National Fuel Gas Company $NFG Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System increased its stake in National Fuel Gas Company (NYSE:NFG) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,408 shares of the oil and gas producer’s stock after acquiring an additional 7,025 shares during the period. California Public Employees Retirement System owned approximately 0.24% of National Fuel Gas worth $21,085,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NFG. SJS Investment Consulting Inc. lifted its position in 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 acquired a new position in shares of National Fuel Gas during the 4th quarter valued at $29,000. HM Payson & Co. acquired a new position in shares of National Fuel Gas during the 4th quarter valued at $29,000. Eastern Bank acquired a new position in shares of National Fuel Gas during the 4th quarter valued at $42,000. Finally, SHP Wealth Management bought a new stake in shares of National Fuel Gas in the 4th quarter worth $44,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

National Fuel Gas Price Performance

Shares of NYSE:NFG opened at $82.93 on Thursday. National Fuel Gas Company has a one year low of $75.17 and a one year high of $97.06. The stock has a fifty day moving average of $78.82 and a 200-day moving average of $84.45. The company has a market capitalization of $7.88 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.76 and a beta of 0.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.55 and a current ratio of 0.62.

National Fuel Gas (NYSE:NFG) last issued its earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.14). The company had revenue of $858.37 million during the quarter, compared to analyst estimates of $856.57 million. National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.39 earnings per share. As a group, equities analysts anticipate that National Fuel Gas Company will post 7.66 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.555 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.22 dividend on an annualized basis and a yield of 2.7%. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.54. National Fuel Gas’s dividend payout ratio (DPR) is 30.04%.

Analyst Upgrades and Downgrades

NFG has been the subject of several research reports. Weiss Ratings cut National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. KeyCorp initiated coverage on National Fuel Gas in a report on Tuesday, April 7th. They set an “overweight” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average 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.