Louisiana State Employees Retirement System Invests $2.59 Million in National Fuel Gas Company $NFG

Louisiana State Employees Retirement System purchased a new stake in National Fuel Gas Company (NYSE:NFG) in the first quarter, according to its most recent filing with the SEC. The fund purchased 27,600 shares of the oil and gas producer’s stock, valued at approximately $2,593,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairscale Capital LLC acquired a new position in National Fuel Gas in the fourth quarter worth $29,000. HM Payson & Co. bought a new stake in National Fuel Gas during the fourth quarter valued at $29,000. Eastern Bank acquired a new stake in shares of National Fuel Gas during the fourth quarter worth $42,000. SHP Wealth Management acquired a new stake in shares of National Fuel Gas during the fourth quarter worth $44,000. Finally, Torren Management LLC bought a new position in shares of National Fuel Gas in the 4th quarter worth about $49,000. 73.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

National Fuel Gas Price Performance

Shares of NYSE NFG opened at $78.24 on Monday. National Fuel Gas Company has a 1-year low of $75.17 and a 1-year high of $97.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.62 and a quick ratio of 0.55. The business’s fifty day moving average price is $80.69 and its two-hundred day moving average price is $84.69. The firm has a market capitalization of $7.44 billion, a PE ratio of 10.59, a P/E/G ratio of 1.73 and a beta of 0.37.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings results 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 firm had revenue of $858.37 million for the quarter, compared to analyst estimates of $856.57 million. National Fuel Gas had a net margin of 27.48% and a return on equity of 20.62%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm posted $2.39 EPS. On average, research analysts expect that National Fuel Gas Company will post 7.58 EPS for the current year.

National Fuel Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.555 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.22 annualized dividend and a yield of 2.8%. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.54. National Fuel Gas’s payout ratio is 28.96%.

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.