National Fuel Gas Company (NFG) to Issue $0.42 Quarterly Dividend
National Fuel Gas Company (NYSE:NFG) declared a quarterly dividend on Thursday, September 14th, RTT News reports. Stockholders of record on Friday, September 29th will be paid a dividend of 0.415 per share by the oil and gas producer on Friday, October 13th. This represents a $1.66 annualized dividend and a dividend yield of 2.82%.
National Fuel Gas has raised its dividend payment by an average of 12.8% annually over the last three years and has increased its dividend annually for the last 46 consecutive years. National Fuel Gas has a dividend payout ratio of 50.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect National Fuel Gas to earn $2.96 per share next year, which means the company should continue to be able to cover its $1.66 annual dividend with an expected future payout ratio of 56.1%.
Shares of National Fuel Gas (NYSE:NFG) traded up 1.65% on Thursday, hitting $59.74. 283,604 shares of the stock traded hands. The firm’s 50-day moving average is $58.47 and its 200 day moving average is $57.62. National Fuel Gas has a 12-month low of $50.61 and a 12-month high of $61.25. The firm has a market cap of $5.11 billion, a P/E ratio of 18.60 and a beta of 0.98.
National Fuel Gas (NYSE:NFG) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. The business had revenue of $348.37 million during the quarter, compared to analyst estimates of $373.86 million. National Fuel Gas had a net margin of 17.38% and a return on equity of 18.31%. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Equities research analysts forecast that National Fuel Gas will post $3.33 EPS for the current fiscal year.
A number of analysts recently issued reports on NFG shares. Jefferies Group LLC restated a “hold” rating and issued a $54.00 price target (up previously from $52.00) on shares of National Fuel Gas in a research note on Friday, September 1st. BidaskClub lowered shares of National Fuel Gas from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Scotiabank set a $58.00 price target on shares of National Fuel Gas and gave the stock a “hold” rating in a research note on Saturday, July 1st. TheStreet upgraded shares of National Fuel Gas from a “c+” rating to a “b” rating in a research note on Friday, June 16th. Finally, ValuEngine lowered shares of National Fuel Gas from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Six research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $59.67.
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About National Fuel Gas
National Fuel Gas Company is a holding company. The Company is an energy company engaged principally in the production, gathering, transportation, distribution and marketing of natural gas. The Company operates in five business segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing.
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