Ieq Capital LLC Purchases Shares of 22,241 National Fuel Gas Company $NFG

Ieq Capital LLC purchased a new position in National Fuel Gas Company (NYSE:NFG) during the second quarter, HoldingsChannel.com reports. The fund purchased 22,241 shares of the oil and gas producer’s stock, valued at approximately $1,717,000.

A number of other hedge funds have also recently modified their holdings of NFG. NewEdge Wealth LLC raised its stake in shares of National Fuel Gas by 6.2% during the fourth quarter. NewEdge Wealth LLC now owns 2,680 shares of the oil and gas producer’s stock valued at $215,000 after acquiring an additional 156 shares during the last quarter. Optas LLC increased its holdings in National Fuel Gas by 5.3% during the 1st quarter. Optas LLC now owns 3,238 shares of the oil and gas producer’s stock valued at $304,000 after purchasing an additional 163 shares during the period. Brooklyn Investment Group increased its holdings in National Fuel Gas by 7.5% during the 3rd quarter. Brooklyn Investment Group now owns 2,434 shares of the oil and gas producer’s stock valued at $225,000 after purchasing an additional 169 shares during the period. Inspire Investing LLC raised its position in National Fuel Gas by 5.3% during the 1st quarter. Inspire Investing LLC now owns 3,465 shares of the oil and gas producer’s stock valued at $326,000 after purchasing an additional 174 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in National Fuel Gas by 1.1% during the 3rd quarter. Advisory Services Network LLC now owns 16,732 shares of the oil and gas producer’s stock valued at $1,546,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

Shares of NFG opened at $82.29 on Wednesday. The company has a 50-day simple moving average of $80.27 and a two-hundred day simple moving average of $84.53. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.20 and a quick ratio of 3.07. The firm has a market capitalization of $7.82 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.83 and a beta of 0.37. National Fuel Gas Company has a one year low of $75.17 and a one year high of $97.06.

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 (EPS) 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 firm had revenue of $537.50 million during the quarter, compared to analyst estimates of $564.33 million. During the same quarter in the prior year, the company earned $1.64 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that National Fuel Gas Company will post 7.5 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.555 dividend. 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%. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.54. National Fuel Gas’s payout ratio is currently 30.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NFG. Weiss Ratings lowered National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Wall Street Zen upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.50.

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.