Jupiter Asset Management Ltd. Acquires New Position in National Fuel Gas Company (NYSE:NFG)

Key Points

• Jupiter Asset Management Ltd. has acquired a new position in National Fuel Gas Company, purchasing 263,825 shares valued at approximately $20.89 million, which represents about 0.29% of the company's stock.
• Analysts have recently upgraded their ratings on National Fuel Gas, with Scotiabank raising the target price from $88 to $98 and Bank of America increasing it from $85 to $107.
• The company recently announced a quarterly dividend increase to $0.535 per share, reflecting a yield of 2.5% with a payout ratio of 80.45%.

Jupiter Asset Management Ltd. purchased a new position in National Fuel Gas Company (NYSE:NFG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 263,825 shares of the oil and gas producer's stock, valued at approximately $20,892,000. Jupiter Asset Management Ltd. owned approximately 0.29% of National Fuel Gas at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. grew its stake in shares of National Fuel Gas by 9,475.0% in the 1st quarter. Assetmark Inc. now owns 383 shares of the oil and gas producer's stock worth $30,000 after buying an additional 379 shares during the last quarter. Inlight Wealth Management LLC bought a new stake in National Fuel Gas in the first quarter worth $40,000. Cranbrook Wealth Management LLC purchased a new stake in shares of National Fuel Gas in the first quarter worth $40,000. Quarry LP bought a new position in shares of National Fuel Gas during the fourth quarter valued at $32,000. Finally, Ameriflex Group Inc. bought a new position in shares of National Fuel Gas during the fourth quarter valued at $36,000. 73.96% of the stock is owned by institutional investors.

National Fuel Gas Stock Performance

Shares of National Fuel Gas stock traded up $0.33 during trading on Wednesday, hitting $87.09. 120,531 shares of the company's stock traded hands, compared to its average volume of 645,653. National Fuel Gas Company has a 1 year low of $58.30 and a 1 year high of $89.82. The business has a 50-day simple moving average of $84.87 and a 200-day simple moving average of $79.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.46 and a quick ratio of 0.39. The stock has a market capitalization of $7.87 billion, a P/E ratio of 32.76, a PEG ratio of 0.51 and a beta of 0.65.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.14. National Fuel Gas had a net margin of 11.15% and a return on equity of 20.81%. The firm had revenue of $531.83 million during the quarter, compared to analyst estimates of $596.12 million. During the same period in the previous year, the business posted $0.99 earnings per share. The business's revenue for the quarter was up 27.4% on a year-over-year basis. As a group, analysts forecast that National Fuel Gas Company will post 6.64 EPS for the current year.

National Fuel Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.535 dividend. This is an increase from National Fuel Gas's previous quarterly dividend of $0.52. The ex-dividend date was Monday, June 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.5%. National Fuel Gas's dividend payout ratio (DPR) is 80.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Scotiabank upped their price target on shares of National Fuel Gas from $88.00 to $98.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Bank of America raised shares of National Fuel Gas from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $107.00 in a report on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of National Fuel Gas from a "hold" rating to a "buy" rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $95.33.

National Fuel Gas 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.