Folger Nolan Fleming Douglas Capital Management Inc. Makes New Investment in National Fuel Gas (NYSE:NFG)

Folger Nolan Fleming Douglas Capital Management Inc. acquired a new stake in shares of National Fuel Gas (NYSE:NFG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,048 shares of the oil and gas producer's stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in National Fuel Gas in the fourth quarter valued at about $67,393,000. Northern Trust Corp increased its position in shares of National Fuel Gas by 37.9% during the 4th quarter. Northern Trust Corp now owns 1,019,072 shares of the oil and gas producer's stock valued at $61,837,000 after purchasing an additional 279,857 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of National Fuel Gas in the 4th quarter worth approximately $16,906,000. Raymond James Financial Inc. purchased a new position in shares of National Fuel Gas in the fourth quarter worth approximately $9,067,000. Finally, GAMMA Investing LLC grew its position in National Fuel Gas by 13,154.2% during the first quarter. GAMMA Investing LLC now owns 131,614 shares of the oil and gas producer's stock valued at $10,423,000 after buying an additional 130,621 shares during the period. Institutional investors own 73.96% of the company's stock.

National Fuel Gas Price Performance

Shares of NYSE:NFG traded down $0.46 during midday trading on Monday, reaching $83.69. 370,232 shares of the company were exchanged, compared to its average volume of 558,926. The stock has a market cap of $7.56 billion, a PE ratio of -597.74 and a beta of 0.62. The business's fifty day moving average is $80.13 and its two-hundred day moving average is $73.06. National Fuel Gas has a one year low of $53.03 and a one year high of $85.02. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.21. The firm had revenue of $729.95 million for the quarter, compared to analysts' expectations of $770.81 million. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. The business's revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.79 earnings per share. As a group, analysts predict that National Fuel Gas will post 6.64 earnings per share for the current year.

National Fuel Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Monday, June 30th. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's payout ratio is 479.07%.

Analysts Set New Price Targets

NFG has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on National Fuel Gas from $77.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, March 13th. Wall Street Zen raised shares of National Fuel Gas from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Bank of America increased their price objective on shares of National Fuel Gas from $77.00 to $85.00 and gave the stock an "underperform" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, National Fuel Gas presently has a consensus rating of "Moderate Buy" and an average target price of $82.33.

About National Fuel Gas

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.