Hartford Financial Management Inc. Reduces Position in National Fuel Gas (NYSE:NFG)

Hartford Financial Management Inc. trimmed its position in National Fuel Gas (NYSE:NFG) by 67.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,798 shares of the oil and gas producer’s stock after selling 18,106 shares during the period. Hartford Financial Management Inc.’s holdings in National Fuel Gas were worth $533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in National Fuel Gas by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 13,313,064 shares of the oil and gas producer’s stock valued at $715,178,000 after purchasing an additional 104,587 shares during the last quarter. Energy Income Partners LLC boosted its holdings in National Fuel Gas by 2.4% in the 1st quarter. Energy Income Partners LLC now owns 2,595,437 shares of the oil and gas producer’s stock valued at $139,427,000 after purchasing an additional 62,009 shares during the last quarter. Gabelli Funds LLC boosted its holdings in National Fuel Gas by 1.0% in the 2nd quarter. Gabelli Funds LLC now owns 2,533,482 shares of the oil and gas producer’s stock valued at $137,289,000 after purchasing an additional 24,800 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in National Fuel Gas by 46.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,732,969 shares of the oil and gas producer’s stock valued at $93,910,000 after purchasing an additional 550,153 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in National Fuel Gas by 7.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,320,850 shares of the oil and gas producer’s stock valued at $70,956,000 after purchasing an additional 96,410 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total transaction of $103,309.00. Following the sale, the general counsel now directly owns 8,203 shares in the company, valued at $498,496.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.55% of the stock is owned by company insiders.

National Fuel Gas Stock Performance

Shares of NFG stock opened at $60.53 on Friday. The firm’s 50 day moving average price is $60.45 and its 200-day moving average price is $57.58. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.65 and a current ratio of 0.77. National Fuel Gas has a one year low of $45.32 and a one year high of $63.54. The firm has a market cap of $5.53 billion, a P/E ratio of 17.54 and a beta of 0.62.

National Fuel Gas (NYSE:NFG) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. The company had revenue of $417.40 million for the quarter, compared to analyst estimates of $540.62 million. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 EPS. As a group, equities research analysts predict that National Fuel Gas will post 5.08 EPS for the current year.

National Fuel Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.06 dividend on an annualized basis and a yield of 3.40%. National Fuel Gas’s dividend payout ratio (DPR) is presently 59.71%.

Analysts Set New Price Targets

Several research firms have weighed in on NFG. Scotiabank boosted their target price on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. decreased their price objective on shares of National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Bank of America started coverage on shares of National Fuel Gas in a report on Monday. They issued an “underperform” rating and a $62.00 price objective on the stock. Finally, StockNews.com lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday, October 19th.

National Fuel Gas Company 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.