Panagora Asset Management Inc. Acquires 93,685 Shares of National Fuel Gas Company $NFG

Panagora Asset Management Inc. boosted its holdings in shares of National Fuel Gas Company (NYSE:NFG) by 43.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 310,810 shares of the oil and gas producer’s stock after acquiring an additional 93,685 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.33% of National Fuel Gas worth $24,883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFG. Goldman Sachs Group Inc. raised its position in National Fuel Gas by 30.0% during the first quarter. Goldman Sachs Group Inc. now owns 159,953 shares of the oil and gas producer’s stock valued at $12,667,000 after acquiring an additional 36,913 shares in the last quarter. Empowered Funds LLC acquired a new position in National Fuel Gas during the first quarter valued at approximately $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in National Fuel Gas by 3.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,730 shares of the oil and gas producer’s stock valued at $17,480,000 after purchasing an additional 8,304 shares during the last quarter. Focus Partners Wealth grew its holdings in National Fuel Gas by 79.5% during the first quarter. Focus Partners Wealth now owns 12,729 shares of the oil and gas producer’s stock valued at $1,008,000 after purchasing an additional 5,638 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in National Fuel Gas during the first quarter valued at approximately $138,000. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Trading Down 1.0%

Shares of National Fuel Gas stock opened at $76.78 on Tuesday. The company’s fifty day simple moving average is $83.72 and its 200-day simple moving average is $85.02. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 1.71 and a beta of 0.37. The company has a current ratio of 0.62, a quick ratio of 0.55 and a debt-to-equity ratio of 0.55. National Fuel Gas Company has a 1 year low of $75.67 and a 1 year high of $97.06.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas producer reported $2.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.14). The company had revenue of $858.37 million during the quarter, compared to analyst estimates of $856.57 million. National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.The company’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.39 EPS. As a group, sell-side analysts expect that National Fuel Gas Company will post 7.58 EPS for the current year.

National Fuel Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.555 per share. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.54. This represents a $2.22 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, June 30th. National Fuel Gas’s dividend payout ratio is presently 28.96%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Weiss Ratings downgraded National Fuel Gas from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, June 8th. KeyCorp assumed coverage on National Fuel Gas in a report on Tuesday, April 7th. They set an “overweight” rating and a $110.00 price target on the stock. Finally, Zacks Research upgraded National Fuel Gas from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $106.00.

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.