Dorsey Wright & Associates Buys New Shares in National Fuel Gas Company $NFG

Dorsey Wright & Associates purchased a new stake in shares of National Fuel Gas Company (NYSE:NFG) during the second quarter, Holdings Channel reports. The firm purchased 23,150 shares of the oil and gas producer’s stock, valued at approximately $1,961,000.

Several other hedge funds have also recently added to or reduced their stakes in NFG. Parallel Advisors LLC increased its position in shares of National Fuel Gas by 2.8% during the 2nd quarter. Parallel Advisors LLC now owns 4,784 shares of the oil and gas producer’s stock valued at $405,000 after purchasing an additional 129 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in National Fuel Gas by 3.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,285 shares of the oil and gas producer’s stock worth $419,000 after buying an additional 156 shares during the last quarter. US Bancorp DE boosted its stake in National Fuel Gas by 0.6% in the second quarter. US Bancorp DE now owns 25,766 shares of the oil and gas producer’s stock worth $2,183,000 after buying an additional 161 shares in the last quarter. UMB Bank n.a. grew its position in National Fuel Gas by 19.6% during the second quarter. UMB Bank n.a. now owns 1,012 shares of the oil and gas producer’s stock valued at $86,000 after acquiring an additional 166 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of National Fuel Gas by 11.7% during the second quarter. GAMMA Investing LLC now owns 1,857 shares of the oil and gas producer’s stock worth $157,000 after acquiring an additional 195 shares in the last quarter. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Trading Up 1.0%

Shares of NFG opened at $81.36 on Wednesday. The stock has a market capitalization of $7.35 billion, a P/E ratio of 30.59, a PEG ratio of 0.45 and a beta of 0.57. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $84.98 and a two-hundred day simple moving average of $84.86. National Fuel Gas Company has a twelve month low of $59.01 and a twelve month high of $94.13.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Thursday, November 6th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. The firm had revenue of $456.41 million for the quarter, compared to analysts’ expectations of $534.57 million. National Fuel Gas had a net margin of 11.15% and a return on equity of 20.81%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 earnings per share. On average, research analysts anticipate that National Fuel Gas Company will post 6.64 EPS for the current year.

National Fuel Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.535 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.14 dividend on an annualized basis and a yield of 2.6%. National Fuel Gas’s dividend payout ratio is presently 37.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NFG shares. Zacks Research cut shares of National Fuel Gas from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Scotiabank lowered shares of National Fuel Gas from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $102.00 to $106.00 in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of National Fuel Gas in a research note on Monday. Finally, Wall Street Zen downgraded National Fuel Gas from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $98.00.

About National Fuel Gas

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.