Franklin Resources Inc. Boosts Stock Position in National Fuel Gas (NYSE:NFG)

Franklin Resources Inc. raised its position in National Fuel Gas (NYSE:NFG) by 33.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,869 shares of the oil and gas producer’s stock after purchasing an additional 55,152 shares during the period. Franklin Resources Inc.’s holdings in National Fuel Gas were worth $13,386,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of National Fuel Gas by 44.2% in the third quarter. Victory Capital Management Inc. now owns 2,498,205 shares of the oil and gas producer’s stock valued at $151,416,000 after buying an additional 765,236 shares during the last quarter. AQR Capital Management LLC grew its stake 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 acquiring an additional 541,176 shares during the period. Allspring Global Investments Holdings LLC raised its holdings 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 valued at $20,516,000 after acquiring an additional 249,967 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of National Fuel Gas by 262.5% during 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 position in shares of National Fuel Gas during the 2nd quarter worth $10,741,000. 73.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on NFG. StockNews.com raised National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Bank of America assumed coverage on shares of National Fuel Gas in a report on Monday, October 28th. They set an “underperform” rating and a $62.00 price objective on the stock. Finally, Argus upgraded shares of National Fuel Gas to a “strong-buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $69.00.

National Fuel Gas Price Performance

NFG stock opened at $59.93 on Friday. The company has a market cap of $5.44 billion, a PE ratio of 73.99 and a beta of 0.63. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $61.60 and a two-hundred day moving average price of $59.20. National Fuel Gas has a 12-month low of $45.32 and a 12-month high of $65.06.

National Fuel Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Tuesday, December 31st. National Fuel Gas’s payout ratio is currently 254.32%.

Insider Buying and Selling

In other news, insider Donna L. Decarolis sold 10,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $62.58, for a total value of $625,800.00. Following the completion of the sale, the insider now owns 81,519 shares in the company, valued at approximately $5,101,459.02. This trade represents a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin I. Loweth sold 19,532 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $62.27, for a total value of $1,216,257.64. Following the transaction, the insider now directly owns 41,841 shares in the company, valued at $2,605,439.07. This trade represents a 31.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,232 shares of company stock valued at $1,945,367. 1.55% of the stock is currently owned by corporate insiders.

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.