Morse Asset Management Inc Purchases 14,110 Shares of National Fuel Gas Company $NFG

Morse Asset Management Inc lifted its position in National Fuel Gas Company (NYSE:NFG) by 3,320.0% in the third quarter, HoldingsChannel.com reports. The firm owned 14,535 shares of the oil and gas producer’s stock after purchasing an additional 14,110 shares during the quarter. Morse Asset Management Inc’s holdings in National Fuel Gas were worth $1,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in National Fuel Gas by 103.4% in the 3rd quarter. AQR Capital Management LLC now owns 2,138,153 shares of the oil and gas producer’s stock worth $197,501,000 after buying an additional 1,087,067 shares in the last quarter. Norges Bank bought a new stake in National Fuel Gas during the second quarter valued at about $91,964,000. Qube Research & Technologies Ltd lifted its position in shares of National Fuel Gas by 642.7% in the second quarter. Qube Research & Technologies Ltd now owns 465,830 shares of the oil and gas producer’s stock valued at $39,460,000 after acquiring an additional 403,107 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of National Fuel Gas by 428.8% in the third quarter. Squarepoint Ops LLC now owns 308,466 shares of the oil and gas producer’s stock worth $28,493,000 after acquiring an additional 250,130 shares during the period. Finally, Jupiter Asset Management Ltd. grew its position in shares of National Fuel Gas by 99.6% during the third quarter. Jupiter Asset Management Ltd. now owns 465,254 shares of the oil and gas producer’s stock worth $42,976,000 after purchasing an additional 232,130 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Scotiabank set a $101.00 price target on National Fuel Gas in a research note on Wednesday, January 21st. Zacks Research upgraded shares of National Fuel Gas from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of National Fuel Gas in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.00.

National Fuel Gas Price Performance

NFG stock opened at $94.63 on Tuesday. National Fuel Gas Company has a 52 week low of $69.93 and a 52 week high of $97.06. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $85.96 and a two-hundred day simple moving average of $84.57. The firm has a market capitalization of $8.99 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.24 and a beta of 0.57.

National Fuel Gas (NYSE:NFG) last posted its earnings results on Thursday, January 29th. The oil and gas producer reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.15. The firm had revenue of $651.51 million for the quarter, compared to the consensus estimate of $650.70 million. National Fuel Gas had a net margin of 27.65% and a return on equity of 21.45%. The business’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 EPS. Analysts anticipate that National Fuel Gas Company will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.535 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.14 annualized dividend and a yield of 2.3%. National Fuel Gas’s dividend payout ratio (DPR) is currently 29.85%.

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.