Smith Moore & CO. Trims Position in National Fuel Gas (NYSE:NFG)

Smith Moore & CO. lowered its holdings in National Fuel Gas (NYSE:NFG) by 2.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,494 shares of the oil and gas producer’s stock after selling 500 shares during the period. Smith Moore & CO.’s holdings in National Fuel Gas were worth $1,304,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in National Fuel Gas by 3.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,584,155 shares of the oil and gas producer’s stock worth $156,807,000 after purchasing an additional 85,950 shares during the period. Geode Capital Management LLC increased 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 worth $146,502,000 after buying an additional 117,351 shares during the last quarter. Norges Bank acquired a new position in National Fuel Gas in the fourth quarter valued at $67,393,000. Brandywine Global Investment Management LLC purchased a new stake in National Fuel Gas during the fourth quarter valued at about $16,906,000. Finally, Franklin Resources Inc. increased its stake in National Fuel Gas by 33.3% during the third quarter. Franklin Resources Inc. now owns 220,869 shares of the oil and gas producer’s stock worth $13,386,000 after acquiring an additional 55,152 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

National Fuel Gas Stock Down 7.2 %

Shares of NYSE:NFG opened at $73.11 on Friday. The company has a 50 day moving average of $74.41 and a two-hundred day moving average of $66.25. National Fuel Gas has a 52-week low of $51.46 and a 52-week high of $80.14. The company has a quick ratio of 0.33, a current ratio of 0.39 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of -522.21 and a beta of 0.61.

National Fuel Gas (NYSE:NFG) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. National Fuel Gas had a negative net margin of 0.53% and a positive return on equity of 15.96%. During the same period last year, the company posted $1.46 EPS. As a group, analysts forecast that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.515 per share. The ex-dividend date is Monday, March 31st. This represents a $2.06 annualized dividend and a yield of 2.82%. National Fuel Gas’s dividend payout ratio is presently -1,471.43%.

Wall Street Analyst Weigh In

NFG has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on National Fuel Gas from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, March 13th. StockNews.com upgraded shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.67.

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.