Vestcor Inc Has $1.38 Million Stake in National Fuel Gas Company (NYSE:NFG)

Key Points

• Vestcor Inc has significantly increased its stake in National Fuel Gas Company by 61.9%, owning 17,390 shares valued at approximately $1.38 million as of the latest SEC filing.
• National Fuel Gas recently increased its quarterly dividend to $0.535 per share, reflecting a yield of 2.5% and a dividend payout ratio of 80.45%.
• Analysts have raised their price targets for National Fuel Gas, with Bank of America upgrading its rating to "buy" and increasing the price target from $85.00 to $107.00.

Vestcor Inc raised its position in National Fuel Gas Company (NYSE:NFG - Free Report) by 61.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,390 shares of the oil and gas producer's stock after acquiring an additional 6,651 shares during the quarter. Vestcor Inc's holdings in National Fuel Gas were worth $1,377,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NFG. Assetmark Inc. grew its position in shares of National Fuel Gas by 9,475.0% during the first quarter. Assetmark Inc. now owns 383 shares of the oil and gas producer's stock worth $30,000 after buying an additional 379 shares in the last quarter. Inlight Wealth Management LLC acquired a new stake in shares of National Fuel Gas during the first quarter worth approximately $40,000. Cranbrook Wealth Management LLC bought a new position in National Fuel Gas during the first quarter worth $40,000. Quarry LP bought a new position in National Fuel Gas during the fourth quarter worth $32,000. Finally, Ameriflex Group Inc. bought a new position in National Fuel Gas during the fourth quarter worth $36,000. Institutional investors and hedge funds own 73.96% of the company's stock.

National Fuel Gas Stock Performance

Shares of NFG traded up $0.73 during trading hours on Monday, reaching $87.38. 367,180 shares of the company's stock traded hands, compared to its average volume of 646,858. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 0.51 and a beta of 0.65. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.46 and a quick ratio of 0.39. National Fuel Gas Company has a twelve month low of $56.29 and a twelve month high of $89.82. The business's fifty day simple moving average is $84.71 and its two-hundred day simple moving average is $78.91.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.14. National Fuel Gas had a return on equity of 20.81% and a net margin of 11.15%. The company had revenue of $531.83 million for the quarter, compared to analyst estimates of $596.12 million. During the same period last year, the company earned $0.99 earnings per share. The company's quarterly revenue was up 27.4% compared to the same quarter last year. Analysts predict that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.535 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.14 dividend on an annualized basis and a yield of 2.4%. This is an increase from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's dividend payout ratio (DPR) is 80.45%.

Wall Street Analyst Weigh In

NFG has been the topic of several research analyst reports. Scotiabank raised their price objective on National Fuel Gas from $88.00 to $98.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Bank of America upgraded National Fuel Gas from an "underperform" rating to a "buy" rating and raised their target price for the company from $85.00 to $107.00 in a research note on Tuesday, July 15th. Finally, Wall Street Zen upgraded National Fuel Gas from a "hold" rating to a "buy" rating in a research note on Saturday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, National Fuel Gas has a consensus rating of "Buy" and an average price target of $95.33.

National Fuel Gas Company 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.