New York State Common Retirement Fund Decreases Stock Position in National Fuel Gas Company (NYSE:NFG)

New York State Common Retirement Fund lessened its stake in National Fuel Gas Company (NYSE:NFG - Free Report) by 9.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,856 shares of the oil and gas producer's stock after selling 3,500 shares during the quarter. New York State Common Retirement Fund's holdings in National Fuel Gas were worth $2,760,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NFG. CIBC Private Wealth Group LLC increased its position in shares of National Fuel Gas by 14.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,221 shares of the oil and gas producer's stock valued at $76,000 after acquiring an additional 153 shares during the last quarter. Donald L. Hagan LLC increased its position in shares of National Fuel Gas by 1.2% during the first quarter. Donald L. Hagan LLC now owns 15,598 shares of the oil and gas producer's stock valued at $1,235,000 after acquiring an additional 183 shares during the last quarter. Captrust Financial Advisors increased its position in shares of National Fuel Gas by 2.9% during the fourth quarter. Captrust Financial Advisors now owns 7,288 shares of the oil and gas producer's stock valued at $442,000 after acquiring an additional 204 shares during the last quarter. Allworth Financial LP increased its position in shares of National Fuel Gas by 12.7% during the first quarter. Allworth Financial LP now owns 2,045 shares of the oil and gas producer's stock valued at $159,000 after acquiring an additional 231 shares during the last quarter. Finally, Mariner LLC increased its position in shares of National Fuel Gas by 1.3% during the fourth quarter. Mariner LLC now owns 20,291 shares of the oil and gas producer's stock valued at $1,231,000 after acquiring an additional 258 shares during the last quarter. Institutional investors own 73.96% of the company's stock.

National Fuel Gas Price Performance

NYSE:NFG traded down $0.38 during trading hours on Thursday, hitting $87.20. 421,402 shares of the company's stock traded hands, compared to its average volume of 643,419. The company has a quick ratio of 0.43, a current ratio of 0.47 and a debt-to-equity ratio of 0.86. The business's fifty day simple moving average is $83.90 and its two-hundred day simple moving average is $77.56. National Fuel Gas Company has a 52 week low of $56.29 and a 52 week high of $89.82. The firm has a market cap of $7.88 billion, a P/E ratio of 202.80, a P/E/G ratio of 0.54 and a beta of 0.62.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $729.95 million during the quarter, compared to analyst estimates of $770.81 million. During the same quarter in the previous year, the company posted $1.79 earnings per share. The company's revenue was up 15.9% compared to the same quarter last year. On average, 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 company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.535 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.14 annualized dividend and a yield of 2.45%. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's payout ratio is 497.67%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NFG shares. Scotiabank raised their target price on 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. Wall Street Zen downgraded National Fuel Gas from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Bank of America raised National Fuel Gas from an "underperform" rating to a "buy" rating and raised their target price for the stock from $85.00 to $107.00 in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $95.33.

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.