Bank of New York Mellon Corp Reduces Stock Position in National Fuel Gas (NYSE:NFG)

Bank of New York Mellon Corp decreased its holdings in National Fuel Gas (NYSE:NFG) by 10.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,082,532 shares of the oil and gas producer’s stock after selling 129,310 shares during the quarter. Bank of New York Mellon Corp’s holdings in National Fuel Gas were worth $65,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kentucky Trust Co bought a new position in shares of National Fuel Gas in the fourth quarter worth about $25,000. Capital Performance Advisors LLP purchased a new stake in National Fuel Gas in the 3rd quarter valued at about $28,000. UMB Bank n.a. grew its stake in National Fuel Gas by 82.9% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 218 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of National Fuel Gas during the third quarter worth approximately $35,000. Finally, S.A. Mason LLC bought a new stake in shares of National Fuel Gas during the fourth quarter valued at approximately $38,000. 73.96% of the stock is currently owned by institutional investors.

National Fuel Gas Stock Performance

Shares of NYSE:NFG opened at $75.23 on Tuesday. The firm has a 50 day moving average of $68.18 and a 200 day moving average of $63.40. 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 company has a market capitalization of $6.81 billion, a price-to-earnings ratio of -537.32 and a beta of 0.64. National Fuel Gas has a 52 week low of $48.68 and a 52 week high of $76.26.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings results on Wednesday, January 29th. The oil and gas producer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.44 by $0.22. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. During the same period last year, the business posted $1.46 earnings per share. On average, sell-side analysts predict that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Tuesday, December 31st. National Fuel Gas’s payout ratio is -1,471.43%.

Insider Buying and Selling at National Fuel Gas

In related news, insider Donna L. Decarolis sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $62.58, for a total transaction of $625,800.00. Following the completion of the transaction, the insider now owns 81,519 shares in the company, valued at $5,101,459.02. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.41% of the company’s stock.

Analyst Upgrades and Downgrades

NFG has been the topic of several research analyst reports. Argus raised National Fuel Gas to a “strong-buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. dropped their price target on National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, National Fuel Gas presently has an average rating of “Hold” and an average price target of $69.00.

About National Fuel Gas

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.