Principal Financial Group Inc. Has $12.82 Million Position in National Fuel Gas (NYSE:NFG)

Principal Financial Group Inc. cut its holdings in shares of National Fuel Gas (NYSE:NFG) by 30.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 211,539 shares of the oil and gas producer’s stock after selling 94,521 shares during the period. Principal Financial Group Inc. owned about 0.23% of National Fuel Gas worth $12,821,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of National Fuel Gas during the third quarter worth $28,000. V Square Quantitative Management LLC bought a new stake in shares of National Fuel Gas in the 3rd quarter valued at about $29,000. Venturi Wealth Management LLC acquired a new stake in shares of National Fuel Gas in the third quarter valued at about $35,000. GAMMA Investing LLC raised its position in shares of National Fuel Gas by 38.6% during the third quarter. GAMMA Investing LLC now owns 696 shares of the oil and gas producer’s stock worth $42,000 after acquiring an additional 194 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC acquired a new position in shares of National Fuel Gas in the third quarter worth approximately $46,000. 73.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NFG. JPMorgan Chase & Co. lowered their price target on shares of National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Bank of America started coverage on shares of National Fuel Gas in a report on Monday, October 28th. They issued an “underperform” rating and a $62.00 target price on the stock. Argus upgraded National Fuel Gas to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, StockNews.com downgraded National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.00.

Insider Buying and Selling

In other news, insider Justin I. Loweth sold 19,532 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the completion of the sale, the insider now directly owns 41,841 shares of the company’s stock, valued at $2,605,439.07. The trade was a 31.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donna L. Decarolis sold 10,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $62.58, for a total transaction of $625,800.00. Following the completion of the sale, the insider now owns 81,519 shares in the company, valued at $5,101,459.02. This represents a 10.93 % decrease in their position. The disclosure for this sale can be found here. 1.55% of the stock is owned by company insiders.

National Fuel Gas Trading Down 0.4 %

NYSE:NFG opened at $60.36 on Friday. National Fuel Gas has a 12 month low of $45.32 and a 12 month high of $65.06. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 74.52 and a beta of 0.63. The firm has a fifty day simple moving average of $61.48 and a two-hundred day simple moving average of $59.37.

National Fuel Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Tuesday, December 31st. National Fuel Gas’s payout ratio is 254.32%.

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.