JPMorgan Chase & Co. Issues Pessimistic Forecast for National Fuel Gas (NYSE:NFG) Stock Price

National Fuel Gas (NYSE:NFG - Free Report) had its target price lowered by JPMorgan Chase & Co. from $65.00 to $64.00 in a research note issued to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the oil and gas producer's stock.

NFG has been the topic of several other reports. Scotiabank boosted their price objective on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 20th. StockNews.com cut National Fuel Gas from a "hold" rating to a "sell" rating in a research report on Saturday, October 19th. Finally, 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 on the stock.

National Fuel Gas Stock Performance

Shares of NFG traded down $0.18 during midday trading on Tuesday, reaching $61.29. 535,711 shares of the stock were exchanged, compared to its average volume of 524,213. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 75.67 and a beta of 0.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.32 and a quick ratio of 0.65. National Fuel Gas has a twelve month low of $45.32 and a twelve month high of $63.54. The business's 50-day moving average price is $60.63 and its 200 day moving average price is $58.00.

National Fuel Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Monday, September 30th. National Fuel Gas's dividend payout ratio is presently 254.32%.

Insider Activity

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of the business's stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total value of $103,309.00. Following the transaction, the general counsel now owns 8,203 shares in the company, valued at $498,496.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.55% of the company's stock.

Hedge Funds Weigh In On National Fuel Gas

A number of institutional investors have recently made changes to their positions in the business. Cerity Partners LLC grew its stake in National Fuel Gas by 11.4% in the third quarter. Cerity Partners LLC now owns 46,092 shares of the oil and gas producer's stock worth $2,794,000 after purchasing an additional 4,715 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of National Fuel Gas by 0.9% in the 3rd 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 in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of National Fuel Gas by 53.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 21,451 shares of the oil and gas producer's stock valued at $1,300,000 after acquiring an additional 7,510 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of National Fuel Gas by 4.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 79,619 shares of the oil and gas producer's stock valued at $4,826,000 after acquiring an additional 3,559 shares in the last quarter. Finally, Legacy Bridge LLC bought a new position in National Fuel Gas during the third quarter worth $1,066,000. 73.96% of the stock is owned by institutional investors and hedge funds.

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.