National Fuel Gas (NYSE:NFG) Announces Dividend Increase - $0.54 Per Share

National Fuel Gas (NYSE:NFG - Get Free Report) announced a quarterly dividend on Thursday, June 12th, RTT News reports. Shareholders of record on Monday, June 30th will be given a dividend of 0.535 per share by the oil and gas producer on Tuesday, July 15th. This represents a $2.14 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Monday, June 30th. This is a 3.9% increase from National Fuel Gas's previous quarterly dividend of $0.52.

National Fuel Gas has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect National Fuel Gas to earn $7.79 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 26.4%.

National Fuel Gas Trading Down 0.5%

Shares of NFG stock traded down $0.46 on Monday, reaching $83.69. The company had a trading volume of 370,232 shares, compared to its average volume of 635,211. The stock has a market cap of $7.56 billion, a PE ratio of -597.74 and a beta of 0.62. The company has a 50-day moving average of $80.13 and a 200-day moving average of $73.06. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80. National Fuel Gas has a 12 month low of $53.03 and a 12 month high of $84.60.

National Fuel Gas (NYSE:NFG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 EPS for the quarter, beating the consensus estimate of $2.18 by $0.21. The firm had revenue of $729.95 million during the quarter, compared to the consensus estimate of $770.81 million. National Fuel Gas had a negative net margin of 0.53% and a positive return on equity of 15.96%. The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.79 earnings per share. On average, equities analysts forecast that National Fuel Gas will post 6.64 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On National Fuel Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in NFG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in National Fuel Gas by 3.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,730 shares of the oil and gas producer's stock valued at $17,480,000 after purchasing an additional 8,304 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of National Fuel Gas by 30.0% in the first quarter. Goldman Sachs Group Inc. now owns 159,953 shares of the oil and gas producer's stock valued at $12,667,000 after buying an additional 36,913 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of National Fuel Gas by 79.5% during the 1st quarter. Focus Partners Wealth now owns 12,729 shares of the oil and gas producer's stock worth $1,008,000 after acquiring an additional 5,638 shares during the period. Empowered Funds LLC acquired a new position in shares of National Fuel Gas during the 1st quarter worth approximately $247,000. Finally, Acadian Asset Management LLC bought a new stake in National Fuel Gas in the 1st quarter valued at $138,000. 73.96% of the stock is owned by institutional investors.

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.