Great Lakes Advisors LLC Invests $1.15 Million in National Fuel Gas Company $NFG

Key Points

• Great Lakes Advisors purchased 14,901 shares of National Fuel Gas worth approximately $1.15 million during the second quarter. Institutional investors collectively own 73.96% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $105.50. Recent quarterly earnings were $1.54 per share, exceeding estimates of $1.44, although revenue fell short of expectations.
• National Fuel Gas increased its quarterly dividend to $0.555 per share, or $2.22 annually, representing a yield of about 2.7%.

Great Lakes Advisors LLC purchased a new stake in shares of National Fuel Gas Company (NYSE:NFG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 14,901 shares of the oil and gas producer's stock, valued at approximately $1,150,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new position in National Fuel Gas during the second quarter valued at about $748,569,000. Energy Income Partners LLC bought a new stake in shares of National Fuel Gas during the 2nd quarter worth about $231,309,000. Price T Rowe Associates Inc. MD increased its holdings in shares of National Fuel Gas by 653.6% during the 4th 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 acquired a new position in shares of National Fuel Gas during the 4th quarter valued at about $92,415,000. Finally, AQR Capital Management LLC raised its stake in shares of National Fuel Gas by 103.4% in the 3rd 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 acquiring an additional 1,087,067 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NFG. Weiss Ratings lowered National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. Wall Street Zen upgraded National Fuel Gas from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $105.50.

National Fuel Gas Stock Down 1.8%

Shares of NFG stock opened at $82.47 on Friday. National Fuel Gas Company has a 12 month low of $75.17 and a 12 month high of $97.06. The company has a quick ratio of 3.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.91. The firm has a market cap of $7.84 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.83 and a beta of 0.37. The stock has a 50 day moving average of $80.05 and a 200-day moving average of $84.54.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings data 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. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The business had revenue of $537.50 million for the quarter, compared to the consensus estimate of $564.33 million. During the same quarter last year, the company posted $1.64 earnings per share. National Fuel Gas's quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts predict that National Fuel Gas Company will post 7.5 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 given a $0.555 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.22 annualized dividend and a yield of 2.7%. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.54. National Fuel Gas's dividend payout ratio (DPR) 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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