Equity Investment Corp Makes New Investment in National Fuel Gas Company $NFG

Equity Investment Corp purchased a new stake in shares of National Fuel Gas Company (NYSE:NFG) during the second quarter, Holdings Channel reports. The fund purchased 1,012,957 shares of the oil and gas producer’s stock, valued at approximately $78,210,000.

A number of other large investors have also added to or reduced their stakes in NFG. BlackRock Inc. bought a new stake in National Fuel Gas during the 2nd quarter worth approximately $748,569,000. Energy Income Partners LLC bought a new stake in shares of National Fuel Gas in the 2nd quarter valued at about $231,309,000. Price T Rowe Associates Inc. MD raised its position in shares of National Fuel Gas by 653.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,582,782 shares of the oil and gas producer’s stock worth $126,718,000 after acquiring an additional 1,372,742 shares during the last quarter. Norges Bank acquired a new position in shares of National Fuel Gas in the fourth quarter worth approximately $92,415,000. Finally, AQR Capital Management LLC boosted its holdings in National Fuel Gas by 103.4% in the third quarter. AQR Capital Management LLC now owns 2,138,153 shares of the oil and gas producer’s stock valued at $197,501,000 after acquiring an additional 1,087,067 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NFG shares. Weiss Ratings lowered shares of National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Wall Street Zen raised shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, National Fuel Gas has a consensus rating of “Moderate Buy” and a consensus price target of $105.50.

National Fuel Gas Stock Up 2.0%

Shares of National Fuel Gas stock opened at $83.49 on Wednesday. The stock’s 50-day moving average is $79.68 and its 200 day moving average is $84.55. National Fuel Gas Company has a one year low of $75.17 and a one year high of $97.06. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.82 and a beta of 0.37. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.20 and a quick ratio of 3.07.

National Fuel Gas (NYSE:NFG) last issued its earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.10. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The business had revenue of $537.50 million during the quarter, compared to the consensus estimate of $564.33 million. During the same period in the previous year, the company posted $1.64 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts anticipate that National Fuel Gas Company will post 7.5 EPS for the current year.

National Fuel Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.555 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.22 annualized dividend and a dividend yield of 2.7%. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.54. National Fuel Gas’s dividend payout ratio (DPR) is presently 30.83%.

About National Fuel Gas

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.