Fifth Third Bancorp Purchases 28,804 Shares of National Fuel Gas Company $NFG

Fifth Third Bancorp grew its position in shares of National Fuel Gas Company (NYSE:NFG) by 550.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 34,036 shares of the oil and gas producer’s stock after acquiring an additional 28,804 shares during the quarter. Fifth Third Bancorp’s holdings in National Fuel Gas were worth $3,198,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. grew its stake in shares of National Fuel Gas by 458.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 229 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of National Fuel Gas in the 4th quarter valued at about $29,000. HM Payson & Co. bought a new position in shares of National Fuel Gas in the 4th quarter valued at about $29,000. Eastern Bank purchased a new position in National Fuel Gas in the fourth quarter worth about $42,000. Finally, SHP Wealth Management bought a new stake in National Fuel Gas during the fourth quarter worth approximately $44,000. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

Shares of NYSE:NFG opened at $80.90 on Monday. 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 12 month low of $75.17 and a 12 month high of $97.06. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.76 and a beta of 0.37. The firm’s 50-day moving average is $78.73 and its 200 day moving average is $84.43.

National Fuel Gas (NYSE:NFG) last announced its 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 business had revenue of $858.37 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.39 EPS. Research analysts predict that National Fuel Gas Company will post 7.66 EPS for the current year.

National Fuel Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a dividend yield of 2.7%. This is a positive change 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 30.04%.

Wall Street Analysts Forecast Growth

NFG has been the topic of a number of recent research reports. 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 on the stock. Weiss Ratings lowered National Fuel Gas from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, National Fuel Gas currently has a consensus rating of “Moderate Buy” and an average target price of $105.50.

National Fuel Gas 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.