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

Retirement Systems of Alabama reduced its holdings in shares of National Fuel Gas (NYSE:NFG) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 235,048 shares of the oil and gas producer’s stock after selling 2,241 shares during the quarter. Retirement Systems of Alabama owned 0.26% of National Fuel Gas worth $12,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of National Fuel Gas in the 4th quarter worth $49,804,000. Equity Investment Corp increased its position in shares of National Fuel Gas by 27.7% during the 1st quarter. Equity Investment Corp now owns 1,242,186 shares of the oil and gas producer’s stock valued at $66,730,000 after purchasing an additional 269,441 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in shares of National Fuel Gas by 22.9% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,042,509 shares of the oil and gas producer’s stock worth $52,302,000 after purchasing an additional 193,910 shares during the period. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of National Fuel Gas in the fourth quarter worth approximately $8,251,000. Finally, Victory Capital Management Inc. grew its position in National Fuel Gas by 22.4% during the fourth quarter. Victory Capital Management Inc. now owns 890,464 shares of the oil and gas producer’s stock valued at $44,675,000 after buying an additional 162,805 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at National Fuel Gas

In other National Fuel Gas news, General Counsel Michael W. Reville sold 6,357 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $54.83, for a total transaction of $348,554.31. Following the completion of the transaction, the general counsel now owns 9,903 shares in the company, valued at $542,981.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.55% of the stock is currently owned by insiders.

National Fuel Gas Stock Performance

Shares of NYSE:NFG traded up $0.11 during mid-day trading on Friday, reaching $58.93. 312,001 shares of the company traded hands, compared to its average volume of 544,137. The company’s 50 day moving average price is $56.90 and its 200-day moving average price is $54.24. The firm has a market cap of $5.42 billion, a PE ratio of 11.69 and a beta of 0.62. National Fuel Gas has a 52 week low of $45.32 and a 52 week high of $59.62. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.77 and a quick ratio of 0.50.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. The firm had revenue of $417.40 million during the quarter, compared to analysts’ expectations of $540.62 million. During the same period in the prior year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities analysts expect that National Fuel Gas will post 6 EPS for the current fiscal year.

National Fuel Gas Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.50%. This is a boost from National Fuel Gas’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, June 28th. National Fuel Gas’s dividend payout ratio (DPR) is presently 40.87%.

Analyst Ratings Changes

Several research analysts have weighed in on NFG shares. Scotiabank increased their price target 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. StockNews.com cut National Fuel Gas from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

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.