National Fuel Gas Company (NYSE:NFG) Declares Dividend Increase – $0.56 Per Share

National Fuel Gas Company (NYSE:NFG) declared a quarterly dividend on Thursday, June 11th. Investors of record on Tuesday, June 30th will be given a dividend of 0.555 per share by the oil and gas producer on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, June 30th. This is a 3.7% increase from National Fuel Gas’s previous quarterly dividend of $0.54.

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 25.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect National Fuel Gas to earn $7.96 per share next year, which means the company should continue to be able to cover its $2.14 annual dividend with an expected future payout ratio of 26.9%.

National Fuel Gas Trading Down 0.3%

NFG opened at $76.87 on Friday. The firm has a market cap of $7.31 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.70 and a beta of 0.37. National Fuel Gas has a 12 month low of $75.85 and a 12 month high of $97.06. The company has a current ratio of 0.62, a quick ratio of 0.55 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average of $84.38 and a 200 day moving average of $85.07.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings results on Thursday, April 30th. The oil and gas producer reported $2.71 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.14). The company had revenue of $858.37 million during the quarter, compared to analysts’ expectations of $856.57 million. National Fuel Gas had a return on equity of 20.62% and a net margin of 27.48%.The company’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.39 EPS. As a group, research analysts forecast that National Fuel Gas will post 7.58 EPS for the current year.

Analyst Ratings Changes

NFG has been the subject of several recent research reports. KeyCorp initiated coverage on National Fuel Gas in a research report on Tuesday, April 7th. They issued an “overweight” rating and a $110.00 price target for the company. Weiss Ratings lowered National Fuel Gas from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. Finally, Zacks Research upgraded National Fuel Gas from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

National Fuel Gas Company Profile

National Fuel Gas Company (NYSE: NFG) is a diversified energy company engaged primarily in the production, gathering, transmission, distribution and marketing of natural gas. The company operates through four principal segments: Exploration & Production, Pipeline & Storage, Utilities, and Energy Marketing. Its integrated asset base spans upstream development in the Appalachian Basin, regional pipeline networks, underground storage facilities, and regulated utility distribution systems.

In its Exploration & Production segment, National Fuel Gas focuses on developing natural gas reserves in the Marcellus and Utica shales, leveraging modern drilling and completion techniques.