Salem Capital Management Inc. Continues to Hold Stake in National Fuel Gas Company (NFG)

Salem Capital Management Inc. maintained its position in shares of National Fuel Gas Company (NYSE:NFG) during the second quarter, Holdings Channel reports. The fund owned 12,250 shares of the oil and gas producer’s stock at the end of the second quarter. Salem Capital Management Inc.’s holdings in National Fuel Gas Company were worth $684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of National Fuel Gas Company by 87.3% in the first quarter. Fifth Third Bancorp now owns 2,841 shares of the oil and gas producer’s stock worth $169,000 after buying an additional 1,324 shares during the last quarter. Karpas Strategies LLC acquired a new position in shares of National Fuel Gas Company during the first quarter worth approximately $203,000. Pennsylvania Trust Co acquired a new position in shares of National Fuel Gas Company during the first quarter worth approximately $205,000. IFC Holdings Incorporated FL acquired a new position in shares of National Fuel Gas Company during the first quarter worth approximately $205,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of National Fuel Gas Company during the first quarter worth approximately $209,000. 68.93% of the stock is owned by hedge funds and other institutional investors.

Shares of National Fuel Gas Company (NYSE:NFG) traded down 0.81% during mid-day trading on Monday, reaching $55.39. 666,109 shares of the company’s stock traded hands. The stock has a market capitalization of $4.73 billion, a PE ratio of 21.21 and a beta of 0.97. The company’s 50-day moving average price is $56.71 and its 200-day moving average price is $57.59. National Fuel Gas Company has a 12-month low of $50.61 and a 12-month high of $61.25.

National Fuel Gas Company (NYSE:NFG) last released its earnings results on Thursday, May 4th. The oil and gas producer reported $1.04 EPS for the quarter, missing the consensus estimate of $1.05 by $0.01. National Fuel Gas Company had a return on equity of 18.67% and a net margin of 14.24%. The business had revenue of $522.10 million for the quarter, compared to analyst estimates of $514.43 million. During the same period in the prior year, the business earned $0.97 EPS. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. Analysts anticipate that National Fuel Gas Company will post $3.26 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a dividend of $0.415 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.66 annualized dividend and a yield of 2.97%. This is a boost from National Fuel Gas Company’s previous quarterly dividend of $0.41. National Fuel Gas Company’s dividend payout ratio (DPR) is currently 63.36%.

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Several brokerages have issued reports on NFG. TheStreet raised shares of National Fuel Gas Company from a “c+” rating to a “b” rating in a research note on Friday, June 16th. BidaskClub raised shares of National Fuel Gas Company from a “hold” rating to a “buy” rating in a research note on Monday, June 19th. Scotiabank set a $58.00 price objective on shares of National Fuel Gas Company and gave the stock a “hold” rating in a research note on Saturday, July 1st. ValuEngine downgraded shares of National Fuel Gas Company from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC raised shares of National Fuel Gas Company from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Wednesday, April 19th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. National Fuel Gas Company presently has an average rating of “Hold” and a consensus target price of $59.00.

About National Fuel Gas Company

National Fuel Gas Company is a holding company. The Company is an energy company engaged principally in the production, gathering, transportation, distribution and marketing of natural gas. The Company operates in five business segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing.

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Institutional Ownership by Quarter for National Fuel Gas Company (NYSE:NFG)

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