National Fuel Gas (NYSE:NFG) Announces $0.52 Quarterly Dividend

National Fuel Gas (NYSE:NFG) declared a quarterly dividend on Friday, December 6th,RTT News reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.515 per share by the oil and gas producer on Wednesday, January 15th. This represents a $2.06 dividend on an annualized basis and a yield of 3.38%.

National Fuel Gas has raised its dividend by an average of 3.5% per year over the last three years and has increased its dividend every year for the last 55 years. National Fuel Gas has a dividend payout ratio of 33.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect National Fuel Gas to earn $6.53 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 31.5%.

National Fuel Gas Price Performance

NFG stock traded down $1.26 during mid-day trading on Friday, hitting $60.92. The company had a trading volume of 106,506 shares, compared to its average volume of 516,593. The company has a 50-day moving average price of $61.51 and a 200 day moving average price of $58.86. 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 company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 76.75 and a beta of 0.63. National Fuel Gas has a 12-month low of $45.32 and a 12-month high of $65.06.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Argus upgraded shares of National Fuel Gas to a “strong-buy” rating in a research note on Tuesday, November 19th. Bank of America began coverage on shares of National Fuel Gas in a research note on Monday, October 28th. They set an “underperform” rating and a $62.00 target price for the company. StockNews.com lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday, November 30th. JPMorgan Chase & Co. decreased their target price 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. Finally, Scotiabank upped their price objective on shares of National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $69.00.

Insider Transactions at National Fuel Gas

In related news, General Counsel Michael W. Reville sold 1,700 shares of National Fuel Gas stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total value of $103,309.00. Following the completion of the sale, the general counsel now owns 8,203 shares in the company, valued at approximately $498,496.31. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Justin I. Loweth sold 19,532 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the sale, the insider now owns 41,841 shares of the company’s stock, valued at approximately $2,605,439.07. The trade was a 31.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.55% of the company’s stock.

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.