Energy Income Partners LLC Boosts Position in National Fuel Gas Company $NFG

Key Points

• Energy Income Partners increased its National Fuel Gas stake by 1.1% in the first quarter, holding 2.59 million shares worth approximately $243.3 million. NFG now represents 3.9% of the firm’s portfolio, while institutional investors own 73.96% of the stock.
• Analysts maintain a generally positive outlook, with NFG carrying a “Moderate Buy” consensus rating and an average price target of $105.50, including KeyCorp’s $110 target.
• National Fuel Gas shares opened at $80.69, near the lower end of their 52-week range, after the company reported quarterly EPS of $2.71—below estimates—despite 17.6% year-over-year revenue growth. The company raised its quarterly dividend to $0.555 per share, implying a 2.8% annual yield.

Energy Income Partners LLC increased its position in National Fuel Gas Company (NYSE:NFG - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,589,824 shares of the oil and gas producer's stock after purchasing an additional 28,755 shares during the quarter. National Fuel Gas makes up 3.9% of Energy Income Partners LLC's portfolio, making the stock its 5th biggest position. Energy Income Partners LLC owned 2.72% of National Fuel Gas worth $243,340,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Bridge LLC boosted its stake in shares of National Fuel Gas by 0.7% in the 4th quarter. Legacy Bridge LLC now owns 17,927 shares of the oil and gas producer's stock valued at $1,435,000 after purchasing an additional 132 shares during the last quarter. NewEdge Wealth LLC raised its stake in shares of National Fuel Gas by 6.2% during the fourth quarter. NewEdge Wealth LLC now owns 2,680 shares of the oil and gas producer's stock worth $215,000 after buying an additional 156 shares during the last quarter. Optas LLC lifted its holdings in National Fuel Gas by 5.3% in the first quarter. Optas LLC now owns 3,238 shares of the oil and gas producer's stock valued at $304,000 after buying an additional 163 shares during the period. Brooklyn Investment Group lifted its holdings in National Fuel Gas by 7.5% in the third quarter. Brooklyn Investment Group now owns 2,434 shares of the oil and gas producer's stock valued at $225,000 after buying an additional 169 shares during the period. Finally, Inspire Investing LLC boosted its stake in National Fuel Gas by 5.3% in the first quarter. Inspire Investing LLC now owns 3,465 shares of the oil and gas producer's stock valued at $326,000 after acquiring an additional 174 shares during the last quarter. 73.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on NFG. KeyCorp began coverage on shares of National Fuel Gas in a report on Tuesday, April 7th. They set an "overweight" rating and a $110.00 target price for the company. Weiss Ratings downgraded National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $105.50.

National Fuel Gas Stock Down 2.2%

Shares of NYSE NFG opened at $80.69 on Tuesday. The stock has a market cap of $7.67 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.79 and a beta of 0.37. The firm has a 50 day moving average price of $78.81 and a 200 day moving average price of $84.46. 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 Company has a 52-week low of $75.17 and a 52-week high of $97.06.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.14). The firm had revenue of $858.37 million during the quarter, compared to analyst estimates of $856.57 million. National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.The company's revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the business posted $2.39 earnings per share. Analysts expect that National Fuel Gas Company will post 7.66 EPS for the current year.

National Fuel Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued 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 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, June 30th. National Fuel Gas's dividend payout ratio is presently 30.04%.

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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