Optas LLC Takes Position in National Fuel Gas Company (NYSE:NFG)

Optas LLC acquired a new position in National Fuel Gas Company (NYSE:NFG - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,045 shares of the oil and gas producer's stock, valued at approximately $241,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of National Fuel Gas by 3.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,584,155 shares of the oil and gas producer's stock worth $156,807,000 after acquiring an additional 85,950 shares during the last quarter. Geode Capital Management LLC boosted its holdings in National Fuel Gas by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 2,199,787 shares of the oil and gas producer's stock valued at $146,502,000 after purchasing an additional 117,351 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in National Fuel Gas by 5.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,447,665 shares of the oil and gas producer's stock valued at $87,844,000 after purchasing an additional 70,332 shares in the last quarter. Norges Bank purchased a new stake in National Fuel Gas during the 4th quarter worth approximately $67,393,000. Finally, Northern Trust Corp increased its holdings in National Fuel Gas by 37.9% during the 4th quarter. Northern Trust Corp now owns 1,019,072 shares of the oil and gas producer's stock worth $61,837,000 after purchasing an additional 279,857 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company's stock.

National Fuel Gas Stock Performance

NYSE:NFG traded up $0.85 during trading hours on Thursday, reaching $85.42. 694,767 shares of the stock were exchanged, compared to its average volume of 559,257. The stock has a market capitalization of $7.72 billion, a P/E ratio of 198.66, a P/E/G ratio of 0.54 and a beta of 0.62. The firm has a 50 day simple moving average of $80.76 and a 200-day simple moving average of $73.36. The company has a quick ratio of 0.43, a current ratio of 0.47 and a debt-to-equity ratio of 0.86. National Fuel Gas Company has a 52 week low of $53.88 and a 52 week high of $85.80.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.21. National Fuel Gas had a return on equity of 18.55% and a net margin of 1.91%. The business had revenue of $729.95 million for the quarter, compared to analyst estimates of $770.81 million. During the same period in the prior year, the company posted $1.79 EPS. The business's revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts forecast that National Fuel Gas Company will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.535 dividend. This is an increase from National Fuel Gas's previous quarterly dividend of $0.52. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Monday, June 30th. National Fuel Gas's dividend payout ratio (DPR) is presently 497.67%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NFG. JPMorgan Chase & Co. increased their target price on National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a research note on Thursday, March 13th. Wall Street Zen raised shares of National Fuel Gas from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Bank of America raised their price objective on shares of National Fuel Gas from $77.00 to $85.00 and gave the stock an "underperform" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $82.33.

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.