institutional investors collectively own 73.96% of the company.
• National Fuel Gas reported quarterly EPS of $1.54, beating the $1.44 consensus estimate, while revenue reached $537.5 million and increased 1.1% year over year.
• 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 a $105.50 target price.

Energy Income Partners LLC bought a new position in National Fuel Gas Company (NYSE:NFG - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,995,843 shares of the oil and gas producer's stock, valued at approximately $231,309,000. National Fuel Gas makes up about 3.6% of Energy Income Partners LLC's portfolio, making the stock its 5th largest holding. Energy Income Partners LLC owned 3.15% of National Fuel Gas at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of National Fuel Gas in the 2nd quarter worth $748,569,000. State Street Corp lifted its position in shares of National Fuel Gas by 3.4% in the 2nd quarter. State Street Corp now owns 4,035,345 shares of the oil and gas producer's stock worth $343,962,000 after purchasing an additional 132,855 shares during the period. AQR Capital Management LLC boosted its stake 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 valued at $197,501,000 after purchasing an additional 1,087,067 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of National Fuel Gas by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 1,816,217 shares of the oil and gas producer's stock valued at $145,446,000 after purchasing an additional 121,099 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in 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 buying an additional 1,372,742 shares during the period. Institutional investors own 73.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NFG. Weiss Ratings downgraded 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, National Fuel Gas presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.50.

National Fuel Gas Stock Performance

Shares of NFG opened at $83.49 on Wednesday. National Fuel Gas Company has a 12 month low of $75.17 and a 12 month high of $97.06. The stock has a fifty day moving average price of $79.68 and a 200-day moving average price of $84.55. The company has a current ratio of 3.20, a quick ratio of 3.07 and a debt-to-equity ratio of 0.91. The firm has a market cap of $7.93 billion, a PE ratio of 11.60, a P/E/G ratio of 1.82 and a beta of 0.37.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share 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 firm 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 earned $1.64 EPS. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts predict that National Fuel Gas Company will post 7.5 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

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

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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