National Fuel Gas Company (NYSE:NFG) to Issue Quarterly Dividend of $0.56

Key Points

• National Fuel Gas declared a quarterly dividend of $0.555 per share, payable October 15 to shareholders of record September 30. The dividend implies an annualized payout of approximately $2.22 per share and a 2.8% yield.
• The company has raised its dividend for 55 consecutive years, with a current payout ratio of 26.2%, suggesting the distribution remains well covered by earnings.
• National Fuel Gas recently reported quarterly EPS of $1.54, beating analyst expectations of $1.44, while institutional investors own approximately 74% of the stock.

National Fuel Gas Company (NYSE:NFG - Get Free Report) declared a quarterly dividend on Thursday, September 17th. Investors of record on Wednesday, September 30th will be paid a dividend of 0.555 per share by the oil and gas producer on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, September 30th.

National Fuel Gas has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 55 years. National Fuel Gas has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect National Fuel Gas to earn $7.65 per share next year, which means the company should continue to be able to cover its $2.22 annual dividend with an expected future payout ratio of 29.0%.

National Fuel Gas Price Performance

NYSE NFG opened at $79.90 on Friday. The business's fifty day moving average is $81.92 and its 200 day moving average is $83.98. National Fuel Gas has a fifty-two week low of $75.17 and a fifty-two week high of $97.06. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.07 and a current ratio of 3.20. The company has a market capitalization of $7.59 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.79 and a beta of 0.37.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.54 EPS for the quarter, topping the consensus estimate of $1.44 by $0.10. The firm had revenue of $537.50 million for the quarter, compared to the consensus estimate of $564.33 million. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. Sell-side analysts predict that National Fuel Gas will post 7.49 earnings per share for the current year.

Hedge Funds Weigh In On National Fuel Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of National Fuel Gas during the second quarter valued at $748,569,000. Energy Income Partners LLC purchased a new stake in National Fuel Gas during the second quarter valued at approximately $231,309,000. Geode Capital Management LLC lifted its position in National Fuel Gas by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 1,816,217 shares of the oil and gas producer's stock valued at $145,446,000 after acquiring an additional 121,099 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of National Fuel Gas by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,177,958 shares of the oil and gas producer's stock worth $110,686,000 after purchasing an additional 42,108 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of National Fuel Gas during the 4th quarter valued at $92,415,000. 73.96% of the stock is owned by institutional investors.

About National Fuel Gas

National Fuel Gas Company NYSE: NFG is a diversified energy company with operations spanning natural gas exploration and production, pipeline transportation and storage, and utility distribution. Through its subsidiaries, the company develops, produces, gathers, stores and transports natural gas, primarily serving markets in the northeastern United States.

National Fuel's exploration and production business is operated through Seneca Resources Company, which focuses on developing natural gas reserves in the Appalachian region, including the Marcellus and Utica shale formations.

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