Zacks Investment Management Takes $957,000 Position in National Fuel Gas (NYSE:NFG)

Zacks Investment Management acquired a new position in National Fuel Gas (NYSE:NFG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,792 shares of the oil and gas producer's stock, valued at approximately $957,000.

Other large investors have also recently made changes to their positions in the company. iSAM Funds UK Ltd grew its holdings in shares of National Fuel Gas by 27.5% in the third quarter. iSAM Funds UK Ltd now owns 12,191 shares of the oil and gas producer's stock worth $739,000 after acquiring an additional 2,632 shares during the period. EP Wealth Advisors LLC purchased a new stake in National Fuel Gas in the third quarter worth about $342,000. Stifel Financial Corp raised its stake in shares of National Fuel Gas by 7.5% in the third quarter. Stifel Financial Corp now owns 143,289 shares of the oil and gas producer's stock worth $8,685,000 after buying an additional 10,038 shares during the period. Safe Harbor Fiduciary LLC bought a new position in shares of National Fuel Gas in the third quarter worth about $46,000. Finally, Quantinno Capital Management LP lifted its position in shares of National Fuel Gas by 106.3% during the 3rd quarter. Quantinno Capital Management LP now owns 16,924 shares of the oil and gas producer's stock valued at $1,026,000 after buying an additional 8,719 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors.

National Fuel Gas Price Performance

Shares of NFG stock traded up $0.35 during mid-day trading on Tuesday, hitting $61.48. The company had a trading volume of 353,549 shares, compared to its average volume of 516,329. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.32 and a quick ratio of 0.25. The stock's 50 day moving average price is $61.52 and its 200-day moving average price is $58.96. National Fuel Gas has a 52-week low of $45.32 and a 52-week high of $65.06. The company has a market capitalization of $5.58 billion, a P/E ratio of 75.62 and a beta of 0.63.

National Fuel Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 31st. National Fuel Gas's dividend payout ratio (DPR) is presently 254.32%.

Wall Street Analyst Weigh In

A number of research firms have commented on NFG. Scotiabank raised their target price on shares of National Fuel Gas from $80.00 to $81.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, August 20th. StockNews.com downgraded shares of National Fuel Gas from a "hold" rating to a "sell" rating in a research report on Saturday, November 30th. JPMorgan Chase & Co. dropped their target price on shares of National Fuel Gas from $65.00 to $64.00 and set a "neutral" rating for the company in a report on Tuesday, November 12th. Bank of America assumed coverage on National Fuel Gas in a research note on Monday, October 28th. They issued an "underperform" rating and a $62.00 price target for the company. Finally, Argus upgraded National Fuel Gas to a "strong-buy" rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $69.00.

Insider Activity

In other news, General Counsel Michael W. Reville sold 1,700 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total transaction of $103,309.00. Following the sale, the general counsel now directly owns 8,203 shares of the company's stock, valued at $498,496.31. This represents a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin I. Loweth sold 19,532 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the completion of the transaction, the insider now directly owns 41,841 shares of the company's stock, valued at approximately $2,605,439.07. This trade represents a 31.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,232 shares of company stock worth $1,945,367 over the last 90 days. Corporate insiders own 1.55% of the company's stock.

National Fuel Gas Company Profile

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.