Quest Partners LLC Reduces Holdings in National Fuel Gas (NYSE:NFG)

Quest Partners LLC trimmed its stake in National Fuel Gas (NYSE:NFG) by 89.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,853 shares of the oil and gas producer’s stock after selling 24,991 shares during the period. Quest Partners LLC’s holdings in National Fuel Gas were worth $173,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NFG. Beacon Capital Management LLC purchased a new position in shares of National Fuel Gas in the 1st quarter valued at $27,000. Capital Performance Advisors LLP acquired a new stake in National Fuel Gas during the 3rd quarter worth $28,000. V Square Quantitative Management LLC acquired a new stake in National Fuel Gas during the 3rd quarter worth $29,000. Venturi Wealth Management LLC acquired a new stake in National Fuel Gas during the 3rd quarter worth $35,000. Finally, Valley National Advisers Inc. acquired a new stake in National Fuel Gas during the 2nd quarter worth $37,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

National Fuel Gas Stock Performance

Shares of NYSE NFG opened at $63.43 on Thursday. The company has a market cap of $5.76 billion, a PE ratio of 78.87 and a beta of 0.62. National Fuel Gas has a 12 month low of $45.32 and a 12 month high of $65.06. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.32 and a quick ratio of 0.25. The company has a 50-day simple moving average of $61.13 and a 200-day simple moving average of $58.57.

National Fuel Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.25%. National Fuel Gas’s dividend payout ratio (DPR) is presently 254.32%.

Insider Transactions at National Fuel Gas

In related news, General Counsel Michael W. Reville sold 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total value of $103,309.00. Following the sale, the general counsel now directly owns 8,203 shares of the company’s stock, valued at approximately $498,496.31. This trade represents a 17.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NFG. JPMorgan Chase & Co. decreased their price target on shares of National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating for the company in a research note on Tuesday, November 12th. Argus upgraded shares of National Fuel Gas to a “strong-buy” rating in a report on Tuesday, November 19th. Scotiabank increased their price target on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America began coverage on shares of National Fuel Gas in a report on Monday, October 28th. They set an “underperform” rating and a $62.00 target price for the company. Finally, StockNews.com upgraded shares of National Fuel Gas from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, National Fuel Gas has an average rating of “Hold” and an average target price of $69.00.

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.