National Fuel Gas (NYSE:NFG) Shares Sold by Armbruster Capital Management Inc.

Armbruster Capital Management Inc. lessened its stake in shares of National Fuel Gas (NYSE:NFG - Free Report) by 33.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,732 shares of the oil and gas producer's stock after selling 7,500 shares during the quarter. Armbruster Capital Management Inc.'s holdings in National Fuel Gas were worth $1,167,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in National Fuel Gas during the 4th quarter worth about $32,000. Ameriflex Group Inc. purchased a new stake in National Fuel Gas during the 4th quarter worth about $36,000. Aster Capital Management DIFC Ltd increased its position in National Fuel Gas by 223.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 656 shares of the oil and gas producer's stock worth $40,000 after purchasing an additional 453 shares in the last quarter. Cranbrook Wealth Management LLC purchased a new stake in National Fuel Gas during the 1st quarter worth about $40,000. Finally, V Square Quantitative Management LLC increased its position in National Fuel Gas by 49.5% during the 4th quarter. V Square Quantitative Management LLC now owns 722 shares of the oil and gas producer's stock worth $44,000 after purchasing an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on NFG. Wall Street Zen upgraded National Fuel Gas from a "hold" rating to a "buy" rating in a report on Saturday. JPMorgan Chase & Co. lifted their price target on National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a report on Thursday, March 13th. Finally, Bank of America lifted their price target on National Fuel Gas from $77.00 to $85.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, National Fuel Gas currently has an average rating of "Moderate Buy" and a consensus price target of $82.33.

National Fuel Gas Trading Down 0.1%

NFG traded down $0.05 during midday trading on Friday, hitting $84.11. The company's stock had a trading volume of 428,235 shares, compared to its average volume of 559,144. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80. The firm has a market cap of $7.60 billion, a P/E ratio of -600.74 and a beta of 0.62. The firm has a 50-day moving average price of $80.13 and a two-hundred day moving average price of $72.93. National Fuel Gas has a 52-week low of $53.03 and a 52-week high of $84.60.

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 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.21. The business had revenue of $729.95 million for the quarter, compared to analyst estimates of $770.81 million. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. The company's revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.79 EPS. On average, research analysts anticipate that National Fuel Gas will post 6.64 earnings per share for the current year.

National Fuel Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.535 dividend. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.52. This represents a $2.14 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Monday, June 30th. National Fuel Gas's payout ratio is currently 479.07%.

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.