National Fuel Gas (NYSE:NFG) Reaches New 1-Year High – Time to Buy?

Shares of National Fuel Gas (NYSE:NFG) hit a new 52-week high during trading on Thursday . The company traded as high as $63.57 and last traded at $63.56, with a volume of 217312 shares trading hands. The stock had previously closed at $61.67.

Analysts Set New Price Targets

Several brokerages recently issued reports on NFG. Scotiabank increased their price target on National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com cut National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Bank of America assumed coverage on shares of National Fuel Gas in a research report on Monday, October 28th. They issued an “underperform” rating and a $62.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th.

National Fuel Gas Price Performance

The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 76.14 and a beta of 0.62. 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 stock’s 50-day moving average price is $60.85 and its 200 day moving average price is $58.34.

National Fuel Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.515 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.24%. National Fuel Gas’s dividend payout ratio (DPR) is presently 254.32%.

Insider Buying and Selling at National Fuel Gas

In other news, General Counsel Michael W. Reville sold 1,700 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $60.77, for a total transaction of $103,309.00. Following the sale, the general counsel now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On National Fuel Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in NFG. Victory Capital Management Inc. raised its stake in shares of National Fuel Gas by 44.2% during the 3rd quarter. Victory Capital Management Inc. now owns 2,498,205 shares of the oil and gas producer’s stock worth $151,416,000 after purchasing an additional 765,236 shares during the period. AQR Capital Management LLC lifted its holdings in National Fuel Gas by 159.5% during the second quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock valued at $47,711,000 after purchasing an additional 541,176 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in National Fuel Gas by 194.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 378,588 shares of the oil and gas producer’s stock valued at $20,516,000 after buying an additional 249,967 shares in the last quarter. Mackenzie Financial Corp lifted its position in National Fuel Gas by 262.5% during the second quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock valued at $17,237,000 after purchasing an additional 230,332 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in National Fuel Gas in the 2nd quarter worth $10,741,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Company Profile

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.