American International Group Inc. Has $6.22 Million Stake in National Fuel Gas (NYSE:NFG)

American International Group Inc. decreased its stake in shares of National Fuel Gas (NYSE:NFG) by 4.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 124,002 shares of the oil and gas producer’s stock after selling 5,336 shares during the period. American International Group Inc. owned 0.13% of National Fuel Gas worth $6,221,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NFG. Nordea Investment Management AB grew its holdings in National Fuel Gas by 26.7% in the 4th quarter. Nordea Investment Management AB now owns 103,314 shares of the oil and gas producer’s stock valued at $5,142,000 after buying an additional 21,748 shares during the last quarter. Vanguard Group Inc. grew its holdings in National Fuel Gas by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 13,190,115 shares of the oil and gas producer’s stock valued at $684,699,000 after buying an additional 311,599 shares during the last quarter. Wells Fargo & Company MN grew its holdings in National Fuel Gas by 8.3% in the 4th quarter. Wells Fargo & Company MN now owns 263,689 shares of the oil and gas producer’s stock valued at $13,229,000 after buying an additional 20,203 shares during the last quarter. Cullen Investment Group LTD. acquired a new stake in National Fuel Gas in the 4th quarter valued at approximately $1,674,000. Finally, Mackenzie Financial Corp grew its holdings in National Fuel Gas by 12.9% in the 4th quarter. Mackenzie Financial Corp now owns 298,410 shares of the oil and gas producer’s stock valued at $14,971,000 after buying an additional 34,156 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

National Fuel Gas Price Performance

Shares of NFG stock opened at $54.61 on Friday. The stock has a 50 day moving average of $55.11 and a two-hundred day moving average of $51.85. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.72. National Fuel Gas has a 12 month low of $45.32 and a 12 month high of $57.60. The company has a market capitalization of $5.02 billion, a P/E ratio of 10.84 and a beta of 0.62.

National Fuel Gas (NYSE:NFG) last posted its earnings results on Wednesday, May 1st. The oil and gas producer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.41 by $0.38. The business had revenue of $629.94 million during the quarter, compared to the consensus estimate of $767.33 million. National Fuel Gas had a return on equity of 15.06% and a net margin of 23.84%. National Fuel Gas’s revenue was down 12.2% on a year-over-year basis. During the same quarter last year, the company earned $1.54 EPS. As a group, equities analysts expect that National Fuel Gas will post 5.07 EPS for the current year.

National Fuel Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, June 28th. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.50. National Fuel Gas’s dividend payout ratio (DPR) is 39.29%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NFG. Scotiabank raised their price objective on National Fuel Gas from $72.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 9th. StockNews.com upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th.

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.