National Fuel Gas (NYSE:NFG) Reaches New 12-Month High - Here's Why

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on NFG shares. Wall Street Zen lowered shares of National Fuel Gas from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. JPMorgan Chase & Co. boosted their target price on shares of National Fuel Gas from $77.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, March 13th. Finally, Bank of America boosted their target price on shares of National Fuel Gas from $77.00 to $85.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $82.33.

National Fuel Gas Price Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 0.47 and a quick ratio of 0.43. The stock's 50 day simple moving average is $81.81 and its two-hundred day simple moving average is $74.48. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 197.76, a P/E/G ratio of 0.54 and a beta of 0.62.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share for the quarter, topping 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 firm had revenue of $729.95 million for the quarter, compared to the consensus estimate of $770.81 million. During the same quarter in the previous year, the company earned $1.79 earnings per share. The business's revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that National Fuel Gas Company will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.14 dividend on an annualized basis and a yield of 2.52%. This is an increase from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's payout ratio is currently 479.07%.

Institutional Investors Weigh In On National Fuel Gas

Institutional investors have recently bought and sold shares of the business. Assetmark Inc. boosted its stake in shares of National Fuel Gas by 9,475.0% in the 1st quarter. Assetmark Inc. now owns 383 shares of the oil and gas producer's stock valued at $30,000 after purchasing an additional 379 shares in the last quarter. Quarry LP bought a new stake in shares of National Fuel Gas in the 4th quarter worth about $32,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of National Fuel Gas by 316.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 400 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 304 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of National Fuel Gas in the 4th quarter worth about $36,000. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of National Fuel Gas by 223.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 656 shares of the oil and gas producer's stock worth $40,000 after purchasing an additional 453 shares during 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.