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

National Fuel Gas (NYSE:NFG)’s share price reached a new 52-week high during mid-day trading on Friday after the company announced a dividend. The stock 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. Stockholders of record on Monday, March 31st will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Monday, March 31st. National Fuel Gas’s dividend payout ratio (DPR) is presently -1,471.43%.

Analysts Set New Price Targets

NFG has been the topic of several recent research reports. Argus upgraded shares of National Fuel Gas to a “strong-buy” rating in a research report on Tuesday, November 19th. StockNews.com raised National Fuel Gas from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lifted their target price on National Fuel Gas from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, National Fuel Gas has an average rating of “Hold” and a consensus price target of $74.67.

National Fuel Gas Price Performance

The firm has a market cap of $6.93 billion, a PE ratio of -546.32 and a beta of 0.57. The firm’s fifty day simple moving average is $70.33 and its two-hundred day simple moving average is $64.19. The company has a quick ratio of 0.33, a current ratio of 0.39 and a debt-to-equity ratio of 0.80.

National Fuel Gas (NYSE:NFG) last released its earnings results on Wednesday, January 29th. The oil and gas producer reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. National Fuel Gas had a negative net margin of 0.53% and a positive return on equity of 15.96%. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, research analysts expect that National Fuel Gas will post 6.64 EPS for the current year.

Hedge Funds Weigh In On National Fuel Gas

A number of hedge funds have recently made changes to their positions in NFG. Kentucky Trust Co purchased a new position in National Fuel Gas in the 4th quarter worth approximately $25,000. UMB Bank n.a. raised its position in shares of National Fuel Gas by 82.9% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 218 shares during the last quarter. Quarry LP purchased a new position in shares of National Fuel Gas in the fourth quarter worth $32,000. Venturi Wealth Management LLC bought a new position in shares of National Fuel Gas during the third quarter worth $35,000. Finally, Ameriflex Group Inc. bought a new position in shares of National Fuel Gas during the fourth quarter worth $36,000. Institutional investors own 73.96% of the company’s stock.

About National Fuel Gas

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.