Retirement Systems of Alabama Decreases Holdings in National Fuel Gas (NYSE:NFG)

Retirement Systems of Alabama trimmed its holdings in shares of National Fuel Gas (NYSE:NFG) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 232,576 shares of the oil and gas producer’s stock after selling 2,472 shares during the quarter. Retirement Systems of Alabama owned 0.26% of National Fuel Gas worth $14,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NFG. Victory Capital Management Inc. raised its position in National Fuel Gas by 44.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,498,205 shares of the oil and gas producer’s stock worth $151,416,000 after purchasing an additional 765,236 shares during the period. AQR Capital Management LLC raised its position in National Fuel Gas by 159.5% in 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 period. Allspring Global Investments Holdings LLC raised its position in National Fuel Gas by 194.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 378,588 shares of the oil and gas producer’s stock worth $20,516,000 after purchasing an additional 249,967 shares during the period. Mackenzie Financial Corp raised its position in National Fuel Gas by 262.5% in the 2nd quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock worth $17,237,000 after purchasing an additional 230,332 shares during the period. Finally, Great Lakes Advisors LLC purchased a new stake in National Fuel Gas in the 2nd quarter worth about $10,741,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Argus raised shares of National Fuel Gas to a “strong-buy” rating in a research report on Tuesday, November 19th. StockNews.com lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th. JPMorgan Chase & Co. reduced their target price on shares of National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 12th. Scotiabank raised their target price on shares of National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Bank of America assumed coverage on shares of National Fuel Gas in a research report on Monday, October 28th. They set an “underperform” rating and a $62.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, National Fuel Gas currently has a consensus rating of “Hold” and a consensus price target of $69.00.

Insider Activity

In other news, insider Justin I. Loweth sold 19,532 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 41,841 shares in the company, valued at approximately $2,605,439.07. This trade represents a 31.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael W. Reville sold 1,700 shares of the stock in a transaction that occurred 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 owns 8,203 shares in the company, valued at approximately $498,496.31. This represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,232 shares of company stock worth $1,945,367. Corporate insiders own 1.55% of the company’s stock.

National Fuel Gas Price Performance

NYSE NFG opened at $61.37 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.25 and a current ratio of 0.32. The firm’s 50 day moving average price is $61.58 and its 200-day moving average price is $59.14. National Fuel Gas has a 52-week low of $45.32 and a 52-week high of $65.06. The company has a market cap of $5.57 billion, a PE ratio of 75.77 and a beta of 0.63.

National Fuel Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.515 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.36%. National Fuel Gas’s dividend payout ratio is presently 254.32%.

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.