WNY Asset Management LLC Invests $2.44 Million in National Fuel Gas Company $NFG

Key Points

• WNY Asset Management acquired 31,586 National Fuel Gas shares worth approximately $2.44 million in the second quarter, while institutional investors collectively own 73.96% of the company.
• National Fuel Gas reported quarterly EPS of $1.54, exceeding the $1.44 analyst consensus, although revenue of $537.5 million fell short of estimates. Shares opened at $82.95, with a 52-week range of $75.17 to $97.06.
• The company raised its quarterly dividend to $0.555 per share, or $2.22 annualized, representing a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $105.50.

WNY Asset Management LLC bought a new stake in shares of National Fuel Gas Company (NYSE:NFG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,586 shares of the oil and gas producer's stock, valued at approximately $2,439,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in National Fuel Gas by 30.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 159,953 shares of the oil and gas producer's stock worth $12,667,000 after buying an additional 36,913 shares during the last quarter. Empowered Funds LLC purchased a new stake in National Fuel Gas in the first quarter valued at about $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in National Fuel Gas by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,730 shares of the oil and gas producer's stock worth $17,480,000 after acquiring an additional 8,304 shares in the last quarter. Focus Partners Wealth boosted its holdings in National Fuel Gas by 79.5% in the first quarter. Focus Partners Wealth now owns 12,729 shares of the oil and gas producer's stock worth $1,008,000 after acquiring an additional 5,638 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of National Fuel Gas during the first quarter worth about $138,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

National Fuel Gas Price Performance

Shares of NYSE NFG opened at $82.95 on Friday. National Fuel Gas Company has a 52 week low of $75.17 and a 52 week high of $97.06. The business's 50 day moving average price is $80.57 and its 200 day moving average price is $84.50. The company has a quick ratio of 3.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.91. The firm has a market cap of $7.88 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.86 and a beta of 0.37.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.10. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The company had revenue of $537.50 million during the quarter, compared to analyst estimates of $564.33 million. During the same period last year, the firm posted $1.64 EPS. National Fuel Gas's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that National Fuel Gas Company will post 7.5 earnings per share for the current year.

National Fuel Gas Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend 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 dividend payout ratio is 30.83%.

Analysts Set New Price Targets

A number of analysts recently commented on NFG shares. Wall Street Zen upgraded shares of National Fuel Gas from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings cut shares of National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $105.50.

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.

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