JPMorgan Chase & Co. Has Lowered Expectations for National Fuel Gas (NYSE:NFG) Stock Price

National Fuel Gas (NYSE:NFG) had its target price decreased by JPMorgan Chase & Co. from $65.00 to $64.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the oil and gas producer’s stock.

NFG has been the topic of several other reports. StockNews.com cut National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Bank of America began coverage on National Fuel Gas in a research note on Monday, October 28th. They issued an “underperform” rating and a $62.00 target price on the stock. Finally, Scotiabank boosted their price objective on shares of National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th.

National Fuel Gas Price Performance

Shares of National Fuel Gas stock opened at $60.42 on Tuesday. The firm has a market cap of $5.52 billion, a PE ratio of 74.59 and a beta of 0.62. The company’s fifty day simple moving average is $60.70 and its two-hundred day simple moving average is $58.09. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.77. National Fuel Gas has a 12-month low of $45.32 and a 12-month high of $63.54.

National Fuel Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.515 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.06 annualized dividend and a yield of 3.41%. National Fuel Gas’s dividend payout ratio (DPR) is presently 254.32%.

Insider Activity

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of National Fuel Gas stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total transaction of $103,309.00. Following the completion of the sale, the general counsel now directly owns 8,203 shares in the company, valued at approximately $498,496.31. The trade was a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On National Fuel Gas

Hedge funds and other institutional investors have recently made changes to their positions in the company. Beacon Capital Management LLC acquired a new position in shares of National Fuel Gas during the 1st quarter worth about $27,000. Capital Performance Advisors LLP purchased a new stake in shares of National Fuel Gas during the 3rd quarter valued at approximately $28,000. V Square Quantitative Management LLC purchased a new stake in National Fuel Gas in the third quarter valued at $29,000. Venturi Wealth Management LLC acquired a new position in National Fuel Gas in the third quarter valued at about $35,000. Finally, Valley National Advisers Inc. purchased a new position in shares of National Fuel Gas during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

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.