PNC Financial Services Group Inc. Sells 1,620 Shares of National Fuel Gas (NYSE:NFG)

PNC Financial Services Group Inc. reduced its stake in shares of National Fuel Gas (NYSE:NFG) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,840 shares of the oil and gas producer’s stock after selling 1,620 shares during the quarter. PNC Financial Services Group Inc. owned 0.08% of National Fuel Gas worth $3,855,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in National Fuel Gas by 2.4% during the third quarter. Vanguard Group Inc. now owns 13,190,115 shares of the oil and gas producer’s stock worth $684,699,000 after buying an additional 311,599 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of National Fuel Gas by 19.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,868,815 shares of the oil and gas producer’s stock worth $200,830,000 after acquiring an additional 641,010 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in National Fuel Gas by 1.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,224,440 shares of the oil and gas producer’s stock valued at $61,430,000 after acquiring an additional 22,088 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in National Fuel Gas by 22.9% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,042,509 shares of the oil and gas producer’s stock valued at $52,302,000 after purchasing an additional 193,910 shares in the last quarter. Finally, Norges Bank bought a new stake in National Fuel Gas during the fourth quarter worth $49,804,000. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Up 0.6 %

Shares of NYSE:NFG opened at $54.38 on Thursday. National Fuel Gas has a 52-week low of $45.32 and a 52-week high of $57.60. The company has a market capitalization of $5.00 billion, a PE ratio of 10.79 and a beta of 0.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.50 and a current ratio of 0.58. The company has a fifty day moving average of $55.06 and a 200-day moving average of $51.81.

National Fuel Gas (NYSE:NFG) last issued its earnings results on Wednesday, May 1st. The oil and gas producer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.38. National Fuel Gas had a return on equity of 15.06% and a net margin of 23.84%. The business had revenue of $629.94 million during the quarter, compared to analysts’ expectations of $767.33 million. During the same quarter in the prior year, the firm earned $1.54 EPS. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year. On average, equities analysts predict that National Fuel Gas will post 5.07 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The firm 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. The ex-dividend date is Friday, June 28th. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.50. This represents a $2.06 annualized dividend and a yield of 3.79%. National Fuel Gas’s dividend payout ratio (DPR) is currently 39.29%.

Analysts Set New Price Targets

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

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.