Summit Global Investments Cuts Stock Position in National Fuel Gas (NYSE:NFG)

Summit Global Investments lessened its stake in National Fuel Gas (NYSE:NFG - Free Report) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,351 shares of the oil and gas producer's stock after selling 6,485 shares during the period. Summit Global Investments owned about 0.05% of National Fuel Gas worth $3,829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kentucky Trust Co bought a new stake in shares of National Fuel Gas in the 4th quarter valued at about $25,000. Quarry LP bought a new stake in shares of National Fuel Gas in the 4th quarter valued at about $32,000. Ameriflex Group Inc. bought a new stake in shares of National Fuel Gas in the 4th quarter valued at about $36,000. S.A. Mason LLC bought a new stake in shares of National Fuel Gas in the 4th quarter valued at about $38,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of National Fuel Gas by 223.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 656 shares of the oil and gas producer's stock valued at $40,000 after acquiring an additional 453 shares during the last quarter. Institutional investors own 73.96% of the company's stock.

National Fuel Gas Trading Up 0.7%

NFG traded up $0.55 during midday trading on Friday, reaching $82.55. 510,484 shares of the company's stock traded hands, compared to its average volume of 559,488. The firm has a fifty day moving average of $79.06 and a two-hundred day moving average of $71.60. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of -589.60 and a beta of 0.61. 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 52 week low of $53.03 and a 52 week high of $83.40.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted 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. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. The firm had revenue of $729.95 million for the quarter, compared to the consensus estimate of $770.81 million. During the same quarter in the prior year, the business earned $1.79 EPS. The business's revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.515 per share. The ex-dividend date was Monday, March 31st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.50%. National Fuel Gas's dividend payout ratio (DPR) is 479.07%.

Analysts Set New Price Targets

A number of research analysts have commented on NFG shares. Bank of America upped their price target on National Fuel Gas from $77.00 to $85.00 and gave the company an "underperform" rating in a research report on Friday, May 23rd. Wall Street Zen raised National Fuel Gas from a "hold" rating to a "buy" rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a research report on Thursday, March 13th. One investment 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 company. Based on data from MarketBeat.com, National Fuel Gas currently has an average rating of "Moderate Buy" and a consensus 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.