National Fuel Gas (NYSE:NFG) Hits New 52-Week High – Here’s What Happened

National Fuel Gas (NYSE:NFG) shares reached a new 52-week high on Tuesday . The stock traded as high as $68.57 and last traded at $69.04, with a volume of 613687 shares changing hands. The stock had previously closed at $67.89.

Analyst Upgrades and Downgrades

Several analysts have commented on NFG shares. Bank of America began coverage on shares of National Fuel Gas in a research report on Monday, October 28th. They issued an “underperform” rating and a $62.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on shares of National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. Argus raised National Fuel Gas to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, StockNews.com upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.00.

National Fuel Gas Trading Up 1.1 %

The firm has a 50-day simple moving average of $62.18 and a 200-day simple moving average of $60.40. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.77. The stock has a market cap of $6.27 billion, a PE ratio of 84.91, a P/E/G ratio of 1.01 and a beta of 0.64.

National Fuel Gas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Tuesday, December 31st. National Fuel Gas’s payout ratio is presently 254.32%.

Insiders Place Their Bets

In related news, insider Justin I. Loweth sold 19,532 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $62.27, for a total value of $1,216,257.64. Following the sale, the insider now directly owns 41,841 shares of the company’s stock, valued at $2,605,439.07. This trade represents a 31.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Donna L. Decarolis sold 10,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $62.58, for a total transaction of $625,800.00. Following the completion of the transaction, the insider now directly owns 81,519 shares in the company, valued at $5,101,459.02. The trade was a 10.93 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in National Fuel Gas by 44.2% during the third quarter. Victory Capital Management Inc. now owns 2,498,205 shares of the oil and gas producer’s stock worth $151,416,000 after purchasing an additional 765,236 shares during the last quarter. AQR Capital Management LLC lifted its position in National Fuel Gas by 159.5% in the 2nd quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock worth $47,711,000 after buying an additional 541,176 shares during the last quarter. Mackenzie Financial Corp boosted its stake in National Fuel Gas by 262.5% in the second quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock worth $17,237,000 after buying an additional 230,332 shares in the last quarter. Dimensional Fund Advisors LP grew its position in National Fuel Gas by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 930,775 shares of the oil and gas producer’s stock valued at $50,441,000 after acquiring an additional 93,780 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of National Fuel Gas by 243.7% in the 3rd quarter. Barclays PLC now owns 102,672 shares of the oil and gas producer’s stock worth $6,223,000 after acquiring an additional 72,802 shares during the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

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.