The Manufacturers Life Insurance Company Invests $8.80 Million in National Fuel Gas Company $NFG

The Manufacturers Life Insurance Company bought a new stake in shares of National Fuel Gas Company (NYSE:NFG) in the 2nd quarter, HoldingsChannel reports. The fund bought 114,012 shares of the oil and gas producer’s stock, valued at approximately $8,803,000.

A number of other large investors have also bought and sold shares of NFG. SJS Investment Consulting Inc. lifted its holdings in National Fuel Gas by 458.0% during the first quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 229 shares during the last quarter. Fairscale Capital LLC purchased a new position in National Fuel Gas in the 4th quarter worth approximately $29,000. HM Payson & Co. bought a new position in National Fuel Gas in the fourth quarter valued at $29,000. Cassaday & Co Wealth Management LLC bought a new stake in National Fuel Gas in the 1st quarter worth approximately $38,000. Finally, SHP Wealth Management purchased a new stake in shares of National Fuel Gas in the 4th quarter valued at $44,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NFG has been the subject of several recent research reports. Weiss Ratings downgraded National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Wall Street Zen lowered National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.50.

National Fuel Gas Stock Performance

Shares of NYSE NFG opened at $82.97 on Friday. The company has a quick ratio of 3.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.91. National Fuel Gas Company has a 52-week low of $75.17 and a 52-week high of $97.06. The company has a market cap of $7.89 billion, a PE ratio of 11.52, a PEG ratio of 1.84 and a beta of 0.37. The firm’s 50-day moving average price is $80.71 and its 200-day moving average price is $84.49.

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, beating analysts’ consensus estimates of $1.44 by $0.10. The business had revenue of $537.50 million during the quarter, compared to analyst estimates of $564.33 million. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 EPS. As a group, 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. This is a positive change from National Fuel Gas’s previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, June 30th. This represents a $2.22 annualized dividend and a dividend yield of 2.7%. National Fuel Gas’s dividend payout ratio (DPR) is currently 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.