National Fuel Gas (NYSE:NFG) Reaches New 12-Month High After Strong Earnings

National Fuel Gas (NYSE:NFG) shares hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $72.33 and last traded at $72.64, with a volume of 184304 shares changing hands. The stock had previously closed at $68.46.

The oil and gas producer reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. National Fuel Gas had a net margin of 3.99% and a return on equity of 14.88%. During the same period in the prior year, the business posted $1.46 earnings per share.

National Fuel Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Tuesday, December 31st. National Fuel Gas’s dividend payout ratio is currently 254.32%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other National Fuel Gas news, insider Justin I. Loweth sold 19,532 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the completion of the sale, the insider now owns 41,841 shares in the company, valued at $2,605,439.07. This represents a 31.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donna L. Decarolis sold 10,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $62.58, for a total value of $625,800.00. Following the completion of the transaction, the insider now directly owns 81,519 shares of the company’s stock, valued at approximately $5,101,459.02. The trade was a 10.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.55% of the company’s stock.

Institutional Trading of National Fuel Gas

A number of institutional investors have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in National Fuel Gas by 3.0% during the 2nd quarter. Bank of Montreal Can now owns 11,152 shares of the oil and gas producer’s stock valued at $617,000 after purchasing an additional 322 shares in the last quarter. Creative Planning increased its position in shares of National Fuel Gas by 4.0% in the 2nd quarter. Creative Planning now owns 31,917 shares of the oil and gas producer’s stock valued at $1,730,000 after acquiring an additional 1,228 shares during the period. New Wave Wealth Advisors LLC purchased a new position in National Fuel Gas in the 2nd quarter worth $227,000. Sanctuary Advisors LLC acquired a new position in National Fuel Gas in the second quarter valued at approximately $992,000. Finally, SG Americas Securities LLC boosted its holdings in National Fuel Gas by 225.7% during the third quarter. SG Americas Securities LLC now owns 13,303 shares of the oil and gas producer’s stock worth $806,000 after buying an additional 9,219 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

National Fuel Gas Stock Up 5.6 %

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 business has a 50-day simple moving average of $63.22 and a 200-day simple moving average of $61.03. The company has a market cap of $6.57 billion, a PE ratio of 89.22, a P/E/G ratio of 1.02 and a beta of 0.64.

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.