National Fuel Gas (NYSE:NFG) Hits New 1-Year High - Here's Why

National Fuel Gas Company (NYSE:NFG - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $86.45 and last traded at $86.00, with a volume of 1026188 shares trading hands. The stock had previously closed at $85.69.

Analysts Set New Price Targets

Several brokerages have issued reports on NFG. Bank of America increased their price objective on shares of National Fuel Gas from $77.00 to $85.00 and gave the company an "underperform" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. upped their price objective on shares of National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a research report on Thursday, March 13th. Finally, Wall Street Zen cut National Fuel Gas from a "buy" rating to a "hold" rating in a research note on Sunday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $82.33.

National Fuel Gas Trading Down 0.6%

The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 198.86, a price-to-earnings-growth ratio of 0.55 and a beta of 0.62. The business's 50 day moving average price is $81.34 and its 200-day moving average price is $74.02. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.43 and a current ratio of 0.47.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.18 by $0.21. National Fuel Gas had a net margin of 1.91% and a return on equity of 18.55%. The business had revenue of $729.95 million during the quarter, compared to the consensus estimate of $770.81 million. During the same quarter in the prior year, the firm earned $1.79 EPS. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts expect that National Fuel Gas Company will post 6.64 EPS for the current year.

National Fuel Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 2.50%. This is a positive change from National Fuel Gas's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, June 30th. National Fuel Gas's dividend payout ratio is 497.67%.

Hedge Funds Weigh In On National Fuel Gas

Several large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its holdings in shares of National Fuel Gas by 3.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,584,155 shares of the oil and gas producer's stock valued at $156,807,000 after acquiring an additional 85,950 shares in the last quarter. Geode Capital Management LLC increased its position in shares of National Fuel Gas by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 2,199,787 shares of the oil and gas producer's stock valued at $146,502,000 after purchasing an additional 117,351 shares during the period. LSV Asset Management raised its stake in shares of National Fuel Gas by 29.6% in the 1st quarter. LSV Asset Management now owns 2,153,236 shares of the oil and gas producer's stock worth $170,515,000 after buying an additional 491,890 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of National Fuel Gas by 3.3% in the first quarter. Gamco Investors INC. ET AL now owns 1,495,867 shares of the oil and gas producer's stock valued at $118,458,000 after buying an additional 48,202 shares during the period. Finally, Northern Trust Corp boosted its stake in National Fuel Gas by 15.3% during the first quarter. Northern Trust Corp now owns 1,174,783 shares of the oil and gas producer's stock valued at $93,031,000 after buying an additional 155,711 shares in the last quarter. 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.