Summit Global Investments Purchases Shares of 14,254 National Fuel Gas Company $NFG

Key Points

• Summit Global Investments purchased 14,254 shares of National Fuel Gas in the second quarter, valued at approximately $1.1 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, although revenue of $537.5 million fell short of estimates. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $105.50.
• The company increased its quarterly dividend to $0.555 per share, representing an annualized dividend of $2.22 and a yield of approximately 2.7%.

Summit Global Investments purchased a new position in National Fuel Gas Company (NYSE:NFG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,254 shares of the oil and gas producer's stock, valued at approximately $1,101,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SJS Investment Consulting Inc. grew its position in shares of National Fuel Gas by 458.0% during 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 in the last quarter. Fairscale Capital LLC purchased a new stake in shares of National Fuel Gas in the fourth quarter worth about $29,000. HM Payson & Co. purchased a new stake in shares of National Fuel Gas in the fourth quarter worth about $29,000. Cassaday & Co Wealth Management LLC bought a new position in National Fuel Gas during the first quarter valued at approximately $38,000. Finally, SHP Wealth Management bought a new position in National Fuel Gas during the fourth quarter valued at approximately $44,000. Institutional investors own 73.96% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on NFG shares. Weiss Ratings downgraded National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Wall Street Zen raised National Fuel Gas from a "sell" rating to a "hold" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $105.50.

National Fuel Gas Stock Up 0.5%

NYSE:NFG opened at $81.91 on Friday. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.81 and a beta of 0.37. National Fuel Gas Company has a twelve month low of $75.17 and a twelve month high of $97.06. The company has a current ratio of 3.20, a quick ratio of 3.07 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $79.44 and a 200-day simple moving average of $84.55.

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

National Fuel Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.555 dividend. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.22 annualized dividend and a yield of 2.7%. National Fuel Gas's dividend payout ratio is presently 30.83%.

National Fuel Gas 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.

Want to see what other hedge funds are holding NFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Fuel Gas Company (NYSE:NFG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source