National Fuel Gas (NYSE:NFG) Sets New 52-Week Low – Here’s What Happened

National Fuel Gas Company (NYSE:NFG) reached a new 52-week low on Monday . The company traded as low as $75.67 and last traded at $76.9910, with a volume of 23886 shares trading hands. The stock had previously closed at $77.55.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NFG shares. KeyCorp began coverage on National Fuel Gas in a research note on Tuesday, April 7th. They issued an “overweight” rating and a $110.00 price target for the company. Zacks Research upgraded National Fuel Gas from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Weiss Ratings lowered National Fuel Gas from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, National Fuel Gas has an average rating of “Moderate Buy” and a consensus price target of $106.00.

National Fuel Gas Stock Down 0.5%

The stock has a market cap of $7.34 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.71 and a beta of 0.37. 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 business has a 50-day moving average price of $84.07 and a 200-day moving average price of $85.05.

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

National Fuel Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.555 per share. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, June 30th. This represents a $2.22 annualized dividend and a yield of 2.9%. National Fuel Gas’s dividend payout ratio (DPR) is presently 28.96%.

Institutional Investors Weigh In On National Fuel Gas

Several large investors have recently bought and sold shares of the company. State Street Corp increased its stake in National Fuel Gas by 3.4% during the 2nd quarter. State Street Corp now owns 4,035,345 shares of the oil and gas producer’s stock worth $343,962,000 after buying an additional 132,855 shares in the last quarter. Energy Income Partners LLC increased its stake in National Fuel Gas by 1.1% during 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 buying an additional 28,755 shares in the last quarter. AQR Capital Management LLC increased its stake in National Fuel Gas by 103.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,138,153 shares of the oil and gas producer’s stock worth $197,501,000 after buying an additional 1,087,067 shares in the last quarter. Geode Capital Management LLC increased its stake in National Fuel Gas by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 1,816,217 shares of the oil and gas producer’s stock worth $145,446,000 after buying an additional 121,099 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in National Fuel Gas by 653.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,582,782 shares of the oil and gas producer’s stock worth $126,718,000 after buying an additional 1,372,742 shares in the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

About National Fuel Gas

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.