National Fuel Gas (NYSE:NFG) Hits New 1-Year High Following Dividend Announcement

National Fuel Gas (NYSE:NFG)’s share price reached a new 52-week high during trading 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. 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 annualized dividend and a dividend yield of 3.39%. National Fuel Gas’s dividend payout ratio is currently 40.87%.

Analyst Ratings Changes

NFG has been the subject of several research analyst reports. StockNews.com downgraded shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Scotiabank upped their target price on 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, JPMorgan Chase & Co. dropped their price target on National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, September 12th.

National Fuel Gas Stock Performance

The stock has a 50 day simple moving average of $58.51 and a 200 day simple moving average of $55.63. The stock has a market cap of $5.59 billion, a P/E ratio of 12.07 and a beta of 0.62. The company has a current ratio of 0.77, a quick ratio of 0.65 and a debt-to-equity ratio of 0.85.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. The firm had revenue of $417.40 million for the quarter, compared to the consensus estimate of $540.62 million. During the same period in the prior year, the company posted $1.01 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts expect that National Fuel Gas will post 5.13 earnings per share for the current year.

Insider Buying and Selling at National Fuel Gas

In other news, General Counsel Michael W. Reville sold 6,357 shares of the 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 completion of the transaction, the general counsel now directly owns 9,903 shares in the company, valued at approximately $542,981.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On National Fuel Gas

A number of hedge funds have recently modified their holdings of the business. Beacon Capital Management LLC bought a new position in National Fuel Gas during the 1st quarter worth $27,000. Hexagon Capital Partners LLC acquired a new position in shares of National Fuel Gas in the first quarter worth approximately $28,000. Valley National Advisers Inc. acquired a new position in shares of National Fuel Gas in the second quarter worth approximately $37,000. Lindbrook Capital LLC boosted its holdings in National Fuel Gas by 123.0% in the first quarter. Lindbrook Capital LLC now owns 767 shares of the oil and gas producer’s stock valued at $41,000 after acquiring an additional 423 shares during the last quarter. Finally, LifeSteps Financial Inc. acquired a new stake in National Fuel Gas during the 1st quarter valued at approximately $46,000. Institutional investors and hedge funds 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.