Meeder Asset Management Inc. Boosts Stock Holdings in National Fuel Gas Company (NYSE:NFG)

Key Points

• Meeder Asset Management Inc. significantly increased its stake in National Fuel Gas Company by 273.5%, acquiring over 98,000 additional shares and bringing its total to approximately 134,279 shares worth about $10.6 million.
• The company's stock price has experienced fluctuations, currently standing at $86.00, with a one-year low of $56.29 and high of $89.82, while analysts predict an EPS of 6.64 for the current fiscal year.
• National Fuel Gas recently announced a quarterly dividend payment of $0.535 per share, representing a boost from the previous amount, with an annualized yield of 2.49%.

Meeder Asset Management Inc. boosted its holdings in National Fuel Gas Company (NYSE:NFG - Free Report) by 273.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 134,279 shares of the oil and gas producer's stock after purchasing an additional 98,332 shares during the quarter. Meeder Asset Management Inc. owned about 0.15% of National Fuel Gas worth $10,634,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. CIBC Private Wealth Group LLC increased its holdings in National Fuel Gas by 14.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,221 shares of the oil and gas producer's stock worth $76,000 after purchasing an additional 153 shares in the last quarter. Horizon Investment Services LLC grew its stake in National Fuel Gas by 2.5% in the first quarter. Horizon Investment Services LLC now owns 6,618 shares of the oil and gas producer's stock valued at $524,000 after acquiring an additional 162 shares during the period. Donald L. Hagan LLC grew its stake in National Fuel Gas by 1.2% in the first quarter. Donald L. Hagan LLC now owns 15,598 shares of the oil and gas producer's stock valued at $1,235,000 after acquiring an additional 183 shares during the period. Captrust Financial Advisors grew its stake in National Fuel Gas by 2.9% in the fourth quarter. Captrust Financial Advisors now owns 7,288 shares of the oil and gas producer's stock valued at $442,000 after acquiring an additional 204 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in National Fuel Gas by 0.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,746 shares of the oil and gas producer's stock valued at $1,801,000 after acquiring an additional 209 shares during the period. 73.96% of the stock is currently owned by institutional investors.

National Fuel Gas Stock Performance

Shares of NYSE NFG traded down $0.29 during midday trading on Friday, reaching $86.50. The company's stock had a trading volume of 398,403 shares, compared to its average volume of 645,387. The stock has a market capitalization of $7.82 billion, a P/E ratio of 32.52, a PEG ratio of 0.53 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. The firm has a 50 day moving average price of $84.62 and a 200-day moving average price of $78.59. National Fuel Gas Company has a 12-month low of $56.29 and a 12-month high of $89.82.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.14. National Fuel Gas had a return on equity of 21.15% and a net margin of 11.15%. The firm had revenue of $531.83 million during the quarter, compared to the consensus estimate of $596.12 million. During the same quarter in the prior year, the company earned $0.99 EPS. The business's revenue for the quarter was up 27.4% on a year-over-year basis. As a group, equities analysts predict that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen cut National Fuel Gas from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Bank of America raised National Fuel Gas from an "underperform" rating to a "buy" rating and raised their price objective for the company from $85.00 to $107.00 in a research note on Tuesday, July 15th. Finally, Scotiabank increased their price target on 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. 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. According to MarketBeat.com, National Fuel Gas currently has a consensus rating of "Moderate 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.