National Fuel Gas to Issue Quarterly Dividend of $0.52 (NYSE:NFG)

National Fuel Gas (NYSE:NFG) declared a quarterly dividend on Friday, September 13th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.515 per share by the oil and gas producer on Tuesday, October 15th. This represents a $2.06 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, September 30th.

National Fuel Gas has increased its dividend by an average of 3.5% annually over the last three years and has raised its dividend every year for the last 55 years. National Fuel Gas has a payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect National Fuel Gas to earn $5.80 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 35.5%.

National Fuel Gas Price Performance

Shares of NFG stock traded up $1.66 during trading hours on Friday, hitting $60.61. 590,517 shares of the company’s stock were exchanged, compared to its average volume of 534,119. The company has a market capitalization of $5.57 billion, a PE ratio of 12.02 and a beta of 0.62. National Fuel Gas has a 12-month low of $45.32 and a 12-month high of $61.56. The business’s 50 day simple moving average is $59.22 and its 200-day simple moving average is $56.18. The company has a current ratio of 0.77, a quick ratio of 0.65 and a debt-to-equity ratio of 0.85.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $417.40 million for the quarter, compared to the consensus estimate of $540.62 million. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. On average, equities research analysts anticipate that National Fuel Gas will post 5.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on NFG shares. StockNews.com downgraded shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Scotiabank lifted their target price on shares of National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th.

Insider Buying and Selling

In related news, General Counsel Michael W. Reville sold 1,700 shares of National Fuel Gas stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total value of $103,309.00. Following the transaction, the general counsel now directly owns 8,203 shares of the company’s stock, valued at $498,496.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.55% of the stock is owned by insiders.

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.