National Fuel Gas (NYSE:NFG) Sets New 12-Month High After Dividend Announcement

National Fuel Gas (NYSE:NFG - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday following a dividend announcement from the company. The company traded as high as $84.60 and last traded at $83.90, with a volume of 395405 shares trading hands. The stock had previously closed at $82.02.

The newly announced dividend which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 2.54%. This is a boost 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 (DPR) is presently 479.07%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of National Fuel Gas from $77.00 to $81.00 and gave the stock a "neutral" rating in a report on Thursday, March 13th. Wall Street Zen raised shares of National Fuel Gas from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Bank of America raised their price objective on shares of National Fuel Gas from $77.00 to $85.00 and gave the stock an "underperform" rating in a research note 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 company's stock. According to MarketBeat.com, National Fuel Gas currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.33.

National Fuel Gas Stock Down 0.1%

The firm has a market cap of $7.60 billion, a P/E ratio of -600.74 and a beta of 0.62. The company has a current ratio of 0.39, a quick ratio of 0.33 and a debt-to-equity ratio of 0.80. The business's fifty day moving average price is $80.13 and its two-hundred day moving average price is $73.00.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its earnings results 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. The business had revenue of $729.95 million for the quarter, compared to analysts' expectations 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 firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 earnings per share. As a group, equities research analysts anticipate that National Fuel Gas will post 6.64 EPS for the current year.

Hedge Funds Weigh In On National Fuel Gas

A number of large investors have recently modified their holdings of the stock. Strs Ohio acquired a new position in National Fuel Gas in the first quarter valued at approximately $3,295,000. Acadian Asset Management LLC acquired a new stake in National Fuel Gas in the first quarter worth $138,000. Focus Partners Wealth raised its holdings in National Fuel Gas by 79.5% in the first quarter. Focus Partners Wealth now owns 12,729 shares of the oil and gas producer's stock worth $1,008,000 after purchasing an additional 5,638 shares during the period. Bayforest Capital Ltd raised its holdings in National Fuel Gas by 16,186.7% in the first quarter. Bayforest Capital Ltd now owns 4,886 shares of the oil and gas producer's stock worth $387,000 after purchasing an additional 4,856 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in National Fuel Gas by 3.9% in 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 worth $17,480,000 after purchasing an additional 8,304 shares during the period. 73.96% of the stock is currently owned by institutional investors and hedge funds.

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.