National Fuel Gas (NYSE:NFG) Holdings Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its holdings in shares of National Fuel Gas (NYSE:NFG) by 4.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 79,619 shares of the oil and gas producer’s stock after purchasing an additional 3,559 shares during the quarter. PNC Financial Services Group Inc.’s holdings in National Fuel Gas were worth $4,826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. CANADA LIFE ASSURANCE Co raised its stake in National Fuel Gas by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 53,460 shares of the oil and gas producer’s stock valued at $2,873,000 after acquiring an additional 244 shares in the last quarter. LRI Investments LLC acquired a new stake in National Fuel Gas in the first quarter worth about $46,000. BOKF NA grew its position in National Fuel Gas by 5.0% in the 1st quarter. BOKF NA now owns 44,562 shares of the oil and gas producer’s stock valued at $2,377,000 after buying an additional 2,120 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in National Fuel Gas by 2.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 76,526 shares of the oil and gas producer’s stock valued at $4,111,000 after buying an additional 1,812 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of National Fuel Gas during the 1st quarter worth about $227,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

National Fuel Gas Stock Up 1.1 %

Shares of National Fuel Gas stock opened at $64.23 on Friday. National Fuel Gas has a 12-month low of $45.32 and a 12-month high of $64.30. The firm has a market capitalization of $5.87 billion, a PE ratio of 79.30 and a beta of 0.62. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average is $61.02 and its 200-day moving average is $58.46.

National Fuel Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Monday, September 30th. National Fuel Gas’s dividend payout ratio is presently 254.32%.

Insiders Place Their Bets

In related news, General Counsel Michael W. Reville sold 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total value of $103,309.00. Following the completion of the sale, the general counsel now owns 8,203 shares in the company, valued at approximately $498,496.31. This represents a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NFG. StockNews.com upgraded shares of National Fuel Gas from a “sell” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. dropped their price objective on National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 12th. Scotiabank raised their target price on National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Argus raised National Fuel Gas to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, Bank of America initiated coverage on shares of National Fuel Gas in a report on Monday, October 28th. They issued an “underperform” rating and a $62.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $69.00.

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.