National Fuel Gas (NYSE:NFG) Sets New 52-Week High After Dividend Announcement

National Fuel Gas (NYSE:NFG) shares hit a new 52-week high on Monday after the company announced a dividend. The stock 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. Shareholders of record on Monday, September 30th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.06 annualized dividend and a yield of 3.39%. National Fuel Gas’s dividend payout ratio (DPR) is presently 40.87%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. StockNews.com cut National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. cut their price objective on shares of National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Scotiabank increased 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 research report on Tuesday, August 20th.

National Fuel Gas Price Performance

The stock has a 50 day moving average of $58.51 and a 200-day moving average of $55.63. 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 company has a market cap of $5.59 billion, a PE ratio of 12.07 and a beta of 0.62.

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 the consensus estimate of $0.96 by $0.03. National Fuel Gas had a return on equity of 14.80% and a net margin of 16.42%. The firm had revenue of $417.40 million during the quarter, compared to analysts’ expectations of $540.62 million. During the same period last year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts predict that National Fuel Gas will post 5.13 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Michael W. Reville sold 6,357 shares of National Fuel Gas stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $54.83, for a total transaction of $348,554.31. Following the completion of the transaction, the general counsel now directly owns 9,903 shares in the company, valued at $542,981.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On National Fuel Gas

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of National Fuel Gas in the fourth quarter worth about $49,804,000. Victory Capital Management Inc. raised its holdings in National Fuel Gas by 46.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,732,969 shares of the oil and gas producer’s stock worth $93,910,000 after purchasing an additional 550,153 shares during the period. AQR Capital Management LLC boosted its position in National Fuel Gas by 159.5% during the second quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock worth $47,711,000 after purchasing an additional 541,176 shares in the last quarter. Equity Investment Corp grew its holdings in National Fuel Gas by 27.7% in the first quarter. Equity Investment Corp now owns 1,242,186 shares of the oil and gas producer’s stock valued at $66,730,000 after purchasing an additional 269,441 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of National Fuel Gas by 194.3% in 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 buying an additional 249,967 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

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.