C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys New Shares in National Fuel Gas (NYSE:NFG)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in National Fuel Gas (NYSE:NFG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,042 shares of the oil and gas producer’s stock, valued at approximately $367,000.

Other hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. lifted its stake in shares of National Fuel Gas by 12.6% in the third quarter. Daiwa Securities Group Inc. now owns 7,698 shares of the oil and gas producer’s stock valued at $467,000 after buying an additional 859 shares during the period. Clear Creek Financial Management LLC bought a new position in National Fuel Gas during the fourth quarter worth about $238,000. Zacks Investment Management bought a new position in National Fuel Gas during the third quarter worth about $957,000. Empowered Funds LLC bought a new position in National Fuel Gas during the third quarter worth about $1,277,000. Finally, Vestcor Inc bought a new position in National Fuel Gas during the third quarter worth about $716,000. Institutional investors own 73.96% of the company’s stock.

National Fuel Gas Stock Performance

NYSE NFG opened at $72.76 on Friday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of -519.68 and a beta of 0.64. The company has a 50 day moving average of $66.25 and a 200-day moving average of $62.59. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80. National Fuel Gas has a 1-year low of $48.06 and a 1-year high of $73.60.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings data on Wednesday, January 29th. The oil and gas producer reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.22. National Fuel Gas had a negative net margin of 0.53% and a positive return on equity of 15.96%. During the same quarter last year, the business earned $1.46 earnings per share. On average, equities analysts forecast that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Tuesday, December 31st. National Fuel Gas’s payout ratio is -1,471.32%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com upgraded shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Bank of America assumed coverage on shares of 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 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. Finally, Argus upgraded shares of National Fuel Gas to a “strong-buy” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.00.

Insider Activity at National Fuel Gas

In related news, insider Justin I. Loweth sold 19,532 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $62.27, for a total value of $1,216,257.64. Following the completion of the sale, the insider now owns 41,841 shares of the company’s stock, valued at $2,605,439.07. This trade represents a 31.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donna L. Decarolis sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 81,519 shares of the company’s stock, valued at approximately $5,101,459.02. This represents a 10.93 % decrease in their position. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company 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.