VELA Investment Management LLC Buys 11,373 Shares of National Fuel Gas Company $NFG

VELA Investment Management LLC boosted its position in shares of National Fuel Gas Company (NYSE:NFG) by 33.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,298 shares of the oil and gas producer’s stock after acquiring an additional 11,373 shares during the period. VELA Investment Management LLC’s holdings in National Fuel Gas were worth $3,497,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its position in shares of National Fuel Gas by 458.0% in the first quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 229 shares during the period. Fairscale Capital LLC purchased a new position in shares of National Fuel Gas during the 4th quarter valued at $29,000. HM Payson & Co. purchased a new position in shares of National Fuel Gas during the 4th quarter valued at $29,000. Cassaday & Co Wealth Management LLC bought a new position in National Fuel Gas in the 1st quarter worth $38,000. Finally, SHP Wealth Management bought a new position in National Fuel Gas in the 4th quarter worth $44,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Down 0.0%

Shares of NYSE NFG opened at $83.29 on Tuesday. National Fuel Gas Company has a 52-week low of $75.17 and a 52-week high of $97.06. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.86 and a beta of 0.37. The stock has a 50 day moving average price of $81.46 and a 200 day moving average price of $84.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.07 and a current ratio of 3.20.

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

National Fuel Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.555 per share. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.22 annualized dividend and a yield of 2.7%. National Fuel Gas’s payout ratio is 30.83%.

Wall Street Analysts Forecast Growth

NFG has been the subject of a number of research analyst reports. KeyCorp reaffirmed an “overweight” rating on shares of National Fuel Gas in a report on Monday, August 31st. Wall Street Zen cut National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Finally, Weiss Ratings downgraded shares of National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.50.

National Fuel Gas Company Profile

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.