National Fuel Gas (NYSE:NFG – Get Free Report)’s stock price reached a new 52-week high on Monday after the company announced a dividend. The company traded as high as $60.85 and last traded at $60.47, with a volume of 15468 shares trading hands. The stock had previously closed at $60.25.
The newly announced dividend which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Monday, September 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.39%. National Fuel Gas’s dividend payout ratio is currently 40.87%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on NFG shares. JPMorgan Chase & Co. cut their price objective on National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Scotiabank increased 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 report on Tuesday, August 20th. Finally, StockNews.com lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Monday, August 5th.
National Fuel Gas Stock Down 0.2 %
The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.65 and a current ratio of 0.77. The business has a 50 day simple moving average of $58.51 and a 200-day simple moving average of $55.63. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 12.07 and a beta of 0.62.
National Fuel Gas (NYSE:NFG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The business had revenue of $417.40 million during the quarter, compared to analysts’ expectations of $540.62 million. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. On average, equities analysts expect that National Fuel Gas will post 5.13 EPS for the current year.
Insider Buying and Selling
In other news, General Counsel Michael W. Reville sold 6,357 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $54.83, for a total value of $348,554.31. Following the transaction, the general counsel now owns 9,903 shares of the company’s stock, valued at approximately $542,981.49. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.55% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On National Fuel Gas
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in National Fuel Gas in the 2nd quarter valued at approximately $992,000. New Wave Wealth Advisors LLC acquired a new stake in shares of National Fuel Gas in the second quarter valued at $227,000. Chase Investment Counsel Corp raised its holdings in shares of National Fuel Gas by 8.9% in the 2nd quarter. Chase Investment Counsel Corp now owns 7,496 shares of the oil and gas producer’s stock valued at $406,000 after buying an additional 612 shares during the period. Creative Planning lifted its stake in National Fuel Gas by 4.0% during the 2nd quarter. Creative Planning now owns 31,917 shares of the oil and gas producer’s stock worth $1,730,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in National Fuel Gas by 19.1% during the 2nd quarter. Algert Global LLC now owns 79,584 shares of the oil and gas producer’s stock valued at $4,313,000 after acquiring an additional 12,744 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.
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.
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