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 in California and in the Appalachian region of the United States. As of September 30, 2021, it had proved developed and undeveloped reserves of 21,537 thousand barrels of oil and 3,723,433 million cubic feet of natural gas. The Pipeline and Storage segment provides interstate natural gas transportation and storage services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields. This segment also transports natural gas for National Fuel Gas Distribution Corporation, as well as for other utilities, industrial companies, and power producers in New York State; and owns and operates the Empire Pipeline. The Gathering segment builds, owns, and operates natural gas processing and pipeline gathering facilities in the Appalachian region, as well as provides gathering services to Seneca Resources Company, LLC. The Utility segment sells natural gas or provides natural gas transportation services to approximately 753,000 customers in Buffalo, Niagara Falls, and Jamestown, New York; and Erie and Sharon, Pennsylvania. The company markets gas to industrial, wholesale, commercial, public authority, and residential customers primarily in western and central New York, and northwestern Pennsylvania. As of September 30, 2021, the company also owned approximately 95,000 acres of timber property; and managed approximately 2,500 additional acres of timber cutting rights. National Fuel Gas Company was incorporated in 1902 and is headquartered in Williamsville, New York.
National Fuel Gas Stock Up 1.7 %
NFG traded up $1.21 on Thursday, hitting $73.13. The company had a trading volume of 13,312 shares, compared to its average volume of 579,529. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.53 and a quick ratio of 0.51. National Fuel Gas has a 52-week low of $50.05 and a 52-week high of $75.97. The stock has a fifty day simple moving average of $68.16 and a 200-day simple moving average of $67.73. The firm has a market capitalization of $6.69 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.91 and a beta of 0.68.
National Fuel Gas Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.475 per share. This is an increase from National Fuel Gas's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.60%. National Fuel Gas's dividend payout ratio (DPR) is currently 35.32%.
Analyst Upgrades and Downgrades
NFG has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their target price on shares of National Fuel Gas from $68.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, July 5th. Raymond James increased their target price on shares of National Fuel Gas from $76.00 to $86.00 in a report on Friday, June 10th. Finally, Scotiabank reiterated an "assumes" rating on shares of National Fuel Gas in a report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $70.67.
Insider Buying and Selling at National Fuel Gas
In other National Fuel Gas news, COO Ronald C. Kraemer sold 1,390 shares of the firm's stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $70.00, for a total transaction of $97,300.00. Following the completion of the transaction, the chief operating officer now owns 45,995 shares of the company's stock, valued at $3,219,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.73% of the company's stock.