Summit Global Investments Acquires 7,740 Shares of National Fuel Gas (NYSE:NFG)

Summit Global Investments raised its position in shares of National Fuel Gas (NYSE:NFG) by 16.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,836 shares of the oil and gas producer’s stock after purchasing an additional 7,740 shares during the period. Summit Global Investments owned about 0.06% of National Fuel Gas worth $3,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NFG. Kentucky Trust Co purchased a new stake in National Fuel Gas during the fourth quarter worth $25,000. UMB Bank n.a. boosted its position in National Fuel Gas by 82.9% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 218 shares in the last quarter. S.A. Mason LLC bought a new stake in National Fuel Gas during the fourth quarter valued at about $38,000. V Square Quantitative Management LLC grew its stake in National Fuel Gas by 49.5% in the fourth quarter. V Square Quantitative Management LLC now owns 722 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 239 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new position in National Fuel Gas in the third quarter worth about $46,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on NFG shares. StockNews.com upgraded shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. raised their target price on National Fuel Gas from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $74.67.

National Fuel Gas Stock Performance

Shares of NYSE NFG opened at $78.18 on Friday. The company’s fifty day moving average price is $72.27 and its 200 day moving average price is $64.96. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.33 and a current ratio of 0.39. National Fuel Gas has a 1 year low of $51.46 and a 1 year high of $79.35. The company has a market capitalization of $7.08 billion, a PE ratio of -558.41 and a beta of 0.57.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.22. National Fuel Gas had a negative net margin of 0.53% and a positive return on equity of 15.96%. During the same quarter in the prior year, the business earned $1.46 EPS. On average, research analysts predict that National Fuel Gas will post 6.64 earnings per share for the current year.

National Fuel Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.06 dividend on an annualized basis and a yield of 2.63%. National Fuel Gas’s payout ratio is presently -1,471.43%.

About National Fuel Gas

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.