Meeder Asset Management Inc. Acquires New Stake in National Fuel Gas (NYSE:NFG)

Meeder Asset Management Inc. purchased a new position in shares of National Fuel Gas (NYSE:NFG - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 39,574 shares of the oil and gas producer's stock, valued at approximately $2,399,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC increased its position in National Fuel Gas by 14.3% during the 3rd quarter. Natixis Advisors LLC now owns 51,333 shares of the oil and gas producer's stock valued at $3,111,000 after buying an additional 6,435 shares in the last quarter. Valley Wealth Managers Inc. grew its stake in shares of National Fuel Gas by 8.1% during 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. Empowered Funds LLC acquired a new position in shares of National Fuel Gas during the third quarter valued at about $1,277,000. Huntington National Bank raised its position in shares of National Fuel Gas by 25.9% in the 3rd quarter. Huntington National Bank now owns 4,123 shares of the oil and gas producer's stock valued at $250,000 after purchasing an additional 848 shares during the last quarter. Finally, MQS Management LLC boosted its stake in National Fuel Gas by 2.0% in the 3rd quarter. MQS Management LLC now owns 8,631 shares of the oil and gas producer's stock worth $523,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company's stock.

Analysts Set New Price Targets

NFG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of National Fuel Gas from $65.00 to $64.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 12th. Scotiabank raised their target price on 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 National Fuel Gas from a "hold" rating to a "sell" rating in a research note 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 objective for the company.

Insider Buying and Selling at National Fuel Gas

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of the company's stock in a transaction 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 completion of the transaction, the general counsel now directly owns 8,203 shares in the company, valued at approximately $498,496.31. This represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.55% of the stock is currently owned by corporate insiders.

National Fuel Gas Stock Performance

NYSE NFG traded down $0.21 on Tuesday, reaching $62.01. 368,919 shares of the company's stock traded hands, compared to its average volume of 521,287. National Fuel Gas has a fifty-two week low of $45.32 and a fifty-two week high of $63.54. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.25 and a current ratio of 0.32. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 76.56 and a beta of 0.62. The stock has a 50 day moving average price of $60.83 and a 200-day moving average price of $58.32.

National Fuel Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Monday, September 30th. National Fuel Gas's dividend payout ratio is currently 254.32%.

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.