Teachers Retirement System of The State of Kentucky lowered its position in National Fuel Gas (NYSE:NFG – Get Rating) by 6.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,250 shares of the oil and gas producer's stock after selling 900 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in National Fuel Gas were worth $842,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of NFG. Nauset Wealth Management. LLC purchased a new stake in National Fuel Gas in the first quarter worth approximately $34,000. Prospera Financial Services Inc purchased a new stake in National Fuel Gas in the first quarter worth approximately $36,000. CENTRAL TRUST Co boosted its stake in National Fuel Gas by 31.0% in the first quarter. CENTRAL TRUST Co now owns 786 shares of the oil and gas producer's stock worth $54,000 after buying an additional 186 shares in the last quarter. AGF Investments LLC boosted its stake in shares of National Fuel Gas by 36.7% during the first quarter. AGF Investments LLC now owns 894 shares of the oil and gas producer's stock valued at $61,000 after purchasing an additional 240 shares during the period. Finally, Van ECK Associates Corp purchased a new stake in shares of National Fuel Gas during the first quarter valued at approximately $71,000. Hedge funds and other institutional investors own 74.44% of the company's stock.
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Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on NFG. Scotiabank reissued an "assumes" rating on shares of National Fuel Gas in a research note on Monday, July 25th. Raymond James increased their price objective on National Fuel Gas from $76.00 to $86.00 in a research note on Friday, June 10th. Finally, The Goldman Sachs Group dropped their price objective on National Fuel Gas from $68.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $70.67.
National Fuel Gas Stock Performance
Shares of NFG stock opened at $64.55 on Friday. The stock has a fifty day moving average of $70.43 and a 200 day moving average of $69.50. National Fuel Gas has a 52 week low of $51.11 and a 52 week high of $75.97. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.83 and a beta of 0.68. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 1.04.
National Fuel Gas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Thursday, September 29th. National Fuel Gas's payout ratio is 35.32%.
About National Fuel Gas
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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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