Miracle Mile Advisors LLC purchased a new stake in shares of National Fuel Gas (NYSE:NFG – Get Rating) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 3,491 shares of the oil and gas producer's stock, valued at approximately $231,000.
Other hedge funds have also recently made changes to their positions in the company. AlphaCrest Capital Management LLC grew its position in shares of National Fuel Gas by 68.3% during the 1st quarter. AlphaCrest Capital Management LLC now owns 12,971 shares of the oil and gas producer's stock valued at $891,000 after purchasing an additional 5,265 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of National Fuel Gas by 1,010.1% during the 1st quarter. AdvisorNet Financial Inc now owns 1,099 shares of the oil and gas producer's stock valued at $76,000 after purchasing an additional 1,000 shares in the last quarter. Duality Advisers LP purchased a new position in shares of National Fuel Gas during the 1st quarter valued at $1,030,000. Mutual of America Capital Management LLC grew its position in shares of National Fuel Gas by 2.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 83,385 shares of the oil and gas producer's stock valued at $5,729,000 after purchasing an additional 1,831 shares in the last quarter. Finally, Foster & Motley Inc. grew its position in shares of National Fuel Gas by 43.7% during the 1st quarter. Foster & Motley Inc. now owns 6,732 shares of the oil and gas producer's stock valued at $462,000 after purchasing an additional 2,046 shares in the last quarter. 74.44% of the stock is currently owned by hedge funds and other institutional investors.
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National Fuel Gas Stock Performance
National Fuel Gas stock opened at $64.55 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $5.90 billion, a PE ratio of 12.00, a P/E/G ratio of 0.79 and a beta of 0.68. The firm has a fifty day simple moving average of $70.43 and a two-hundred day simple moving average of $69.51. National Fuel Gas has a twelve month low of $51.11 and a twelve month high of $75.97.
National Fuel Gas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, September 29th. National Fuel Gas's dividend payout ratio is presently 35.32%.
Analyst Ratings Changes
A number of analysts have recently issued reports on NFG shares. Raymond James lifted their price objective on shares of National Fuel Gas from $76.00 to $86.00 in a report on Friday, June 10th. The Goldman Sachs Group dropped their price objective on shares of National Fuel Gas from $68.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, July 5th. Finally, Scotiabank reaffirmed an "assumes" rating on shares of National Fuel Gas in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $70.67.
National Fuel Gas Profile
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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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