Meiji Yasuda Asset Management Co Ltd. Invests $6.82 Million in National Fuel Gas Company $NFG

Key Points

• Meiji Yasuda Asset Management acquired 88,384 shares of National Fuel Gas worth approximately $6.82 million, giving it a 0.09% stake. Institutional investors collectively own 73.96% of the company.
• National Fuel Gas reported quarterly EPS of $1.54, beating analyst expectations of $1.44, although revenue of $537.5 million fell short of the $564.33 million consensus estimate.
• The company raised its quarterly dividend to $0.555 per share, equivalent to an annualized $2.22 payout and a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with a $105.50 price target.

Meiji Yasuda Asset Management Co Ltd. acquired a new position in National Fuel Gas Company (NYSE:NFG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 88,384 shares of the oil and gas producer's stock, valued at approximately $6,824,000. Meiji Yasuda Asset Management Co Ltd. owned about 0.09% of National Fuel Gas at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NFG. NewEdge Wealth LLC raised its position in 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 worth $215,000 after acquiring an additional 156 shares during the period. Optas LLC boosted its stake in shares of National Fuel Gas by 5.3% during the 1st quarter. Optas LLC now owns 3,238 shares of the oil and gas producer's stock worth $304,000 after acquiring an additional 163 shares during the last quarter. Brooklyn Investment Group grew its position in shares of National Fuel Gas by 7.5% during 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 during the period. Inspire Investing LLC grew its position in shares of National Fuel Gas by 5.3% during the 1st quarter. Inspire Investing LLC now owns 3,465 shares of the oil and gas producer's stock valued at $326,000 after acquiring an additional 174 shares during the period. Finally, Advisory Services Network LLC grew its position in shares of National Fuel Gas by 1.1% during the 3rd quarter. Advisory Services Network LLC now owns 16,732 shares of the oil and gas producer's stock valued at $1,546,000 after acquiring an additional 175 shares during the period. 73.96% of the stock is currently owned by institutional investors.

National Fuel Gas Trading Down 0.0%

Shares of NFG stock opened at $82.47 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.07 and a current ratio of 3.20. The stock has a fifty day simple moving average of $80.05 and a two-hundred day simple moving average of $84.55. The firm has a market capitalization of $7.84 billion, a PE ratio of 11.45, a PEG ratio of 1.83 and a beta of 0.37. National Fuel Gas Company has a 52-week low of $75.17 and a 52-week high of $97.06.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.54 EPS for the quarter, beating the consensus estimate of $1.44 by $0.10. The business had revenue of $537.50 million for the quarter, compared to the consensus estimate of $564.33 million. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The business's revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 earnings per share. On average, analysts predict that National Fuel Gas Company will post 7.5 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.555 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.22 dividend on an annualized basis 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 payout ratio is presently 30.83%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NFG. Wall Street Zen raised National Fuel Gas from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings lowered National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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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