Allianz Asset Management GmbH Trims Stake in National Fuel Gas Company (NYSE:NFG)

Key Points

• Allianz Asset Management GmbH has reduced its stake in National Fuel Gas by 20.9%, now holding approximately 0.21% of the company, valued at about $15.3 million.
• In the latest analyst reports, National Fuel Gas was downgraded from a "buy" to a "hold" rating by Wall Street Zen, while Bank of America upgraded it to "buy," setting a target price of $107.00.
• National Fuel Gas has increased its quarterly dividend to $0.535, representing a yield of 2.47% and a significant dividend payout ratio of 497.67%.

Allianz Asset Management GmbH lowered its stake in National Fuel Gas Company (NYSE:NFG - Free Report) by 20.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 193,398 shares of the oil and gas producer's stock after selling 51,244 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.21% of National Fuel Gas worth $15,315,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of National Fuel Gas during the fourth quarter worth $67,393,000. Northern Trust Corp increased its stake in National Fuel Gas by 37.9% in the fourth 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 during the last quarter. Brandywine Global Investment Management LLC acquired a new position in National Fuel Gas in the fourth quarter valued at $16,906,000. Los Angeles Capital Management LLC acquired a new position in National Fuel Gas in the first quarter valued at $14,486,000. Finally, Allspring Global Investments Holdings LLC increased its stake in National Fuel Gas by 62.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 458,112 shares of the oil and gas producer's stock valued at $36,557,000 after purchasing an additional 176,290 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company's stock.

Analysts Set New Price Targets

NFG has been the subject of several analyst reports. Wall Street Zen lowered National Fuel Gas from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Scotiabank upped their target price on National Fuel Gas from $88.00 to $98.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Finally, Bank of America upgraded National Fuel Gas from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $85.00 to $107.00 in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $95.33.

National Fuel Gas Trading Down 0.7%

NFG stock opened at $86.58 on Friday. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 201.35, a PEG ratio of 0.52 and a beta of 0.62. The company has a quick ratio of 0.43, a current ratio of 0.47 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $84.13 and a 200-day simple moving average of $77.92. National Fuel Gas Company has a 52 week low of $56.29 and a 52 week high of $89.82.

National Fuel Gas (NYSE:NFG - Get Free Report) 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 return on equity of 18.55% and a net margin of 1.91%. The business had revenue of $729.95 million during the quarter, compared to the consensus estimate of $770.81 million. During the same period in the prior year, the firm posted $1.79 EPS. The business's revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts expect that National Fuel Gas Company will post 6.64 EPS for the current year.

National Fuel Gas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.535 dividend. This is an increase from National Fuel Gas's previous quarterly dividend of $0.52. This represents a $2.14 annualized dividend and a yield of 2.47%. The ex-dividend date was Monday, June 30th. National Fuel Gas's dividend payout ratio is currently 497.67%.

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.

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