Panagora Asset Management Inc. Has $24.88 Million Position in National Fuel Gas Company $NFG

Panagora Asset Management Inc. boosted its holdings in shares of National Fuel Gas Company (NYSE:NFG) by 43.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 310,810 shares of the oil and gas producer’s stock after acquiring an additional 93,685 shares during the quarter. Panagora Asset Management Inc.’s holdings in National Fuel Gas were worth $24,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of NFG. Goldman Sachs Group Inc. boosted its stake in National Fuel Gas by 30.0% during the first 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 in the last quarter. Empowered Funds LLC acquired a new stake in National Fuel Gas during the first quarter worth $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in National Fuel Gas by 3.9% during 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 buying an additional 8,304 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of National Fuel Gas by 79.5% during the first quarter. Focus Partners Wealth now owns 12,729 shares of the oil and gas producer’s stock valued at $1,008,000 after acquiring an additional 5,638 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of National Fuel Gas during the first quarter valued at $138,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

National Fuel Gas stock opened at $76.78 on Tuesday. The stock has a 50-day simple moving average of $83.72 and a 200 day simple moving average of $85.02. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.55. National Fuel Gas Company has a 12-month low of $75.67 and a 12-month high of $97.06. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 1.71 and a beta of 0.37.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.14). National Fuel Gas had a net margin of 27.48% and a return on equity of 20.62%. The business had revenue of $858.37 million during the quarter, compared to the consensus estimate of $856.57 million. During the same period in the prior year, the firm earned $2.39 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, research analysts anticipate that National Fuel Gas Company will post 7.58 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.555 dividend. The ex-dividend date is Tuesday, June 30th. This is a positive change from National Fuel Gas’s previous quarterly dividend of $0.54. This represents a $2.22 dividend on an annualized basis and a yield of 2.9%. National Fuel Gas’s dividend payout ratio is 28.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NFG. KeyCorp began coverage on National Fuel Gas in a report on Tuesday, April 7th. They set an “overweight” rating and a $110.00 price objective for the company. Zacks Research raised National Fuel Gas from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Finally, Weiss Ratings cut National Fuel Gas from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.