Armbruster Capital Management Inc. Trims Stock Holdings in National Fuel Gas (NYSE:NFG)

Armbruster Capital Management Inc. reduced its position in National Fuel Gas (NYSE:NFG - Free Report) by 33.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in National Fuel Gas during the fourth quarter worth $367,000. V Square Quantitative Management LLC raised its holdings in shares of 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 buying an additional 239 shares in the last quarter. Allworth Financial LP lifted its position in shares of National Fuel Gas by 46.8% during the 4th quarter. Allworth Financial LP now owns 1,814 shares of the oil and gas producer's stock worth $110,000 after buying an additional 578 shares during the last quarter. Cardinal Capital Management boosted its stake in National Fuel Gas by 0.9% in the fourth quarter. Cardinal Capital Management now owns 93,429 shares of the oil and gas producer's stock valued at $5,717,000 after buying an additional 799 shares in the last quarter. Finally, ING Groep NV bought a new position in National Fuel Gas in the fourth quarter valued at about $1,086,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

National Fuel Gas Stock Up 0.9%

Shares of NYSE NFG traded up $0.76 during trading on Tuesday, hitting $84.51. The stock had a trading volume of 448,770 shares, compared to its average volume of 558,488. The firm has a fifty day moving average of $80.35 and a two-hundred day moving average of $73.20. The company has a market capitalization of $7.64 billion, a PE ratio of -603.60 and a beta of 0.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.33. National Fuel Gas has a 12 month low of $53.03 and a 12 month high of $85.02.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced 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 firm had revenue of $729.95 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $1.79 EPS. As a group, equities research analysts forecast that National Fuel Gas will post 6.64 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.535 dividend. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.52. The ex-dividend date is Monday, June 30th. This represents a $2.14 annualized dividend and a yield of 2.53%. National Fuel Gas's payout ratio is currently 479.07%.

Analyst Ratings Changes

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

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.