National Fuel Gas (NYSE:NFG) to Issue Quarterly Dividend of $0.54

National Fuel Gas (NYSE:NFG) announced 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 annualized dividend 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. Research 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 Price Performance

NYSE NFG opened at $83.53 on Friday. The business’s fifty day moving average is $79.91 and its 200 day moving average is $72.79. The company has a market capitalization of $7.55 billion, a PE ratio of -596.57 and a beta of 0.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.33 and a current ratio of 0.39. National Fuel Gas has a fifty-two week low of $53.03 and a fifty-two week high of $84.60.

National Fuel Gas (NYSE:NFG) last issued 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 during the quarter, compared to analyst estimates of $770.81 million. During the same quarter in the prior year, the business earned $1.79 earnings per share. National Fuel Gas’s revenue for the quarter was up 15.9% on a year-over-year basis. Sell-side analysts predict that National Fuel Gas will post 6.64 earnings per share for the current year.

Institutional Investors Weigh In On National Fuel Gas

A number of hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in National Fuel Gas by 30.0% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of National Fuel Gas by 3.9% in 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 worth $17,480,000 after acquiring an additional 8,304 shares during the last quarter. Focus Partners Wealth boosted its position 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 worth $1,008,000 after buying an additional 5,638 shares during the period. Empowered Funds LLC purchased a new stake in National Fuel Gas during the first quarter worth about $247,000. Finally, Acadian Asset Management LLC acquired a new stake in National Fuel Gas during the 1st quarter worth approximately $138,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America increased 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. JPMorgan Chase & Co. lifted their price objective on National Fuel Gas from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, March 13th. Finally, Wall Street Zen upgraded shares of National Fuel Gas from a “hold” rating to a “buy” rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.33.

About National Fuel Gas

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.