National Fuel Gas Co. (NFG) to Issue Quarterly Dividend of $0.43 on April 15th
National Fuel Gas Co. (NYSE:NFG) announced a quarterly dividend on Friday, March 8th, Wall Street Journal reports. Shareholders of record on Friday, March 29th will be paid a dividend of 0.425 per share by the oil and gas producer on Monday, April 15th. This represents a $1.70 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Thursday, March 28th.
National Fuel Gas has increased its dividend by an average of 2.5% annually over the last three years and has increased its dividend annually for the last 48 consecutive years. National Fuel Gas has a payout ratio of 50.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect National Fuel Gas to earn $3.77 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 45.1%.
Shares of National Fuel Gas stock opened at $61.26 on Wednesday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 6.23 and a beta of 0.88. National Fuel Gas has a 12-month low of $49.60 and a 12-month high of $61.71. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.09 and a current ratio of 1.25.
A number of equities research analysts have issued reports on NFG shares. TheStreet raised shares of National Fuel Gas from a “c+” rating to a “b” rating in a report on Monday, December 10th. Zacks Investment Research cut shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Finally, US Capital Advisors cut shares of National Fuel Gas from an “overweight” rating to a “hold” rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $66.00.
In other news, insider John P. Mcginnis sold 2,357 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $60.14, for a total value of $141,749.98. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $1,202,800. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David F. Smith sold 9,700 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $58.24, for a total transaction of $564,928.00. Following the completion of the sale, the director now directly owns 363,168 shares of the company’s stock, valued at $21,150,904.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,284 shares of company stock valued at $1,324,593. Corporate insiders own 2.30% of the company’s stock.
About National Fuel Gas
National Fuel Gas Company operates as a diversified energy company. It operates through five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. The Exploration and Production segment explores for, develops, and produces natural gas and oil in California and in the Appalachian region of the United States.
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