Allspring Global Investments Holdings LLC Reduces Holdings in National Fuel Gas (NYSE:NFG)

Allspring Global Investments Holdings LLC trimmed its stake in National Fuel Gas (NYSE:NFG - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 281,822 shares of the oil and gas producer's stock after selling 25,430 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.31% of National Fuel Gas worth $17,293,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in shares of National Fuel Gas by 44.2% in the third quarter. Victory Capital Management Inc. now owns 2,498,205 shares of the oil and gas producer's stock worth $151,416,000 after acquiring an additional 765,236 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of National Fuel Gas by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 920,918 shares of the oil and gas producer's stock worth $55,817,000 after acquiring an additional 7,830 shares during the last quarter. Valley Wealth Managers Inc. raised its holdings in shares of National Fuel Gas by 8.1% in the third quarter. Valley Wealth Managers Inc. now owns 325,966 shares of the oil and gas producer's stock worth $19,757,000 after acquiring an additional 24,564 shares during the last quarter. Franklin Resources Inc. increased its stake in National Fuel Gas by 33.3% in the third quarter. Franklin Resources Inc. now owns 220,869 shares of the oil and gas producer's stock valued at $13,386,000 after purchasing an additional 55,152 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. increased its stake in National Fuel Gas by 0.5% in the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 159,753 shares of the oil and gas producer's stock valued at $9,694,000 after purchasing an additional 792 shares during the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Donna L. Decarolis sold 10,000 shares of the firm's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $62.58, for a total value of $625,800.00. Following the transaction, the insider now owns 81,519 shares of the company's stock, valued at approximately $5,101,459.02. This trade represents a 10.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 in the company, valued at approximately $2,605,439.07. This represents a 31.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.41% of the company's stock.

Wall Street Analysts Forecast Growth

NFG has been the subject of several analyst reports. Bank of America initiated coverage on National Fuel Gas in a research note on Monday, October 28th. They issued an "underperform" rating and a $62.00 target price for the company. StockNews.com upgraded National Fuel Gas from a "sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Argus upgraded National Fuel Gas to a "strong-buy" rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. dropped their target price on National Fuel Gas from $65.00 to $64.00 and set a "neutral" rating for the company in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $69.00.

National Fuel Gas Trading Down 0.9 %

Shares of NYSE:NFG traded down $0.65 during trading on Thursday, reaching $72.76. 522,590 shares of the stock were exchanged, compared to its average volume of 648,345. National Fuel Gas has a 12-month low of $48.06 and a 12-month high of $73.60. The firm's 50-day moving average price is $66.01 and its 200 day moving average price is $62.52. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.33 and a current ratio of 0.39. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of -519.68 and a beta of 0.64.

National Fuel Gas (NYSE:NFG - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.66 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $1.46 earnings per share. On average, sell-side analysts anticipate that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Tuesday, December 31st. National Fuel Gas's dividend payout ratio is presently -1,471.32%.

National Fuel Gas 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.