National Fuel Gas (NYSE:NFG) Hits New 12-Month High Following Dividend Announcement

National Fuel Gas (NYSE:NFG) hit a new 52-week high during trading on Friday after the company announced a dividend. The company traded as high as $76.50 and last traded at $76.13, with a volume of 114987 shares. The stock had previously closed at $74.66.

The newly announced dividend which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.69%. National Fuel Gas’s dividend payout ratio (DPR) is -1,471.43%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Argus upgraded National Fuel Gas to a “strong-buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on National Fuel Gas from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, StockNews.com raised National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, National Fuel Gas currently has an average rating of “Hold” and an average target price of $74.67.

National Fuel Gas Stock Performance

The firm has a market capitalization of $6.93 billion, a PE ratio of -546.32 and a beta of 0.57. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80. The business’s 50 day simple moving average is $70.63 and its two-hundred day simple moving average is $64.35.

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

Institutional Investors Weigh In On National Fuel Gas

Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of National Fuel Gas by 3.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,584,155 shares of the oil and gas producer’s stock valued at $156,807,000 after purchasing an additional 85,950 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of National Fuel Gas by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 2,199,787 shares of the oil and gas producer’s stock valued at $146,502,000 after purchasing an additional 117,351 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of National Fuel Gas by 5.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,447,665 shares of the oil and gas producer’s stock valued at $87,844,000 after acquiring an additional 70,332 shares during the last quarter. Norges Bank bought a new position in shares of National Fuel Gas in the 4th quarter valued at about $67,393,000. Finally, Northern Trust Corp lifted its holdings in shares of National Fuel Gas by 37.9% in the 4th quarter. Northern Trust Corp now owns 1,019,072 shares of the oil and gas producer’s stock valued at $61,837,000 after acquiring an additional 279,857 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Company 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.