Public Employees Retirement System of Ohio Takes Position in National Fuel Gas Company $NFG

Key Points

• Public Employees Retirement System of Ohio bought 34,056 shares of National Fuel Gas in the second quarter, valued at approximately $2.63 million. Institutional investors collectively own 73.96% of the company.
• National Fuel Gas reported quarterly EPS of $1.54, exceeding analyst expectations of $1.44, while revenue reached $537.5 million, up 1.1% year over year but below estimates.
• The company raised its quarterly dividend to $0.555 per share, equivalent to an annualized $2.22 dividend and a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $105.50 versus the stock’s reported $83.29 price.

Public Employees Retirement System of Ohio purchased a new position in National Fuel Gas Company (NYSE:NFG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 34,056 shares of the oil and gas producer's stock, valued at approximately $2,629,000.

Other hedge funds have also recently made changes to their positions in the company. SJS Investment Consulting Inc. grew its stake in National Fuel Gas by 458.0% in the first quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 229 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of National Fuel Gas during the 4th quarter worth approximately $29,000. HM Payson & Co. purchased a new stake in shares of National Fuel Gas during the 4th quarter valued at $29,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of National Fuel Gas during the 1st quarter valued at $38,000. Finally, SHP Wealth Management acquired a new stake in shares of National Fuel Gas in the 4th quarter worth $44,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

National Fuel Gas Stock Performance

NYSE NFG opened at $83.29 on Friday. 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. The firm has a market capitalization of $7.92 billion, a P/E ratio of 11.57, a PEG ratio of 1.86 and a beta of 0.37. The stock has a 50-day simple moving average of $81.36 and a two-hundred day simple moving average of $84.41.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.10. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The company had revenue of $537.50 million during the quarter, compared to analysts' expectations of $564.33 million. During the same period last year, the business earned $1.64 earnings per share. National Fuel Gas's quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts forecast that National Fuel Gas Company will post 7.49 earnings per share for the current year.

National Fuel Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.555 per share. 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. The ex-dividend date of this dividend was Tuesday, June 30th. National Fuel Gas's payout ratio is currently 30.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NFG shares. Wall Street Zen lowered National Fuel Gas from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Weiss Ratings downgraded National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. Finally, KeyCorp restated an "overweight" rating on shares of National Fuel Gas in a research note on Monday, August 31st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $105.50.

National Fuel Gas Company 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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