National Fuel Gas Company $NFG Stock: Equity Investment Corp Grows Holdings

Key Points

• Equity Investment Corp increased its National Fuel Gas stake by 30.8% in the third quarter, adding 312,062 shares to hold 1.33 million shares valued at about $100.5 million. Other institutional investors also expanded positions, and institutions collectively own nearly 74% of the company.
• National Fuel Gas reported quarterly EPS of $1.22, beating estimates of $1.04, while revenue of $467.85 million fell short of forecasts; revenue rose 2.5% year over year.
• The company’s quarterly dividend is $0.555 per share, equivalent to an annualized $2.22 and a 3.0% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $105.50.

Equity Investment Corp lifted its stake in shares of National Fuel Gas Company (NYSE:NFG - Free Report) by 30.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,325,019 shares of the oil and gas producer's stock after purchasing an additional 312,062 shares during the quarter. National Fuel Gas comprises 1.4% of Equity Investment Corp's investment portfolio, making the stock its 28th biggest holding. Equity Investment Corp owned about 1.39% of National Fuel Gas worth $100,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in NFG. AlphaCore Capital LLC grew its position in National Fuel Gas by 6.6% in the 3rd quarter. AlphaCore Capital LLC now owns 6,674 shares of the oil and gas producer's stock valued at $510,000 after purchasing an additional 414 shares during the period. Allspring Global Investments Holdings LLC increased its stake in National Fuel Gas by 25.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 623,038 shares of the oil and gas producer's stock valued at $47,513,000 after purchasing an additional 127,381 shares in the last quarter. M Holdings Securities Inc. bought a new stake in National Fuel Gas during the 3rd quarter valued at $605,000. Brighton Jones LLC raised its holdings in National Fuel Gas by 6.1% during the third quarter. Brighton Jones LLC now owns 4,717 shares of the oil and gas producer's stock worth $358,000 after buying an additional 270 shares during the last quarter. Finally, Alps Advisors Inc. raised its holdings in National Fuel Gas by 27.3% during the third quarter. Alps Advisors Inc. now owns 46,799 shares of the oil and gas producer's stock worth $3,550,000 after buying an additional 10,035 shares during the last quarter. Institutional investors own 73.96% of the company's stock.

National Fuel Gas Stock Performance

Shares of National Fuel Gas stock opened at $74.75 on Wednesday. National Fuel Gas Company has a 52 week low of $73.01 and a 52 week high of $97.06. The company has a quick ratio of 1.47, a current ratio of 1.54 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average price of $79.35 and a 200-day moving average price of $83.17. The company has a market cap of $7.10 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.99 and a beta of 0.36.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its earnings results on Wednesday, November 4th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.18. National Fuel Gas had a return on equity of 17.95% and a net margin of 26.46%. The company had revenue of $467.85 million for the quarter, compared to analysts' expectations of $472.38 million. During the same quarter in the previous year, the firm earned $1.22 earnings per share. National Fuel Gas's quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts anticipate that National Fuel Gas Company will post 6.20 earnings per share for the current fiscal year.

National Fuel Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.5550 per share. This represents a $2.22 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, September 30th. National Fuel Gas's payout ratio is currently 31.53%.

Wall Street Analysts Forecast Growth

NFG has been the topic of a number of recent research reports. Wall Street Zen raised shares of National Fuel Gas from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings raised shares of National Fuel Gas from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Finally, KeyCorp reissued an "overweight" rating on shares of National Fuel Gas in a research report on Monday, August 31st. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $105.50.

National Fuel Gas Company Profile

National Fuel Gas Company is a diversified natural gas business founded in 1902 and headquartered in Williamsville, New York. Its operations span natural gas production, gathering and transportation, storage, and local distribution. Through Seneca Resources, the company explores for and produces natural gas, primarily in the Appalachian region. Its pipeline and storage businesses gather, transport, and store natural gas, connecting production areas with markets and other pipeline systems. National Fuel Gas also distributes natural gas to homes and businesses in western New York and northwestern Pennsylvania.

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