Equity Investment Corp Cuts Stock Position in National Fuel Gas Company $NFG

Equity Investment Corp lessened its position in National Fuel Gas Company (NYSE:NFG) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,027,278 shares of the oil and gas producer’s stock after selling 15,712 shares during the quarter. Equity Investment Corp’s holdings in National Fuel Gas were worth $82,244,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NFG. Hantz Financial Services Inc. increased its holdings in National Fuel Gas by 105.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 423 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 217 shares during the period. Eastern Bank purchased a new stake in National Fuel Gas during the 4th quarter worth about $42,000. Torren Management LLC purchased a new stake in National Fuel Gas during the 4th quarter worth about $49,000. EverSource Wealth Advisors LLC increased its holdings in National Fuel Gas by 88.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 916 shares of the oil and gas producer’s stock worth $78,000 after purchasing an additional 429 shares during the period. Finally, Clearstead Advisors LLC increased its holdings in National Fuel Gas by 184.8% during the 3rd quarter. Clearstead Advisors LLC now owns 860 shares of the oil and gas producer’s stock worth $79,000 after purchasing an additional 558 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Analysts Set New Price Targets

NFG has been the topic of several recent research reports. Zacks Research upgraded National Fuel Gas from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings downgraded National Fuel Gas from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday. Finally, KeyCorp initiated coverage on National Fuel Gas in a report on Tuesday, April 7th. They set an “overweight” rating and a $110.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

National Fuel Gas Trading Down 0.3%

NYSE:NFG opened at $76.87 on Friday. The stock has a 50-day simple moving average of $84.38 and a 200-day simple moving average of $85.07. The stock has a market cap of $7.31 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.70 and a beta of 0.37. National Fuel Gas Company has a 1 year low of $75.85 and a 1 year high of $97.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.55 and a current ratio of 0.62.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Thursday, April 30th. The oil and gas producer reported $2.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.14). The business had revenue of $858.37 million for the quarter, compared to analyst estimates of $856.57 million. National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.39 earnings per share. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.555 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.22 annualized dividend and a dividend yield of 2.9%. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.54. National Fuel Gas’s payout ratio is currently 28.96%.

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.