Keybank National Association OH Lowers Stake in National Fuel Gas Company $NFG

Keybank National Association OH lowered its position in shares of National Fuel Gas Company (NYSE:NFG) by 10.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,007 shares of the oil and gas producer’s stock after selling 5,601 shares during the quarter. Keybank National Association OH’s holdings in National Fuel Gas were worth $4,067,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Foster & Motley Inc. lifted its holdings in National Fuel Gas by 14.9% during the second quarter. Foster & Motley Inc. now owns 69,353 shares of the oil and gas producer’s stock valued at $5,875,000 after purchasing an additional 8,993 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in National Fuel Gas during the second quarter valued at approximately $638,000. OneDigital Investment Advisors LLC purchased a new position in National Fuel Gas during the first quarter valued at approximately $203,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of National Fuel Gas by 5.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,184 shares of the oil and gas producer’s stock worth $1,044,000 after buying an additional 712 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of National Fuel Gas by 18.5% in the first quarter. KBC Group NV now owns 3,908 shares of the oil and gas producer’s stock worth $309,000 after buying an additional 609 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Trading Down 0.5%

Shares of NFG opened at $78.94 on Friday. The company’s fifty day moving average is $86.58 and its 200 day moving average is $84.64. National Fuel Gas Company has a fifty-two week low of $58.82 and a fifty-two week high of $94.13. The stock has a market capitalization of $7.13 billion, a PE ratio of 29.67, a P/E/G ratio of 0.45 and a beta of 0.58. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.39 and a current ratio of 0.46.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings results on Wednesday, July 30th. The oil and gas producer reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.14. National Fuel Gas had a net margin of 11.15% and a return on equity of 20.81%. The company had revenue of $531.83 million for the quarter, compared to analysts’ expectations of $596.12 million. During the same quarter in the previous year, the business posted $0.99 earnings per share. National Fuel Gas’s quarterly revenue was up 27.4% on a year-over-year basis. Sell-side analysts expect that National Fuel Gas Company will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, September 30th. National Fuel Gas’s payout ratio is currently 80.45%.

Analysts Set New Price Targets

Several research firms have recently commented on NFG. Zacks Research downgraded shares of National Fuel Gas from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Bank of America raised shares of National Fuel Gas from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $107.00 in a report on Tuesday, July 15th. Wall Street Zen downgraded shares of National Fuel Gas from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Scotiabank downgraded shares of National Fuel Gas from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $102.00 to $106.00 in a report on Thursday, October 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of National Fuel Gas in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, National Fuel Gas currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

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.