Wellington Management Group LLP Sells 1,438 Shares of National Fuel Gas (NYSE:NFG)

Wellington Management Group LLP lowered its holdings in National Fuel Gas (NYSE:NFG) by 2.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 59,457 shares of the oil and gas producer’s stock after selling 1,438 shares during the quarter. Wellington Management Group LLP’s holdings in National Fuel Gas were worth $3,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Gabelli Funds LLC raised its position in shares of National Fuel Gas by 1.0% in the second quarter. Gabelli Funds LLC now owns 2,533,482 shares of the oil and gas producer’s stock valued at $137,289,000 after purchasing an additional 24,800 shares during the period. Victory Capital Management Inc. raised its position in shares of National Fuel Gas by 44.2% in the third quarter. Victory Capital Management Inc. now owns 2,498,205 shares of the oil and gas producer’s stock valued at $151,416,000 after purchasing an additional 765,236 shares during the period. Bank of New York Mellon Corp raised its position in shares of National Fuel Gas by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,274,893 shares of the oil and gas producer’s stock valued at $69,086,000 after purchasing an additional 3,816 shares during the period. Equity Investment Corp grew its stake in National Fuel Gas by 0.4% during the second quarter. Equity Investment Corp now owns 1,246,822 shares of the oil and gas producer’s stock valued at $67,565,000 after acquiring an additional 4,636 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in National Fuel Gas by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 930,775 shares of the oil and gas producer’s stock valued at $50,441,000 after acquiring an additional 93,780 shares in the last quarter. Institutional investors own 73.96% of the company’s stock.

Insiders Place Their Bets

In other news, insider Donna L. Decarolis sold 10,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $62.58, for a total value of $625,800.00. Following the completion of the sale, the insider now owns 81,519 shares of the company’s stock, valued at approximately $5,101,459.02. This represents a 10.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Justin I. Loweth sold 19,532 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the completion of the sale, the insider now directly owns 41,841 shares of the company’s stock, valued at $2,605,439.07. This trade represents a 31.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,232 shares of company stock valued at $1,945,367 in the last quarter. Corporate insiders own 1.55% of the company’s stock.

National Fuel Gas Price Performance

NFG stock opened at $60.62 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.32 and a quick ratio of 0.25. National Fuel Gas has a one year low of $45.32 and a one year high of $65.06. The stock has a market cap of $5.51 billion, a PE ratio of 74.84 and a beta of 0.63. The firm has a 50 day simple moving average of $61.61 and a two-hundred day simple moving average of $59.20.

National Fuel Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.515 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.06 dividend on an annualized basis and a yield of 3.40%. National Fuel Gas’s dividend payout ratio is presently 254.32%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NFG. StockNews.com raised shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Monday. Scotiabank boosted their price objective on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Argus raised shares of National Fuel Gas to a “strong-buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. reduced their price objective on shares of National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating for the company in a research note on Tuesday, November 12th. Finally, Bank of America initiated coverage on shares of National Fuel Gas in a research note on Monday, October 28th. They issued an “underperform” rating and a $62.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, National Fuel Gas presently has a consensus rating of “Hold” and a consensus price target of $69.00.

About National Fuel Gas

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.