Barnett & Company Inc. Acquires 4,700 Shares of National Fuel Gas (NYSE:NFG)

Barnett & Company Inc. lifted its holdings in shares of National Fuel Gas (NYSE:NFG) by 10.1% during the third quarter, HoldingsChannel reports. The firm owned 51,442 shares of the oil and gas producer’s stock after purchasing an additional 4,700 shares during the quarter. National Fuel Gas accounts for about 2.1% of Barnett & Company Inc.’s investment portfolio, making the stock its 15th biggest holding. Barnett & Company Inc.’s holdings in National Fuel Gas were worth $3,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of National Fuel Gas by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 13,313,064 shares of the oil and gas producer’s stock valued at $715,178,000 after acquiring an additional 104,587 shares during the period. Energy Income Partners LLC grew its holdings in National Fuel Gas by 2.4% during the first quarter. Energy Income Partners LLC now owns 2,595,437 shares of the oil and gas producer’s stock valued at $139,427,000 after purchasing an additional 62,009 shares during the period. Gabelli Funds LLC grew its holdings in National Fuel Gas by 1.0% during the second quarter. Gabelli Funds LLC now owns 2,533,482 shares of the oil and gas producer’s stock valued at $137,289,000 after purchasing an additional 24,800 shares during the period. Victory Capital Management Inc. increased its position in National Fuel Gas by 46.5% in the second quarter. Victory Capital Management Inc. now owns 1,732,969 shares of the oil and gas producer’s stock worth $93,910,000 after buying an additional 550,153 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of National Fuel Gas by 7.9% in the first quarter. Gamco Investors INC. ET AL now owns 1,320,850 shares of the oil and gas producer’s stock valued at $70,956,000 after buying an additional 96,410 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

National Fuel Gas Price Performance

NYSE:NFG traded up $0.50 during mid-day trading on Tuesday, reaching $61.97. The stock had a trading volume of 94,115 shares, compared to its average volume of 522,196. The stock has a market capitalization of $5.66 billion, a P/E ratio of 76.22 and a beta of 0.62. National Fuel Gas has a one year low of $45.32 and a one year high of $63.54. The firm has a 50 day moving average price of $60.63 and a two-hundred day moving average price of $58.00. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.65 and a current ratio of 0.32.

National Fuel Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given 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 yield of 3.32%. National Fuel Gas’s payout ratio is 254.32%.

Insider Activity

In related news, General Counsel Michael W. Reville sold 1,700 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total transaction of $103,309.00. Following the completion of the sale, the general counsel now directly owns 8,203 shares in the company, valued at $498,496.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Bank of America initiated coverage on National Fuel Gas in a research note on Monday, October 28th. They set an “underperform” rating and a $62.00 price target for the company. JPMorgan Chase & Co. cut their target price on shares of 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 lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Finally, Scotiabank increased their target price on 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.

About National Fuel Gas

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.