Ontario Teachers Pension Plan Board Sells 71,683 Shares of National Fuel Gas (NYSE:NFG)

Ontario Teachers Pension Plan Board trimmed its stake in National Fuel Gas (NYSE:NFG) by 63.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,939 shares of the oil and gas producer’s stock after selling 71,683 shares during the period. Ontario Teachers Pension Plan Board’s holdings in National Fuel Gas were worth $2,542,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in 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 purchasing an additional 765,236 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of National Fuel Gas by 159.5% during the 2nd quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock worth $47,711,000 after acquiring an additional 541,176 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in National Fuel Gas by 194.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 378,588 shares of the oil and gas producer’s stock valued at $20,516,000 after acquiring an additional 249,967 shares during the last quarter. Mackenzie Financial Corp boosted its stake in National Fuel Gas by 262.5% in the second quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock valued at $17,237,000 after acquiring an additional 230,332 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in National Fuel Gas in the second quarter valued at approximately $10,741,000. 73.96% of the stock is owned by institutional investors.

National Fuel Gas Price Performance

Shares of NFG opened at $62.01 on Wednesday. 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’s fifty day moving average price is $60.83 and its 200-day moving average price is $58.32. National Fuel Gas has a 1-year low of $45.32 and a 1-year high of $63.54. The firm has a market capitalization of $5.67 billion, a PE ratio of 76.56 and a beta of 0.62.

National Fuel Gas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.515 per share. The ex-dividend date was Monday, September 30th. This represents a $2.06 annualized dividend and a yield of 3.32%. National Fuel Gas’s payout ratio is presently 254.32%.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts have recently commented on NFG shares. StockNews.com lowered National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Bank of America began coverage on National Fuel Gas in a research note on Monday, October 28th. They issued an “underperform” rating and a $62.00 price target for the company. JPMorgan Chase & Co. dropped 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. Finally, Scotiabank upped their price objective 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.

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.