Ieq Capital LLC Invests $1.72 Million in National Fuel Gas Company $NFG

Key Points

• Ieq Capital acquired 22,241 shares of National Fuel Gas in the second quarter, worth approximately $1.72 million. Institutional investors collectively own 73.96% of the company.
• National Fuel Gas beat quarterly earnings expectations, reporting $1.54 EPS versus the $1.44 consensus, while revenue rose 1.1% year over year to $537.5 million.
• The company increased its quarterly dividend to $0.555 per share, equivalent to a 2.7% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $105.50.

Ieq Capital LLC bought a new position in National Fuel Gas Company (NYSE:NFG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,241 shares of the oil and gas producer's stock, valued at approximately $1,717,000.

Several other large investors have also recently modified their holdings of NFG. NewEdge Wealth LLC grew its position in shares of National Fuel Gas by 6.2% in the fourth quarter. NewEdge Wealth LLC now owns 2,680 shares of the oil and gas producer's stock valued at $215,000 after purchasing an additional 156 shares in the last quarter. Optas LLC raised its position in shares of 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 worth $304,000 after buying an additional 163 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of National Fuel Gas by 7.5% in the 3rd quarter. Brooklyn Investment Group now owns 2,434 shares of the oil and gas producer's stock valued at $225,000 after acquiring an additional 169 shares in the last quarter. Inspire Investing LLC raised 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 purchasing an additional 174 shares in the last quarter. Finally, Advisory Services Network LLC lifted its position in National Fuel Gas by 1.1% during the third quarter. Advisory Services Network LLC now owns 16,732 shares of the oil and gas producer's stock valued at $1,546,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company's stock.

National Fuel Gas Price Performance

Shares of NYSE:NFG opened at $82.29 on Wednesday. The stock has a market cap of $7.82 billion, a PE ratio of 11.43, a PEG ratio of 1.83 and a beta of 0.37. The company's fifty day moving average is $80.27 and its 200 day moving average is $84.53. National Fuel Gas Company has a 52 week low of $75.17 and a 52 week 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.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly 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 net margin of 26.97% and a return on equity of 19.04%. The business had revenue of $537.50 million during the quarter, compared to the consensus estimate of $564.33 million. During the same period in the previous year, the firm posted $1.64 earnings per share. The firm'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 7.5 earnings per share for the current year.

National Fuel Gas Increases Dividend

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

Analysts Set New Price Targets

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

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