National Fuel Gas (NYSE:NFG) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in National Fuel Gas (NYSE:NFG) by 33.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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. owned approximately 0.24% of National Fuel Gas worth $13,386,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MQS Management LLC grew its position in National Fuel Gas by 2.0% in the 3rd quarter. MQS Management LLC now owns 8,631 shares of the oil and gas producer’s stock valued at $523,000 after buying an additional 166 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of National Fuel Gas by 38.6% in the third quarter. GAMMA Investing LLC now owns 696 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 194 shares in the last quarter. Cullen Investment Group LTD. increased its stake in shares of National Fuel Gas by 0.7% during the third quarter. Cullen Investment Group LTD. now owns 30,021 shares of the oil and gas producer’s stock worth $1,820,000 after acquiring an additional 202 shares during the period. Financial Advocates Investment Management increased its stake in shares of National Fuel Gas by 6.2% during the second quarter. Financial Advocates Investment Management now owns 4,182 shares of the oil and gas producer’s stock worth $227,000 after acquiring an additional 243 shares during the period. Finally, Hancock Whitney Corp raised its holdings in National Fuel Gas by 1.4% during the third quarter. Hancock Whitney Corp now owns 21,363 shares of the oil and gas producer’s stock worth $1,295,000 after purchasing an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Price Performance

NFG stock opened at $59.93 on Friday. The firm has a 50 day moving average of $61.60 and a 200-day moving average of $59.20. The company has a market cap of $5.44 billion, a price-to-earnings 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. 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.515 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.06 annualized dividend and a yield of 3.44%. National Fuel Gas’s dividend payout ratio is presently 254.32%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other National Fuel Gas news, insider Donna L. Decarolis sold 10,000 shares of National Fuel Gas stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $62.58, for a total transaction of $625,800.00. Following the completion of the transaction, the insider now owns 81,519 shares in the company, valued at approximately $5,101,459.02. The trade was a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Justin I. Loweth sold 19,532 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,232 shares of company stock worth $1,945,367. 1.55% of the stock is owned by corporate insiders.

National Fuel Gas Profile

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.