Nuveen Asset Management LLC Trims Holdings in National Fuel Gas (NYSE:NFG)

Nuveen Asset Management LLC lessened its holdings in shares of National Fuel Gas (NYSE:NFG) by 10.4% during the fourth quarter, Holdings Channel reports. The firm owned 144,708 shares of the oil and gas producer’s stock after selling 16,755 shares during the quarter. Nuveen Asset Management LLC’s holdings in National Fuel Gas were worth $8,781,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of National Fuel Gas by 243.7% during the 3rd quarter. Barclays PLC now owns 102,672 shares of the oil and gas producer’s stock worth $6,223,000 after acquiring an additional 72,802 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of National Fuel Gas by 1.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 26,019 shares of the oil and gas producer’s stock worth $1,579,000 after acquiring an additional 429 shares during the period. Fifth Third Bancorp grew its holdings in shares of National Fuel Gas by 5.8% during the 4th quarter. Fifth Third Bancorp now owns 5,894 shares of the oil and gas producer’s stock worth $358,000 after acquiring an additional 322 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of National Fuel Gas by 5.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 5,906 shares of the oil and gas producer’s stock worth $358,000 after acquiring an additional 280 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of National Fuel Gas by 35.8% during the 4th quarter. Blue Trust Inc. now owns 5,641 shares of the oil and gas producer’s stock worth $342,000 after acquiring an additional 1,488 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NFG shares. Wall Street Zen upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a report on Tuesday, April 22nd. Bank of America boosted their price target on National Fuel Gas from $77.00 to $85.00 and gave the stock an “underperform” rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their price target on National Fuel Gas from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, National Fuel Gas has an average rating of “Hold” and a consensus price target of $82.33.

National Fuel Gas Stock Performance

Shares of NFG opened at $81.85 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.39 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average price is $78.90 and its 200-day moving average price is $71.24. National Fuel Gas has a 52 week low of $53.03 and a 52 week high of $83.40. The stock has a market cap of $7.40 billion, a P/E ratio of -584.61 and a beta of 0.61.

National Fuel Gas (NYSE:NFG) last issued its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.21. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. The firm had revenue of $729.95 million for the quarter, compared to analysts’ expectations of $770.81 million. During the same period in the previous year, the firm posted $1.79 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.515 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.06 annualized dividend and a yield of 2.52%. National Fuel Gas’s dividend payout ratio (DPR) is presently 479.07%.

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.