National Fuel Gas (NYSE:NFG) Hits New 52-Week High on Better-Than-Expected Earnings

National Fuel Gas (NYSE:NFGGet Free Report) hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $72.33 and last traded at $72.64, with a volume of 184304 shares changing hands. The stock had previously closed at $68.46.

The oil and gas producer reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. National Fuel Gas had a net margin of 3.99% and a return on equity of 14.88%. During the same quarter in the previous year, the firm earned $1.46 EPS.

National Fuel Gas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Tuesday, December 31st. National Fuel Gas’s dividend payout ratio is presently -1,471.43%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on 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. Bank of America initiated coverage on shares of National Fuel Gas in a research report on Monday, October 28th. They set an “underperform” rating and a $62.00 target price for the company. Argus raised shares of National Fuel Gas to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, StockNews.com downgraded National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, National Fuel Gas currently has a consensus rating of “Hold” and a consensus price target of $69.00.

Read Our Latest Analysis on National Fuel Gas

Insiders Place Their Bets

In other National Fuel Gas news, insider Donna L. Decarolis sold 10,000 shares of National Fuel Gas stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $62.58, for a total transaction of $625,800.00. Following the completion of the transaction, the insider now owns 81,519 shares of the company’s stock, valued at $5,101,459.02. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Justin I. Loweth sold 19,532 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $62.27, for a total value of $1,216,257.64. Following the transaction, the insider now directly owns 41,841 shares of the company’s stock, valued at $2,605,439.07. The trade was a 31.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.55% of the company’s stock.

Institutional Trading of National Fuel Gas

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in National Fuel Gas by 44.2% during 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 in the last quarter. Ibex Wealth Advisors purchased a new position in shares of National Fuel Gas during the fourth quarter worth approximately $4,943,000. Barclays PLC lifted its stake in National Fuel Gas by 243.7% in the third quarter. Barclays PLC now owns 102,672 shares of the oil and gas producer’s stock worth $6,223,000 after purchasing an additional 72,802 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of National Fuel Gas by 33.3% in the 3rd quarter. Franklin Resources Inc. now owns 220,869 shares of the oil and gas producer’s stock valued at $13,386,000 after acquiring an additional 55,152 shares during the last quarter. Finally, Synergy Asset Management LLC grew its holdings in National Fuel Gas by 86.3% in the 4th quarter. Synergy Asset Management LLC now owns 92,881 shares of the oil and gas producer’s stock worth $5,662,000 after acquiring an additional 43,016 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Trading Up 2.7 %

The company has a market capitalization of $6.37 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 1.02 and a beta of 0.64. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.77. The stock’s fifty day moving average price is $63.36 and its two-hundred day moving average price is $61.10.

About National Fuel Gas

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for National Fuel Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Fuel Gas and related companies with MarketBeat.com's FREE daily email newsletter.