Journey Strategic Wealth LLC Invests $247,000 in National Fuel Gas Company (NYSE:NFG)

Key Points

• Journey Strategic Wealth LLC acquired a stake of 3,124 shares in National Fuel Gas Company, valued at approximately $247,000, during the first quarter of the year.
• National Fuel Gas reported an earnings per share (EPS) of $2.39 for the last quarter, exceeding expectations and showing a year-over-year revenue growth of 15.9%.
• The company recently increased its quarterly dividend to $0.535 per share, representing an annualized dividend of $2.14 and a yield of 2.47%.

Journey Strategic Wealth LLC purchased a new position in National Fuel Gas Company (NYSE:NFG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,124 shares of the oil and gas producer's stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in NFG. Quarry LP acquired a new stake in National Fuel Gas during the fourth quarter valued at $32,000. Ameriflex Group Inc. acquired a new stake in National Fuel Gas during the fourth quarter valued at $36,000. Aster Capital Management DIFC Ltd grew its position in National Fuel Gas by 223.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 656 shares of the oil and gas producer's stock valued at $40,000 after buying an additional 453 shares during the period. Cranbrook Wealth Management LLC acquired a new stake in National Fuel Gas during the first quarter valued at $40,000. Finally, Inlight Wealth Management LLC acquired a new stake in National Fuel Gas during the first quarter valued at $40,000. Hedge funds and other institutional investors own 73.96% of the company's stock.

Analyst Upgrades and Downgrades

NFG has been the topic of several research analyst reports. Scotiabank lifted their target price on shares of National Fuel Gas from $88.00 to $98.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Wall Street Zen lowered shares of National Fuel Gas from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Bank of America upgraded shares of National Fuel Gas from an "underperform" rating to a "buy" rating and lifted their target price for the company from $85.00 to $107.00 in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $95.33.

National Fuel Gas Stock Down 0.7%

Shares of NYSE:NFG traded down $0.60 during trading on Friday, hitting $86.58. 412,022 shares of the company were exchanged, compared to its average volume of 666,124. The stock has a market capitalization of $7.82 billion, a P/E ratio of 201.35, a PEG ratio of 0.51 and a beta of 0.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.47 and a quick ratio of 0.43. National Fuel Gas Company has a 12-month low of $56.29 and a 12-month high of $89.82. The firm's 50 day moving average price is $84.13 and its 200-day moving average price is $78.03.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.18 by $0.21. National Fuel Gas had a net margin of 1.91% and a return on equity of 18.55%. The company had revenue of $729.95 million for the quarter, compared to analyst estimates of $770.81 million. During the same period in the previous year, the business posted $1.79 earnings per share. National Fuel Gas's quarterly revenue was up 15.9% on a year-over-year basis. On average, research analysts predict that National Fuel Gas Company will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.535 dividend. This is an increase from National Fuel Gas's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.14 annualized dividend and a dividend yield of 2.47%. National Fuel Gas's payout ratio is presently 497.67%.

National Fuel Gas Company Profile

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.