Principal Financial Group Inc. lowered its position in National Fuel Gas (NYSE:NFG - Free Report) by 30.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 211,539 shares of the oil and gas producer's stock after selling 94,521 shares during the period. Principal Financial Group Inc. owned 0.23% of National Fuel Gas worth $12,821,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NFG. GAMMA Investing LLC lifted its stake in shares of National Fuel Gas by 38.6% in the third quarter. GAMMA Investing LLC now owns 696 shares of the oil and gas producer's stock worth $42,000 after buying an additional 194 shares in the last quarter. Cullen Investment Group LTD. boosted its holdings in shares of National Fuel Gas by 0.7% during the 3rd quarter. Cullen Investment Group LTD. now owns 30,021 shares of the oil and gas producer's stock worth $1,820,000 after purchasing an additional 202 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in shares of National Fuel Gas by 6.2% during the 2nd quarter. Financial Advocates Investment Management now owns 4,182 shares of the oil and gas producer's stock worth $227,000 after purchasing an additional 243 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of National Fuel Gas by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 53,460 shares of the oil and gas producer's stock valued at $2,873,000 after purchasing an additional 244 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of National Fuel Gas by 4.3% in the third quarter. Inspire Investing LLC now owns 7,692 shares of the oil and gas producer's stock valued at $466,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company's stock.
Analyst Ratings Changes
NFG has been the topic of a number of recent research reports. StockNews.com lowered National Fuel Gas from a "hold" rating to a "sell" rating in a research note on Saturday, October 19th. JPMorgan Chase & Co. dropped their price objective on shares of National Fuel Gas from $65.00 to $64.00 and set a "neutral" rating for the company in a report on Tuesday, November 12th. Scotiabank lifted their target price on shares of 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. Finally, Bank of America started coverage on shares of National Fuel Gas in a report on Monday, October 28th. They issued an "underperform" rating and a $62.00 target price on the stock.
Check Out Our Latest Stock Analysis on NFG
Insider Activity
In other news, General Counsel Michael W. Reville sold 1,700 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was 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 $498,496.31. This trade represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.55% of the company's stock.
National Fuel Gas Trading Up 1.1 %
Shares of NYSE NFG traded up $0.65 during mid-day trading on Friday, reaching $61.08. 374,525 shares of the company's stock were exchanged, compared to its average volume of 465,005. The company's 50-day moving average is $60.75 and its 200-day moving average is $58.18. 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 capitalization of $5.58 billion, a price-to-earnings ratio of 75.41 and a beta of 0.62. National Fuel Gas has a 52-week low of $45.32 and a 52-week high of $63.54.
National Fuel Gas Dividend Announcement
The business also recently declared 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. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, September 30th. National Fuel Gas's dividend payout ratio is presently 254.32%.
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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