National Fuel Gas (NYSE:NFG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of National Fuel Gas (NYSE:NFG) by 18.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 307,252 shares of the oil and gas producer’s stock after selling 71,336 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.33% of National Fuel Gas worth $18,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its position in National Fuel Gas by 37.5% during the 3rd quarter. Raymond James & Associates now owns 97,691 shares of the oil and gas producer’s stock worth $5,921,000 after acquiring an additional 26,655 shares during the period. Blue Trust Inc. raised its stake in shares of National Fuel Gas by 257.7% during the 3rd quarter. Blue Trust Inc. now owns 4,153 shares of the oil and gas producer’s stock valued at $252,000 after buying an additional 2,992 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of National Fuel Gas during the 3rd quarter valued at about $29,000. Cardinal Capital Management raised its stake in shares of National Fuel Gas by 1.4% during the 3rd quarter. Cardinal Capital Management now owns 92,630 shares of the oil and gas producer’s stock valued at $5,661,000 after buying an additional 1,275 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of National Fuel Gas by 2.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 63,227 shares of the oil and gas producer’s stock valued at $3,832,000 after buying an additional 1,669 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

Insiders Place Their Bets

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

National Fuel Gas Price Performance

Shares of National Fuel Gas stock opened at $62.69 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.77 and a debt-to-equity ratio of 0.85. National Fuel Gas has a twelve month low of $45.32 and a twelve month high of $63.54. The business has a 50-day moving average price of $60.27 and a 200 day moving average price of $57.33. The firm has a market cap of $5.73 billion, a PE ratio of 18.17 and a beta of 0.62.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. National Fuel Gas had a return on equity of 14.80% and a net margin of 16.42%. The firm had revenue of $417.40 million during the quarter, compared to analyst estimates of $540.62 million. During the same quarter in the previous year, the business earned $1.01 EPS. National Fuel Gas’s revenue for the quarter was down 2.6% compared to the same quarter last year. Sell-side analysts predict that National Fuel Gas will post 3.51 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

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. The ex-dividend date was Monday, September 30th. This represents a $2.06 annualized dividend and a yield of 3.29%. National Fuel Gas’s dividend payout ratio (DPR) is currently 59.71%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. StockNews.com lowered National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Finally, Scotiabank lifted their price target 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.

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.