Valley Wealth Managers Inc. Has $19.76 Million Position in National Fuel Gas (NYSE:NFG)

Valley Wealth Managers Inc. grew its holdings in National Fuel Gas (NYSE:NFG) by 8.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 325,966 shares of the oil and gas producer’s stock after acquiring an additional 24,564 shares during the quarter. National Fuel Gas comprises about 1.5% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 29th biggest position. Valley Wealth Managers Inc.’s holdings in National Fuel Gas were worth $19,757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of National Fuel Gas by 0.8% in the first quarter. Vanguard Group Inc. now owns 13,313,064 shares of the oil and gas producer’s stock valued at $715,178,000 after purchasing an additional 104,587 shares during the last quarter. Energy Income Partners LLC grew its position in shares of National Fuel Gas by 2.4% in the first quarter. Energy Income Partners LLC now owns 2,595,437 shares of the oil and gas producer’s stock valued at $139,427,000 after purchasing an additional 62,009 shares during the last quarter. Gabelli Funds LLC grew its position in shares of National Fuel Gas by 1.0% in the second quarter. Gabelli Funds LLC now owns 2,533,482 shares of the oil and gas producer’s stock valued at $137,289,000 after purchasing an additional 24,800 shares during the last quarter. Victory Capital Management Inc. lifted its stake 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 period. Finally, Gamco Investors INC. ET AL lifted its stake in shares of National Fuel Gas by 7.9% in the first quarter. Gamco Investors INC. ET AL now owns 1,320,850 shares of the oil and gas producer’s stock valued at $70,956,000 after buying an additional 96,410 shares during the period. 73.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Michael W. Reville sold 1,700 shares of the business’s stock in a transaction 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 completion of the transaction, the general counsel now owns 8,203 shares of the company’s stock, valued at $498,496.31. The trade was a 17.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NFG shares. 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. Scotiabank lifted their target price on shares of National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. StockNews.com cut shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Finally, Bank of America started coverage on shares of National Fuel Gas in a research note on Monday, October 28th. They issued an “underperform” rating and a $62.00 target price for the company.

National Fuel Gas Price Performance

Shares of National Fuel Gas stock traded up $0.58 during midday trading on Friday, reaching $61.01. The company had a trading volume of 13,361 shares, compared to its average volume of 520,955. 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 company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 74.59 and a beta of 0.62. The stock has a fifty day simple moving average of $60.70 and a 200 day simple moving average of $58.09. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $63.54.

National Fuel Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Monday, September 30th. National Fuel Gas’s dividend payout ratio is presently 254.32%.

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.