WNY Asset Management LLC Reduces Stake in National Fuel Gas (NYSE:NFG)

WNY Asset Management LLC trimmed its stake in National Fuel Gas (NYSE:NFG) by 18.5% during the fourth quarter, Holdings Channel reports. The fund owned 23,289 shares of the oil and gas producer’s stock after selling 5,278 shares during the period. WNY Asset Management LLC’s holdings in National Fuel Gas were worth $1,413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFG. Kentucky Trust Co purchased a new position in National Fuel Gas in the fourth quarter valued at about $25,000. UMB Bank n.a. boosted its stake in National Fuel Gas by 82.9% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 218 shares during the last quarter. Quarry LP purchased a new position in National Fuel Gas in the fourth quarter valued at about $32,000. S.A. Mason LLC purchased a new position in National Fuel Gas in the fourth quarter valued at about $38,000. Finally, Aster Capital Management DIFC Ltd boosted its stake in National Fuel Gas by 223.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 656 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 453 shares during the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

National Fuel Gas Price Performance

Shares of NYSE:NFG opened at $82.47 on Friday. National Fuel Gas has a one year low of $53.03 and a one year high of $83.35. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of -589.04 and a beta of 0.61. The company’s fifty day moving average price is $78.67 and its 200-day moving average price is $70.84. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.33.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.21. The business had revenue of $729.95 million during the quarter, compared to analysts’ expectations of $770.81 million. National Fuel Gas had a negative net margin of 0.53% and a positive return on equity of 15.96%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.79 EPS. On average, equities research analysts anticipate that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.515 per share. The ex-dividend date was Monday, March 31st. This represents a $2.06 annualized dividend and a yield of 2.50%. National Fuel Gas’s payout ratio is currently 479.07%.

Analyst Ratings Changes

Several analysts have recently issued reports on NFG shares. JPMorgan Chase & Co. boosted their price target on shares of National Fuel Gas from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, March 13th. Bank of America upped their target price on shares of National Fuel Gas from $77.00 to $85.00 and gave the stock an “underperform” rating in a report on Friday. Finally, Wall Street Zen raised shares of National Fuel Gas from a “sell” rating to a “hold” rating in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $82.33.

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.