Independent Solutions Wealth Management LLC Trims Holdings in National Fuel Gas Company (NYSE:NFG)

Independent Solutions Wealth Management LLC reduced its position in shares of National Fuel Gas Company (NYSE:NFG) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,904 shares of the oil and gas producer’s stock after selling 1,258 shares during the period. Independent Solutions Wealth Management LLC’s holdings in National Fuel Gas were worth $1,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. increased its stake in National Fuel Gas by 3.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,584,155 shares of the oil and gas producer’s stock valued at $156,807,000 after purchasing an additional 85,950 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of National Fuel Gas by 5.6% during the 4th 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 buying an additional 117,351 shares during the period. Gamco Investors INC. ET AL boosted 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 valued at $87,844,000 after purchasing an additional 70,332 shares during the period. Norges Bank purchased a new position in National Fuel Gas in the 4th quarter valued at about $67,393,000. Finally, Northern Trust Corp grew its stake in National Fuel Gas by 37.9% during the 4th quarter. Northern Trust Corp now owns 1,019,072 shares of the oil and gas producer’s stock valued at $61,837,000 after purchasing an additional 279,857 shares in 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 NFG opened at $85.51 on Wednesday. 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 company has a market cap of $7.73 billion, a P/E ratio of 198.86, a PEG ratio of 0.55 and a beta of 0.62. National Fuel Gas Company has a 12 month low of $53.88 and a 12 month high of $86.45. The stock has a fifty day moving average price of $81.49 and a 200 day moving average price of $74.10.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.21. The business had revenue of $729.95 million for the quarter, compared to analysts’ expectations of $770.81 million. National Fuel Gas had a net margin of 1.91% and a return on equity of 18.55%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.79 EPS. On average, research analysts forecast 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. Stockholders of record on Monday, June 30th will be paid a $0.535 dividend. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.14 annualized dividend and a dividend yield of 2.50%. National Fuel Gas’s dividend payout ratio is presently 479.07%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NFG. Wall Street Zen lowered shares of National Fuel Gas from a “buy” rating to a “hold” rating in a research note on Sunday. Bank of America boosted their target price on shares of National Fuel Gas from $77.00 to $85.00 and gave the company an “underperform” rating in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. lifted 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, National Fuel Gas has an average rating of “Hold” and a consensus target price of $82.33.

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.