National Fuel Gas (NYSE:NFG) Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in National Fuel Gas (NYSE:NFG - Free Report) by 30.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 reporting period.

A number of other large investors have also recently added to or reduced their stakes in NFG. MQS Management LLC grew its position in shares of 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 acquiring an additional 166 shares in the last quarter. GAMMA Investing LLC boosted its holdings in 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 purchasing an additional 194 shares during the period. Cullen Investment Group LTD. boosted its holdings in National Fuel Gas by 0.7% in the third 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 period. Hancock Whitney Corp grew its position in shares of National Fuel Gas by 1.4% during the 3rd quarter. Hancock Whitney Corp now owns 21,363 shares of the oil and gas producer's stock valued at $1,295,000 after buying an additional 303 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in National Fuel Gas by 4.3% during the third quarter. Inspire Investing LLC now owns 7,692 shares of the oil and gas producer's stock worth $466,000 after acquiring an additional 318 shares during the period. 73.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NFG has been the subject of several recent research reports. 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. Argus upgraded National Fuel Gas to a "strong-buy" rating in a research report on Tuesday, November 19th. Bank of America initiated coverage on National Fuel Gas in a research report on Monday, October 28th. They issued an "underperform" rating and a $62.00 target price on the stock. Finally, StockNews.com downgraded shares of National Fuel Gas from a "hold" rating to a "sell" rating in a report on Tuesday, December 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $69.00.

National Fuel Gas Stock Performance

Shares of NYSE NFG traded down $0.24 during midday trading on Friday, reaching $60.36. 341,095 shares of the company traded hands, compared to its average volume of 519,486. 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 company has a market cap of $5.48 billion, a price-to-earnings ratio of 74.52 and a beta of 0.63. National Fuel Gas has a 52 week low of $45.32 and a 52 week high of $65.06. The stock has a 50-day moving average price of $61.48 and a 200 day moving average price of $59.39.

National Fuel Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Tuesday, December 31st. National Fuel Gas's payout ratio is 254.32%.

Insider Activity

In other National Fuel Gas news, insider Justin I. Loweth sold 19,532 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the sale, the insider now directly owns 41,841 shares of the company's stock, valued at $2,605,439.07. The trade was a 31.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donna L. Decarolis sold 10,000 shares of National Fuel Gas stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $62.58, for a total value of $625,800.00. Following the transaction, the insider now owns 81,519 shares in the company, valued at $5,101,459.02. This represents a 10.93 % decrease in their position. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by company insiders.

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.