Cohen & Steers Inc. Purchases New Shares in National Fuel Gas (NYSE:NFG)

Cohen & Steers Inc. bought a new stake in shares of National Fuel Gas (NYSE:NFG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,548 shares of the oil and gas producer's stock, valued at approximately $1,550,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of National Fuel Gas in the 4th quarter worth approximately $67,393,000. Brandywine Global Investment Management LLC bought a new position in National Fuel Gas in the fourth quarter worth approximately $16,906,000. Raymond James Financial Inc. purchased a new stake in National Fuel Gas during the fourth quarter worth $9,067,000. Geode Capital Management LLC boosted its position in National Fuel Gas by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 2,199,787 shares of the oil and gas producer's stock valued at $146,502,000 after acquiring an additional 117,351 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of National Fuel Gas by 3.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,584,155 shares of the oil and gas producer's stock valued at $156,807,000 after acquiring an additional 85,950 shares during the period. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

National Fuel Gas Stock Up 0.4 %

Shares of NFG stock traded up $0.28 during trading hours on Friday, reaching $79.01. 603,566 shares of the company's stock were exchanged, compared to its average volume of 550,072. The stock has a market cap of $7.15 billion, a PE ratio of -564.32 and a beta of 0.61. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80. The stock's fifty day moving average price is $75.64 and its two-hundred day moving average price is $67.50. National Fuel Gas has a 1 year low of $51.81 and a 1 year high of $80.14.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the previous year, the company earned $1.46 earnings per share. Research analysts predict that National Fuel Gas will post 6.64 EPS for the current year.

National Fuel Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, March 31st. National Fuel Gas's dividend payout ratio (DPR) is -1,471.43%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NFG shares. StockNews.com downgraded National Fuel Gas from a "hold" rating to a "sell" rating in a research report on Monday, April 7th. JPMorgan Chase & Co. boosted their price objective on shares of National Fuel Gas from $77.00 to $81.00 and gave the stock a "neutral" rating in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $74.67.

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.