National Fuel Gas (NYSE:NFG) Sets New 1-Year High - Here's What Happened

National Fuel Gas (NYSE:NFG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $83.40 and last traded at $83.14, with a volume of 246242 shares. The stock had previously closed at $82.42.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NFG shares. 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. Wall Street Zen raised shares of National Fuel Gas from a "hold" rating to a "buy" rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of National Fuel Gas from $77.00 to $81.00 and gave the company a "neutral" rating in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, National Fuel Gas presently has an average rating of "Moderate Buy" and a consensus target price of $82.33.

National Fuel Gas Stock Performance

The stock has a market cap of $7.46 billion, a P/E ratio of -589.60 and a beta of 0.61. The company has a fifty day moving average of $79.06 and a 200 day moving average of $71.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.39 and a quick ratio of 0.33.

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

National Fuel Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, March 31st. National Fuel Gas's payout ratio is currently 479.07%.

Institutional Investors Weigh In On National Fuel Gas

Hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group grew its holdings in National Fuel Gas by 4.0% during the 4th quarter. Schroder Investment Management Group now owns 9,122 shares of the oil and gas producer's stock worth $551,000 after acquiring an additional 350 shares during the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of National Fuel Gas in the 4th quarter valued at approximately $238,000. Norges Bank acquired a new stake in shares of National Fuel Gas in the 4th quarter valued at approximately $67,393,000. ING Groep NV acquired a new stake in shares of National Fuel Gas in the 4th quarter valued at approximately $1,086,000. Finally, Proficio Capital Partners LLC acquired a new stake in National Fuel Gas during the 4th quarter worth approximately $862,000. 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.