National Fuel Gas Company $NFG Stock Position Raised by California Public Employees Retirement System

California Public Employees Retirement System increased its position in National Fuel Gas Company (NYSE:NFG) by 3.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 224,408 shares of the oil and gas producer’s stock after purchasing an additional 7,025 shares during the period. California Public Employees Retirement System’s holdings in National Fuel Gas were worth $21,085,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisortrust Partners LLC grew its position in National Fuel Gas by 11.1% during the 1st quarter. Advisortrust Partners LLC now owns 4,515 shares of the oil and gas producer’s stock worth $424,000 after purchasing an additional 451 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of National Fuel Gas by 5.4% in the first quarter. Catalyst Capital Advisors LLC now owns 33,775 shares of the oil and gas producer’s stock valued at $3,173,000 after purchasing an additional 1,730 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of National Fuel Gas by 0.7% in the first quarter. Bessemer Group Inc. now owns 39,208 shares of the oil and gas producer’s stock worth $3,684,000 after buying an additional 266 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of National Fuel Gas by 17.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 372,355 shares of the oil and gas producer’s stock worth $34,581,000 after buying an additional 56,602 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of National Fuel Gas by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 947,563 shares of the oil and gas producer’s stock valued at $89,033,000 after buying an additional 24,003 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

Shares of NFG stock opened at $82.93 on Thursday. National Fuel Gas Company has a fifty-two week low of $75.17 and a fifty-two week high of $97.06. The stock’s 50-day moving average is $78.82 and its two-hundred day moving average is $84.45. 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 firm has a market cap of $7.88 billion, a P/E ratio of 11.22, a PEG ratio of 1.76 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 firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.39 earnings per share. Analysts predict that National Fuel Gas Company will post 7.66 earnings per share 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. Shareholders of record on Tuesday, June 30th were paid a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 2.7%. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, June 30th. National Fuel Gas’s dividend payout ratio is presently 30.04%.

Wall Street Analyst Weigh In

NFG has been the topic of several recent analyst reports. Weiss Ratings lowered National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. KeyCorp initiated coverage on National Fuel Gas in a research report on Tuesday, April 7th. They set an “overweight” rating and a $110.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.50.

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.