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

National Fuel Gas (NYSE:NFG)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $65.18 and last traded at $65.00, with a volume of 290683 shares changing hands. The stock had previously closed at $63.67.

Analysts Set New Price Targets

NFG has been the subject of a number of research analyst reports. Argus raised National Fuel Gas to a “strong-buy” rating in a report on Tuesday, November 19th. StockNews.com raised National Fuel Gas from a “sell” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. cut their price target on National Fuel Gas from $65.00 to $64.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Finally, Bank of America started coverage on National Fuel Gas in a report on Monday, October 28th. They set an “underperform” rating and a $62.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $69.00.

National Fuel Gas Price Performance

The stock has a market capitalization of $5.90 billion, a P/E ratio of 80.14 and a beta of 0.64. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $61.52 and a two-hundred day simple moving average of $59.95.

National Fuel Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.06 annualized dividend and a yield of 3.17%. National Fuel Gas’s dividend payout ratio is currently 254.32%.

Insider Activity at National Fuel Gas

In related news, insider Justin I. Loweth sold 19,532 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $62.27, for a total transaction of $1,216,257.64. Following the completion of the sale, the insider now directly owns 41,841 shares of the company’s stock, valued at approximately $2,605,439.07. This represents a 31.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donna L. Decarolis sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $62.58, for a total value of $625,800.00. Following the sale, the insider now directly owns 81,519 shares of the company’s stock, valued at approximately $5,101,459.02. The trade was a 10.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by corporate insiders.

Institutional Trading of National Fuel Gas

Large investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. increased its stake in National Fuel Gas by 12.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,698 shares of the oil and gas producer’s stock worth $467,000 after purchasing an additional 859 shares in the last quarter. Zacks Investment Management bought a new position in shares of National Fuel Gas during the 3rd quarter worth approximately $957,000. Empowered Funds LLC bought a new position in shares of National Fuel Gas during the 3rd quarter worth approximately $1,277,000. Vestcor Inc bought a new position in shares of National Fuel Gas during the 3rd quarter worth approximately $716,000. Finally, BNP Paribas Financial Markets grew its stake in shares of National Fuel Gas by 76.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,790 shares of the oil and gas producer’s stock worth $1,927,000 after acquiring an additional 13,739 shares in the last quarter. 73.96% of the stock is owned by institutional investors.

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.