National Fuel Gas Company (NYSE:NFG) Stock Position Cut by Valley Wealth Managers Inc.

Key Points

• Valley Wealth Managers Inc. decreased its stake in National Fuel Gas Company by 5.4%, owning 305,800 shares valued at approximately $24.2 million as of the last reporting period.
• Several analysts have recently upgraded their ratings for National Fuel Gas, with Bank of America raising its rating to "buy" and increasing the target price from $85.00 to $107.00.
• National Fuel Gas recently increased its quarterly dividend from $0.52 to $0.535, resulting in a dividend yield of 2.47%, despite a high dividend payout ratio of 497.67%.

Valley Wealth Managers Inc. trimmed its stake in National Fuel Gas Company (NYSE:NFG - Free Report) by 5.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 305,800 shares of the oil and gas producer's stock after selling 17,589 shares during the quarter. National Fuel Gas comprises 1.8% of Valley Wealth Managers Inc.'s portfolio, making the stock its 13th largest position. Valley Wealth Managers Inc. owned about 0.34% of National Fuel Gas worth $24,216,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Assetmark Inc. grew its stake in National Fuel Gas by 9,475.0% during the first quarter. Assetmark Inc. now owns 383 shares of the oil and gas producer's stock worth $30,000 after buying an additional 379 shares during the period. Inlight Wealth Management LLC acquired a new position in shares of National Fuel Gas during the first quarter worth $40,000. Cranbrook Wealth Management LLC acquired a new position in shares of National Fuel Gas during the first quarter worth $40,000. Quarry LP acquired a new position in shares of National Fuel Gas during the fourth quarter worth $32,000. Finally, Ameriflex Group Inc. acquired a new position in shares of National Fuel Gas during the fourth quarter worth $36,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Scotiabank boosted their target price on shares of National Fuel Gas from $88.00 to $98.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. 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 research report on Tuesday, July 15th. Finally, Wall Street Zen cut shares of National Fuel Gas from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, National Fuel Gas presently has an average rating of "Moderate Buy" and an average price target of $95.33.

National Fuel Gas Stock Up 0.7%

NFG traded up $0.63 during trading on Wednesday, hitting $88.46. The company had a trading volume of 252,527 shares, compared to its average volume of 639,889. The company has a market cap of $7.99 billion, a PE ratio of 205.39, a P/E/G ratio of 0.51 and a beta of 0.62. The business has a 50-day moving average of $84.36 and a 200-day moving average of $78.37. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.47 and a quick ratio of 0.43. National Fuel Gas Company has a 1-year low of $56.29 and a 1-year high of $89.82.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its earnings results 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 company 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 firm's revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.79 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from National Fuel Gas's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, June 30th. National Fuel Gas's dividend payout ratio is 497.67%.

National Fuel Gas Company 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.