Principal Financial Group Inc. Sells 94,521 Shares of National Fuel Gas (NYSE:NFG)

Principal Financial Group Inc. trimmed its holdings in National Fuel Gas (NYSE:NFG) by 30.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,539 shares of the oil and gas producer’s stock after selling 94,521 shares during the period. Principal Financial Group Inc.’s holdings in National Fuel Gas were worth $12,821,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of National Fuel Gas by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 13,313,064 shares of the oil and gas producer’s stock valued at $715,178,000 after purchasing an additional 104,587 shares during the last quarter. Energy Income Partners LLC lifted its position in shares of National Fuel Gas by 2.4% in the first quarter. Energy Income Partners LLC now owns 2,595,437 shares of the oil and gas producer’s stock worth $139,427,000 after buying an additional 62,009 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of National Fuel Gas by 1.0% during the 2nd quarter. Gabelli Funds LLC now owns 2,533,482 shares of the oil and gas producer’s stock worth $137,289,000 after acquiring an additional 24,800 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of National Fuel Gas by 46.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,732,969 shares of the oil and gas producer’s stock valued at $93,910,000 after acquiring an additional 550,153 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of National Fuel Gas by 7.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,320,850 shares of the oil and gas producer’s stock valued at $70,956,000 after acquiring an additional 96,410 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

Insider Activity

In other news, General Counsel Michael W. Reville sold 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total transaction of $103,309.00. Following the sale, the general counsel now directly owns 8,203 shares in the company, valued at approximately $498,496.31. The trade was a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.55% of the stock is owned by company insiders.

National Fuel Gas Trading Up 1.1 %

Shares of National Fuel Gas stock opened at $61.08 on Friday. National Fuel Gas has a 1 year low of $45.32 and a 1 year high of $63.54. The company’s fifty day simple moving average is $60.75 and its 200-day simple moving average is $58.18. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 75.41 and a beta of 0.62. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77.

National Fuel Gas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.515 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.06 annualized dividend and a yield of 3.37%. National Fuel Gas’s dividend payout ratio is 254.32%.

Wall Street Analysts Forecast Growth

NFG has been the subject of a number of recent analyst reports. Bank of America began coverage on National Fuel Gas in a research report on Monday, October 28th. They set an “underperform” rating and a $62.00 target price for the company. StockNews.com lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. JPMorgan Chase & Co. cut their target price on shares of National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Finally, Scotiabank raised their price target on National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th.

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.