National Fuel Gas (NYSE:NFG – Get Rating) declared a quarterly dividend on Friday, September 16th, Zacks reports. Shareholders of record on Friday, September 30th will be given a dividend of 0.475 per share by the oil and gas producer on Friday, October 14th. This represents a $1.90 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, September 29th.
National Fuel Gas has increased its dividend by an average of 2.3% per year over the last three years and has increased its dividend every year for the last 53 years. National Fuel Gas has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect National Fuel Gas to earn $6.84 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 27.8%.
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National Fuel Gas Stock Performance
Shares of NFG stock opened at $68.88 on Friday. The firm has a 50-day moving average of $70.09 and a 200-day moving average of $69.38. The company has a market cap of $6.30 billion, a P/E ratio of 12.80, a P/E/G ratio of 0.88 and a beta of 0.68. 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 one year low of $50.26 and a one year high of $75.97.
Hedge Funds Weigh In On National Fuel Gas
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFG. Raymond James & Associates boosted its position in National Fuel Gas by 0.4% during the first quarter. Raymond James & Associates now owns 47,532 shares of the oil and gas producer's stock worth $3,265,000 after purchasing an additional 170 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in National Fuel Gas by 22.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,127 shares of the oil and gas producer's stock worth $2,001,000 after purchasing an additional 5,424 shares during the period. HighTower Advisors LLC boosted its position in shares of National Fuel Gas by 12.3% in the first quarter. HighTower Advisors LLC now owns 15,176 shares of the oil and gas producer's stock valued at $1,043,000 after acquiring an additional 1,658 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of National Fuel Gas by 10.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,513 shares of the oil and gas producer's stock valued at $2,302,000 after acquiring an additional 3,282 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in shares of National Fuel Gas by 15.2% in the first quarter. Great West Life Assurance Co. Can now owns 54,988 shares of the oil and gas producer's stock valued at $3,885,000 after acquiring an additional 7,259 shares during the period. Institutional investors own 74.44% of the company's stock.
Analysts Set New Price Targets
NFG has been the subject of several analyst reports. 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. The Goldman Sachs Group reduced their price target on shares of National Fuel Gas from $68.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, July 5th. Finally, Scotiabank restated an "assumes" rating on shares of National Fuel Gas in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, National Fuel Gas has a consensus rating of "Hold" and a consensus target price of $70.67.
National Fuel Gas Company Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on National Fuel Gas (NFG)
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