National Fuel Gas (NYSE:NFG) Increases Dividend to $0.54 Per Share

National Fuel Gas (NYSE:NFG) declared a quarterly dividend on Thursday, June 12th, RTT News reports. Investors of record on Monday, June 30th will be paid 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%. This is a 3.9% increase from National Fuel Gas’s previous quarterly dividend of $0.52.

National Fuel Gas has a payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of NFG stock opened at $83.53 on Friday. The stock has a market cap of $7.55 billion, a P/E ratio of -596.57 and a beta of 0.62. The company has a fifty day moving average price of $79.91 and a two-hundred day moving average price of $72.79. National Fuel Gas has a one year low of $53.03 and a one year high of $84.60. 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) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.21. The business had revenue of $729.95 million during the quarter, compared to analysts’ expectations of $770.81 million. National Fuel Gas had a positive return on equity of 15.96% and a negative net margin of 0.53%. National Fuel Gas’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $1.79 earnings per share. As a group, equities analysts predict that National Fuel Gas will post 6.64 EPS for the current year.

Institutional Trading of National Fuel Gas

A number of large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings 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 worth $12,667,000 after buying an additional 36,913 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 last quarter. Focus Partners Wealth increased its stake in shares of National Fuel Gas by 79.5% during the first quarter. Focus Partners Wealth now owns 12,729 shares of the oil and gas producer’s stock valued at $1,008,000 after buying an additional 5,638 shares during the period. Empowered Funds LLC bought a new position in National Fuel Gas in the 1st quarter worth $247,000. Finally, Acadian Asset Management LLC bought a new position in National Fuel Gas in the first quarter worth about $138,000. Institutional investors own 73.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NFG. JPMorgan Chase & Co. lifted their target price on shares of National Fuel Gas from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, March 13th. Bank of America lifted their price target on National Fuel Gas from $77.00 to $85.00 and gave the stock an “underperform” rating in a report on Friday, May 23rd. Finally, Wall Street Zen raised National Fuel Gas from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, one has given 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.33.

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.