National Fuel Gas (NYSE:NFG) Reaches New 52-Week High – Here’s Why

Shares of National Fuel Gas (NYSE:NFG) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $83.47 and last traded at $83.00, with a volume of 68222 shares trading hands. The stock had previously closed at $82.54.

Analyst Ratings Changes

Several research firms have recently weighed in on NFG. JPMorgan Chase & Co. increased their price objective 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. Wall Street Zen raised shares of National Fuel Gas from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Bank of America boosted their price target on shares of National Fuel Gas from $77.00 to $85.00 and gave the stock an “underperform” rating in a report 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 stock. Based on data from MarketBeat, National Fuel Gas currently has an average rating of “Moderate Buy” and a consensus target price of $82.33.

National Fuel Gas Stock Up 0.4%

The stock’s fifty day moving average is $79.06 and its 200 day moving average is $71.68. 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 company has a market capitalization of $7.49 billion, a P/E ratio of -591.92 and a beta of 0.61.

National Fuel Gas (NYSE:NFG) last released its earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.21. National Fuel Gas had a negative net margin of 0.53% and a positive return on equity of 15.96%. The firm had revenue of $729.95 million for the quarter, compared to the consensus estimate of $770.81 million. During the same period in the prior year, the firm earned $1.79 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. Research analysts predict that National Fuel Gas will post 6.64 EPS for the current fiscal year.

National Fuel Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.515 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.06 dividend on an annualized basis and a yield of 2.49%. National Fuel Gas’s dividend payout ratio is currently 479.07%.

Institutional Investors Weigh In On National Fuel Gas

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

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.