National Fuel Gas Company (NYSE:NFG) Holdings Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of National Fuel Gas Company (NYSE:NFG - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,325 shares of the oil and gas producer's stock after selling 5,022 shares during the period. PNC Financial Services Group Inc. owned 0.08% of National Fuel Gas worth $5,965,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NFG. Assetmark Inc. boosted its holdings in National Fuel Gas by 9,475.0% in the 1st quarter. Assetmark Inc. now owns 383 shares of the oil and gas producer's stock valued at $30,000 after purchasing an additional 379 shares during the last quarter. Quarry LP purchased a new stake in National Fuel Gas in the 4th quarter valued at about $32,000. Ameriflex Group Inc. acquired a new position in National Fuel Gas in the fourth quarter valued at about $36,000. Aster Capital Management DIFC Ltd lifted its position in National Fuel Gas by 223.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 656 shares of the oil and gas producer's stock valued at $40,000 after buying an additional 453 shares during the last quarter. Finally, Cranbrook Wealth Management LLC acquired a new stake in shares of National Fuel Gas during the first quarter valued at about $40,000. 73.96% of the stock is owned by institutional investors and hedge funds.

National Fuel Gas Trading Up 0.7%

NFG stock traded up $0.64 during trading on Friday, reaching $87.95. 665,476 shares of the stock traded hands, compared to its average volume of 726,575. The firm has a market capitalization of $7.95 billion, a PE ratio of 33.07, a P/E/G ratio of 0.51 and a beta of 0.65. National Fuel Gas Company has a 52-week low of $58.30 and a 52-week high of $89.82. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.46 and a quick ratio of 0.39. The business's 50 day moving average price is $85.19 and its 200-day moving average price is $79.48.

National Fuel Gas (NYSE:NFG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.14. The company had revenue of $531.83 million during the quarter, compared to the consensus estimate of $596.12 million. National Fuel Gas had a net margin of 11.15% and a return on equity of 20.81%. National Fuel Gas's revenue for the quarter was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 earnings per share. As a group, sell-side analysts forecast that National Fuel Gas Company will post 6.64 earnings per share for the current year.

National Fuel Gas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.535 per share. This is an increase from National Fuel Gas's previous quarterly dividend of $0.52. The ex-dividend date was Monday, June 30th. This represents a $2.14 annualized dividend and a dividend yield of 2.4%. National Fuel Gas's dividend payout ratio (DPR) is currently 80.45%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NFG shares. Wall Street Zen cut shares of National Fuel Gas from a "buy" rating to a "hold" rating in a report on Sunday. Bank of America upgraded National Fuel Gas from an "underperform" rating to a "buy" rating and increased their price objective for the company from $85.00 to $107.00 in a report on Tuesday, July 15th. Finally, Scotiabank lifted their price objective on shares of National Fuel Gas from $88.00 to $98.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Two analysts have rated the stock with 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.33.

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.