Legacy Bridge LLC Invests $1.07 Million in National Fuel Gas (NYSE:NFG)

Legacy Bridge LLC acquired a new stake in shares of National Fuel Gas (NYSE:NFG - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 17,595 shares of the oil and gas producer's stock, valued at approximately $1,066,000.

A number of other large investors have also recently made changes to their positions in NFG. Vanguard Group Inc. raised its position in National Fuel Gas by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 13,313,064 shares of the oil and gas producer's stock valued at $715,178,000 after purchasing an additional 104,587 shares in the last quarter. Welch Group LLC purchased a new position in shares of National Fuel Gas during the 2nd quarter worth $526,000. Energy Income Partners LLC lifted its stake in National Fuel Gas by 2.4% during the 1st quarter. Energy Income Partners LLC now owns 2,595,437 shares of the oil and gas producer's stock worth $139,427,000 after acquiring an additional 62,009 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in National Fuel Gas during the 2nd quarter worth about $718,000. Finally, Vident Advisory LLC raised its stake in National Fuel Gas by 18.1% in the first quarter. Vident Advisory LLC now owns 62,860 shares of the oil and gas producer's stock valued at $3,377,000 after buying an additional 9,615 shares in the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

National Fuel Gas Trading Down 0.7 %

Shares of NFG stock traded down $0.46 during trading hours on Tuesday, reaching $61.76. The company had a trading volume of 103,628 shares, compared to its average volume of 520,031. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $63.54. 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 firm has a market cap of $5.64 billion, a price-to-earnings ratio of 76.33 and a beta of 0.62. The company has a 50 day moving average of $60.80 and a 200 day moving average of $58.27.

National Fuel Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.515 per share. The ex-dividend date was Monday, September 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.34%. National Fuel Gas's payout ratio is presently 254.32%.

Analysts Set New Price Targets

NFG has been the subject of several recent analyst reports. StockNews.com cut shares of National Fuel Gas from a "hold" rating to a "sell" rating in a research note on Saturday, October 19th. Scotiabank raised their price target on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. lowered their target price on National Fuel Gas from $65.00 to $64.00 and set a "neutral" rating for the company in a report on Tuesday, November 12th. Finally, Bank of America began coverage on National Fuel Gas in a report on Monday, October 28th. They issued an "underperform" rating and a $62.00 price objective for the company.

Insider Buying and Selling

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of National Fuel Gas stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total transaction of $103,309.00. Following the transaction, the general counsel now directly owns 8,203 shares of the company's stock, valued at approximately $498,496.31. This trade represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.55% of the stock is currently owned by insiders.

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.