National Fuel Gas Company (NYSE:NFG – Get Free Report) announced a quarterly dividend on Thursday, September 17th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.555 per share by the oil and gas producer on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, September 30th.
National Fuel Gas has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 55 years. National Fuel Gas has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect National Fuel Gas to earn $7.65 per share next year, which means the company should continue to be able to cover its $2.22 annual dividend with an expected future payout ratio of 29.0%.
National Fuel Gas Stock Down 0.6%
NFG opened at $79.90 on Friday. National Fuel Gas has a fifty-two week low of $75.17 and a fifty-two week high of $97.06. The firm has a market capitalization of $7.59 billion, a P/E ratio of 11.10, a PEG ratio of 1.79 and a beta of 0.37. The company’s 50-day moving average is $81.92 and its 200 day moving average is $83.98. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.20 and a quick ratio of 3.07.
Hedge Funds Weigh In On National Fuel Gas
Several institutional investors have recently bought and sold shares of NFG. BlackRock Inc. purchased a new position in shares of National Fuel Gas during the 2nd quarter valued at $748,569,000. Energy Income Partners LLC increased its holdings in National Fuel Gas by 1.1% in the 1st quarter. Energy Income Partners LLC now owns 2,589,824 shares of the oil and gas producer’s stock worth $243,340,000 after acquiring an additional 28,755 shares during the last quarter. Geode Capital Management LLC raised its stake in National Fuel Gas by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 1,816,217 shares of the oil and gas producer’s stock valued at $145,446,000 after acquiring an additional 121,099 shares during the period. Dimensional Fund Advisors LP raised its stake in National Fuel Gas by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,177,958 shares of the oil and gas producer’s stock valued at $110,686,000 after acquiring an additional 42,108 shares during the period. Finally, First Trust Advisors LP lifted its holdings in National Fuel Gas by 35.7% during the first quarter. First Trust Advisors LP now owns 1,072,487 shares of the oil and gas producer’s stock valued at $100,771,000 after purchasing an additional 282,071 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.
National Fuel Gas Company Profile
National Fuel Gas Company (NYSE:NFG) is a diversified energy company with operations spanning natural gas exploration and production, pipeline transportation and storage, and utility distribution. Through its subsidiaries, the company develops, produces, gathers, stores and transports natural gas, primarily serving markets in the northeastern United States.
National Fuel’s exploration and production business is operated through Seneca Resources Company, which focuses on developing natural gas reserves in the Appalachian region, including the Marcellus and Utica shale formations.
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