Empowered Funds LLC Takes Position in National Fuel Gas (NYSE:NFG)

Empowered Funds LLC purchased a new position in shares of National Fuel Gas (NYSE:NFG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 21,062 shares of the oil and gas producer’s stock, valued at approximately $1,277,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NFG. Victory Capital Management Inc. boosted its holdings 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 acquiring an additional 765,236 shares during the period. AQR Capital Management LLC grew its position in National Fuel Gas by 159.5% during the 2nd quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock worth $47,711,000 after purchasing an additional 541,176 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in National Fuel Gas by 194.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 378,588 shares of the oil and gas producer’s stock valued at $20,516,000 after purchasing an additional 249,967 shares during the period. Mackenzie Financial Corp grew its holdings in shares of National Fuel Gas by 262.5% during the second quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock worth $17,237,000 after buying an additional 230,332 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in shares of National Fuel Gas during the second quarter worth about $10,741,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

National Fuel Gas Trading Up 1.1 %

Shares of NFG stock opened at $64.24 on Friday. The business’s fifty day moving average price is $61.02 and its 200 day moving average price is $58.44. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $64.30. The firm has a market capitalization of $5.87 billion, a PE ratio of 79.31 and a beta of 0.62. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Monday, September 30th. National Fuel Gas’s dividend payout ratio is presently 254.32%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NFG shares. Bank of America started coverage on National Fuel Gas in a research report on Monday, October 28th. They set an “underperform” rating and a $62.00 price objective for the company. Scotiabank boosted their target price on National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com raised National Fuel Gas from a “sell” rating to a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th.

Insider Buying and Selling

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of the business’s stock in a transaction 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 Securities & Exchange Commission, which can be accessed through this link. 1.55% of the stock is currently owned by corporate insiders.

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.