Valley Wealth Managers Inc. Buys 10,713 Shares of National Fuel Gas Company $NFG

Valley Wealth Managers Inc. increased its stake in shares of National Fuel Gas Company (NYSE:NFG) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,637 shares of the oil and gas producer’s stock after acquiring an additional 10,713 shares during the quarter. Valley Wealth Managers Inc. owned approximately 0.28% of National Fuel Gas worth $20,531,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of National Fuel Gas during the 2nd quarter worth about $748,569,000. Energy Income Partners LLC raised its stake in National Fuel Gas by 1.1% during the 1st quarter. Energy Income Partners LLC now owns 2,589,824 shares of the oil and gas producer’s stock worth $243,340,000 after buying an additional 28,755 shares during the period. Dimensional Fund Advisors LP boosted its holdings in National Fuel Gas by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,177,958 shares of the oil and gas producer’s stock worth $110,686,000 after acquiring an additional 42,108 shares in the last quarter. First Trust Advisors LP boosted its holdings in National Fuel Gas by 35.7% in the first quarter. First Trust Advisors LP now owns 1,072,487 shares of the oil and gas producer’s stock worth $100,771,000 after acquiring an additional 282,071 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in National Fuel Gas by 2.6% in 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 acquiring an additional 24,003 shares during the period. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NFG. Weiss Ratings raised National Fuel Gas from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. KeyCorp restated an “overweight” rating on shares of National Fuel Gas in a research note on Monday, August 31st. Finally, Wall Street Zen downgraded shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.50.

National Fuel Gas Stock Performance

Shares of NFG opened at $78.57 on Friday. The company has a current ratio of 3.20, a quick ratio of 3.07 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.72 and a beta of 0.40. The stock has a 50 day moving average of $80.93 and a 200 day moving average of $82.36. National Fuel Gas Company has a 12 month low of $75.03 and a 12 month high of $97.06.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.10. The business had revenue of $537.50 million for the quarter, compared to analysts’ expectations of $564.33 million. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. As a group, sell-side analysts forecast that National Fuel Gas Company will post 7.49 earnings per share for the current year.

National Fuel Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.5550 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.22 annualized dividend and a yield of 2.8%. National Fuel Gas’s payout ratio is currently 30.83%.

National Fuel Gas Company Profile

National Fuel Gas Company (NYSE:NFG) is a diversified energy company engaged in the exploration, production, gathering, transportation, storage and marketing of natural gas. Through its subsidiaries, the company operates across multiple segments of the natural gas value chain, with a concentration in the Appalachian Basin and the northeastern United States.

National Fuel’s exploration and production operations are conducted primarily through Seneca Resources Company, which develops and produces natural gas in the Appalachian region.