Man Group plc Takes $6.34 Million Position in National Fuel Gas Company $NFG

Key Points

• Man Group plc purchased 82,115 shares of National Fuel Gas in the second quarter, valued at approximately $6.34 million and representing 0.09% of the company. Institutional investors and hedge funds collectively own 73.96% of NFG.
• National Fuel Gas beat quarterly EPS expectations, reporting $1.54 versus the $1.44 consensus, although revenue of $537.5 million fell short of estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $105.50.
• The company increased its quarterly dividend to $0.555 per share, equivalent to an annualized $2.22 dividend and a 2.7% yield.

Man Group plc purchased a new position in shares of National Fuel Gas Company (NYSE:NFG - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 82,115 shares of the oil and gas producer's stock, valued at approximately $6,340,000. Man Group plc owned 0.09% of National Fuel Gas at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of National Fuel Gas in the 2nd quarter valued at $7,983,000. Oppenheimer & Co. Inc. boosted its holdings in National Fuel Gas by 84.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 61,728 shares of the oil and gas producer's stock valued at $4,942,000 after acquiring an additional 28,293 shares during the period. Kayne Anderson Capital Advisors LP purchased a new position in National Fuel Gas during the 2nd quarter valued at about $4,614,000. Vaughan Nelson Investment Management L.P. acquired a new position in National Fuel Gas in the 1st quarter valued at about $63,863,000. Finally, Principal Financial Group Inc. grew its position in National Fuel Gas by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 212,091 shares of the oil and gas producer's stock valued at $19,928,000 after acquiring an additional 17,713 shares in the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFG has been the topic of several recent research reports. Weiss Ratings downgraded shares of National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Wall Street Zen cut shares of National Fuel Gas from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $105.50.

National Fuel Gas Price Performance

Shares of NYSE NFG opened at $82.97 on Friday. The stock's 50-day simple moving average is $80.71 and its 200-day simple moving average is $84.49. The firm has a market capitalization of $7.89 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.84 and a beta of 0.37. National Fuel Gas Company has a fifty-two week low of $75.17 and a fifty-two week high of $97.06. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.07 and a current ratio of 3.20.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.10. The business had revenue of $537.50 million during the quarter, compared to analysts' expectations of $564.33 million. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.64 EPS. As a group, equities research analysts forecast that National Fuel Gas Company will post 7.5 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.555 per share. The ex-dividend date of this dividend 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%.

National Fuel Gas 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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