VELA Investment Management LLC Grows Stake in National Fuel Gas Company $NFG

VELA Investment Management LLC increased its position in National Fuel Gas Company (NYSE:NFG) by 33.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,956 shares of the oil and gas producer’s stock after acquiring an additional 11,892 shares during the period. VELA Investment Management LLC’s holdings in National Fuel Gas were worth $3,625,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NFG. Freestone Grove Partners LP purchased a new stake in shares of National Fuel Gas during the second quarter worth about $710,000. Oppenheimer Asset Management Inc. bought a new stake in shares of National Fuel Gas in the 2nd quarter worth about $7,983,000. Kayne Anderson Capital Advisors LP bought a new stake in National Fuel Gas during the second quarter worth approximately $4,614,000. Summit Global Investments purchased a new stake in National Fuel Gas during the 2nd quarter valued at $1,101,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of National Fuel Gas in the first quarter valued at $63,863,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

Shares of NYSE NFG opened at $83.29 on Monday. The company’s fifty day moving average price is $81.36 and its 200 day moving average price is $84.39. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.07 and a current ratio of 3.20. National Fuel Gas Company has a 1 year low of $75.17 and a 1 year high of $97.06. The company has a market capitalization of $7.92 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.86 and a beta of 0.37.

National Fuel Gas (NYSE:NFG) last announced its earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share for the quarter, topping the consensus estimate 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 prior year, the company posted $1.64 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts predict that National Fuel Gas Company will post 7.49 earnings per share for the current year.

National Fuel Gas Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on NFG. Weiss Ratings lowered National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Finally, KeyCorp reissued an “overweight” rating on shares of National Fuel Gas in a research report on Monday, August 31st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, National Fuel Gas has an average rating of “Moderate Buy” and an average 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.