Synergy Asset Management LLC Sells 56,407 Shares of National Fuel Gas Company (NYSE:NFG)

Synergy Asset Management LLC lessened its holdings in shares of National Fuel Gas Company (NYSE:NFG) by 60.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 36,474 shares of the oil and gas producer’s stock after selling 56,407 shares during the period. Synergy Asset Management LLC’s holdings in National Fuel Gas were worth $2,888,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NFG. Victory Capital Management Inc. increased its position in National Fuel Gas by 3.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,584,155 shares of the oil and gas producer’s stock worth $156,807,000 after buying an additional 85,950 shares during the period. Geode Capital Management LLC boosted its position in shares of National Fuel Gas by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 2,199,787 shares of the oil and gas producer’s stock valued at $146,502,000 after acquiring an additional 117,351 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of National Fuel Gas by 5.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,447,665 shares of the oil and gas producer’s stock worth $87,844,000 after acquiring an additional 70,332 shares during the last quarter. Norges Bank bought a new position in National Fuel Gas during the fourth quarter worth $67,393,000. Finally, Northern Trust Corp increased its position in National Fuel Gas by 37.9% during the fourth quarter. Northern Trust Corp now owns 1,019,072 shares of the oil and gas producer’s stock worth $61,837,000 after acquiring an additional 279,857 shares during the period. Institutional investors own 73.96% of the company’s stock.

Analysts Set New Price Targets

NFG has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on shares of National Fuel Gas from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, March 13th. Wall Street Zen cut shares of National Fuel Gas from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Bank of America boosted their price target on National Fuel Gas from $77.00 to $85.00 and gave the company an “underperform” rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, National Fuel Gas has an average rating of “Hold” and a consensus price target of $82.33.

National Fuel Gas Stock Up 0.3%

Shares of NFG stock opened at $85.66 on Friday. National Fuel Gas Company has a one year low of $53.88 and a one year high of $86.17. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.47 and a quick ratio of 0.43. The stock has a fifty day moving average price of $81.17 and a 200 day moving average price of $73.76. The stock has a market cap of $7.74 billion, a P/E ratio of 199.22, a price-to-earnings-growth ratio of 0.55 and a beta of 0.62.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.21. National Fuel Gas had a net margin of 1.91% and a return on equity of 18.55%. The company had revenue of $729.95 million during the quarter, compared to the consensus estimate of $770.81 million. During the same period last year, the firm earned $1.79 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Analysts predict that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.535 per share. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, June 30th. This represents a $2.14 dividend on an annualized basis and a yield of 2.50%. National Fuel Gas’s dividend payout ratio (DPR) is currently 479.07%.

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.