Millennium Management LLC Sells 151,019 Shares of National Fuel Gas (NYSE:NFG)

Millennium Management LLC cut its position in National Fuel Gas (NYSE:NFG) by 59.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,846 shares of the oil and gas producer’s stock after selling 151,019 shares during the quarter. Millennium Management LLC owned about 0.11% of National Fuel Gas worth $5,627,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in National Fuel Gas by 159.5% in the 2nd quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock valued at $47,711,000 after acquiring an additional 541,176 shares in the last quarter. Bank of Montreal Can grew its position in shares of National Fuel Gas by 3.0% in the 2nd quarter. Bank of Montreal Can now owns 11,152 shares of the oil and gas producer’s stock valued at $617,000 after buying an additional 322 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in shares of National Fuel Gas in the 2nd quarter valued at about $718,000. Gabelli Funds LLC grew its position in shares of 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 buying an additional 24,800 shares during the last quarter. Finally, Hancock Whitney Corp grew its position in shares of National Fuel Gas by 24.4% in the 2nd quarter. Hancock Whitney Corp now owns 21,060 shares of the oil and gas producer’s stock valued at $1,141,000 after buying an additional 4,130 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on NFG shares. StockNews.com upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. lowered 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. Finally, Scotiabank increased their price objective on National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th.

National Fuel Gas Price Performance

Shares of NYSE NFG opened at $60.35 on Friday. The stock has a fifty day simple moving average of $59.63 and a two-hundred day simple moving average of $56.77. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $61.56. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 17.49 and a beta of 0.62. The company has a current ratio of 0.77, a quick ratio of 0.65 and a debt-to-equity ratio of 0.85.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. Analysts anticipate that National Fuel Gas will post 5.05 earnings per share for the current year.

National Fuel Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.515 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.41%. National Fuel Gas’s dividend payout ratio (DPR) is presently 59.71%.

Insider Buying and Selling

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total transaction of $103,309.00. Following the sale, the general counsel now owns 8,203 shares in the company, valued at $498,496.31. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.55% of the stock is currently owned by company insiders.

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.