Synergy Asset Management LLC Reduces Holdings in National Fuel Gas Company (NYSE:NFG)

Synergy Asset Management LLC decreased its position in National Fuel Gas Company (NYSE:NFG - Free Report) by 60.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,474 shares of the oil and gas producer's stock after selling 56,407 shares during the period. Synergy Asset Management LLC's holdings in National Fuel Gas were worth $2,888,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NFG. Inlight Wealth Management LLC purchased a new position in shares of National Fuel Gas during the first quarter valued at $40,000. Garde Capital Inc. bought a new stake in shares of National Fuel Gas in the 1st quarter valued at about $116,000. Aspiriant LLC purchased a new stake in shares of National Fuel Gas in the 1st quarter worth approximately $240,000. CWA Asset Management Group LLC boosted its stake in shares of National Fuel Gas by 26.9% during the first quarter. CWA Asset Management Group LLC now owns 9,798 shares of the oil and gas producer's stock valued at $776,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Cardinal Capital Management increased its holdings in National Fuel Gas by 2.6% during the first quarter. Cardinal Capital Management now owns 95,885 shares of the oil and gas producer's stock valued at $7,642,000 after buying an additional 2,456 shares during the period. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

National Fuel Gas Price Performance

National Fuel Gas stock traded down $1.82 during trading on Wednesday, reaching $83.64. The company had a trading volume of 464,086 shares, compared to its average volume of 561,102. The firm has a market capitalization of $7.56 billion, a PE ratio of 194.50, a price-to-earnings-growth ratio of 0.55 and a beta of 0.62. The firm's 50-day simple moving average is $81.59 and its 200 day simple moving average is $74.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.43 and a current ratio of 0.47. National Fuel Gas Company has a 1-year low of $53.88 and a 1-year high of $86.53.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $729.95 million for the quarter, compared to analysts' expectations of $770.81 million. During the same period in the previous year, the firm posted $1.79 EPS. National Fuel Gas's revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that National Fuel Gas Company will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.535 per share. This is a boost from National Fuel Gas's previous quarterly dividend of $0.52. This represents a $2.14 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Monday, June 30th. National Fuel Gas's payout ratio is currently 479.07%.

Analyst Ratings Changes

Several brokerages have issued reports on NFG. Wall Street Zen cut National Fuel Gas from a "buy" rating to a "hold" rating in a research report on Sunday. Bank of America lifted their target price on shares of National Fuel Gas from $77.00 to $85.00 and gave the stock an "underperform" rating in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of National Fuel Gas from $77.00 to $81.00 and gave the stock a "neutral" rating in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, National Fuel Gas currently has an average rating of "Hold" and an average price target of $82.33.

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.