Franklin Resources Inc. raised its position in National Fuel Gas (NYSE:NFG - Free Report) by 33.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 220,869 shares of the oil and gas producer's stock after buying an additional 55,152 shares during the period. Franklin Resources Inc. owned approximately 0.24% of National Fuel Gas worth $13,386,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of National Fuel Gas in the third quarter worth $28,000. V Square Quantitative Management LLC bought a new stake in shares of National Fuel Gas in the 3rd quarter worth about $29,000. Venturi Wealth Management LLC acquired a new stake in shares of National Fuel Gas in the 3rd quarter valued at about $35,000. GAMMA Investing LLC lifted its position in shares of National Fuel Gas by 38.6% during the third quarter. GAMMA Investing LLC now owns 696 shares of the oil and gas producer's stock worth $42,000 after purchasing an additional 194 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC acquired a new position in National Fuel Gas in the third quarter worth about $46,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have commented on NFG. Bank of America started coverage on National Fuel Gas in a report on Monday, October 28th. They set an "underperform" rating and a $62.00 target price on the stock. StockNews.com upgraded National Fuel Gas from a "sell" rating to a "hold" rating in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their target price on shares of 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. Finally, Argus raised shares of National Fuel Gas to a "strong-buy" rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $69.00.
Read Our Latest Stock Analysis on NFG
National Fuel Gas Stock Performance
Shares of NYSE NFG traded up $0.60 during mid-day trading on Friday, hitting $59.93. The company had a trading volume of 1,881,063 shares, compared to its average volume of 523,486. National Fuel Gas has a 12 month low of $45.32 and a 12 month high of $65.06. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 73.99 and a beta of 0.63. 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's 50 day simple moving average is $61.59 and its two-hundred day simple moving average is $59.22.
National Fuel Gas Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.515 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.06 annualized dividend and a dividend yield of 3.44%. National Fuel Gas's dividend payout ratio is currently 254.32%.
Insider Transactions at National Fuel Gas
In related news, insider Donna L. Decarolis sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $62.58, for a total value of $625,800.00. Following the sale, the insider now directly owns 81,519 shares in the company, valued at $5,101,459.02. This trade represents a 10.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael W. Reville sold 1,700 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total value of $103,309.00. Following the completion of the transaction, the general counsel now directly owns 8,203 shares of the company's stock, valued at approximately $498,496.31. The trade was a 17.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,232 shares of company stock worth $1,945,367. Insiders own 1.55% of the company's stock.
About National Fuel Gas
(
Free Report)
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.
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