Man Group plc Invests $6.34 Million in National Fuel Gas Company $NFG

Man Group plc bought a new position in shares of National Fuel Gas Company (NYSE:NFG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 82,115 shares of the oil and gas producer’s stock, valued at approximately $6,340,000.

A number of other hedge funds also recently added to or reduced their stakes in NFG. BlackRock Inc. purchased a new position in National Fuel Gas in the 2nd quarter valued at approximately $748,569,000. State Street Corp raised its holdings in National Fuel Gas by 3.4% during the second quarter. State Street Corp now owns 4,035,345 shares of the oil and gas producer’s stock worth $343,962,000 after purchasing an additional 132,855 shares during the last quarter. Energy Income Partners LLC purchased a new stake in National Fuel Gas during the second quarter worth $231,309,000. AQR Capital Management LLC boosted its position in National Fuel Gas by 103.4% during the third quarter. AQR Capital Management LLC now owns 2,138,153 shares of the oil and gas producer’s stock worth $197,501,000 after purchasing an additional 1,087,067 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in National Fuel Gas by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 1,816,217 shares of the oil and gas producer’s stock valued at $145,446,000 after purchasing an additional 121,099 shares during the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

National Fuel Gas Stock Performance

NYSE NFG opened at $82.97 on Friday. The business’s 50-day moving average price is $80.71 and its 200 day moving average price is $84.49. The company has a current ratio of 3.20, a quick ratio of 3.07 and a debt-to-equity ratio of 0.91. National Fuel Gas Company has a twelve month low of $75.17 and a twelve month high of $97.06. The company has a market capitalization of $7.89 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.84 and a beta of 0.37.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.10. The company had revenue of $537.50 million during the quarter, compared to analysts’ expectations of $564.33 million. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 EPS. On average, research analysts predict that National Fuel Gas Company will post 7.5 earnings per share for the current year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.555 dividend. The ex-dividend date was Tuesday, June 30th. 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. National Fuel Gas’s dividend payout ratio (DPR) is currently 30.83%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NFG. Wall Street Zen cut National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings lowered shares of National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company 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.