State Board of Administration of Florida Retirement System cut its holdings in shares of National Fuel Gas (NYSE:NFG – Get Rating) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,838 shares of the oil and gas producer’s stock after selling 2,614 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of National Fuel Gas worth $6,462,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. J.W. Cole Advisors Inc. bought a new stake in shares of National Fuel Gas during the first quarter worth about $32,000. Prospera Financial Services Inc bought a new stake in National Fuel Gas in the 1st quarter worth about $36,000. Lindbrook Capital LLC grew its position in National Fuel Gas by 47.5% in the 2nd quarter. Lindbrook Capital LLC now owns 553 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 178 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in National Fuel Gas in the 2nd quarter worth about $41,000. Finally, CENTRAL TRUST Co grew its position in National Fuel Gas by 31.0% in the 1st quarter. CENTRAL TRUST Co now owns 786 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 186 shares in the last quarter. 74.44% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Scotiabank reaffirmed an “assumes” rating on shares of National Fuel Gas in a research report on Monday, July 25th. StockNews.com assumed coverage on shares of National Fuel Gas in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Raymond James reduced their price objective on shares of National Fuel Gas from $86.00 to $78.00 and set an “outperform” rating for the company in a research report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $68.00.
National Fuel Gas Price Performance
National Fuel Gas Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Thursday, September 29th. National Fuel Gas’s payout ratio is 30.94%.
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 in California and in the Appalachian region of the United States.
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