National Fuel Gas (NYSE:NFG) Stake Boosted by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. grew its stake in shares of National Fuel Gas (NYSE:NFG) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 325,966 shares of the oil and gas producer’s stock after purchasing an additional 24,564 shares during the quarter. National Fuel Gas makes up 1.5% of Valley Wealth Managers Inc.’s portfolio, making the stock its 29th largest holding. Valley Wealth Managers Inc. owned about 0.36% of National Fuel Gas worth $19,757,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Beacon Capital Management LLC bought a new position in National Fuel Gas in the 1st quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new position in National Fuel Gas in the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in National Fuel Gas in the 3rd quarter worth approximately $29,000. Venturi Wealth Management LLC bought a new position in National Fuel Gas in the 3rd quarter worth approximately $35,000. Finally, Valley National Advisers Inc. bought a new position in National Fuel Gas in the 2nd quarter worth approximately $37,000. 73.96% of the stock is owned by institutional investors.

National Fuel Gas Stock Up 1.0 %

NFG traded up $0.58 on Friday, reaching $61.01. 13,361 shares of the company traded hands, compared to its average volume of 520,955. National Fuel Gas has a 52-week low of $45.32 and a 52-week high of $63.54. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.32 and a quick ratio of 0.25. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 74.59 and a beta of 0.62. The stock’s 50 day moving average price is $60.70 and its 200-day moving average price is $58.09.

National Fuel Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.06 annualized dividend and a dividend yield of 3.38%. National Fuel Gas’s dividend payout ratio is 254.32%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com downgraded National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Scotiabank increased their price objective 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. Finally, 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 price objective for the company.

Insider Activity at National Fuel Gas

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total transaction of $103,309.00. Following the transaction, the general counsel now directly owns 8,203 shares of the company’s stock, valued at $498,496.31. This represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.55% of the stock is currently owned by company insiders.

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.