National Fuel Gas (NYSE:NFG) Hits New 52-Week Low Following Weak Earnings

National Fuel Gas (NYSE:NFG) hit a new 52-week low on Thursday following a weaker than expected earnings announcement. The stock traded as low as $48.60 and last traded at $50.31, with a volume of 53473 shares. The stock had previously closed at $51.68.

The oil and gas producer reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). National Fuel Gas had a net margin of 25.06% and a return on equity of 19.71%. The business had revenue of $368.95 million for the quarter, compared to the consensus estimate of $475.08 million. During the same quarter last year, the firm earned $1.19 EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis.

National Fuel Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Thursday, September 28th. National Fuel Gas’s payout ratio is presently 32.57%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. Scotiabank upgraded National Fuel Gas from a “sector perform” rating to a “sector outperform” rating and set a $68.00 price target for the company in a research note on Wednesday, September 13th. Finally, Bank of America upped their target price on National Fuel Gas from $59.00 to $61.00 in a research report on Wednesday, September 27th.

Institutional Investors Weigh In On National Fuel Gas

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates lifted its holdings in shares of National Fuel Gas by 0.4% in the first quarter. Raymond James & Associates now owns 47,532 shares of the oil and gas producer’s stock valued at $3,265,000 after purchasing an additional 170 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of National Fuel Gas by 22.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,127 shares of the oil and gas producer’s stock worth $2,001,000 after purchasing an additional 5,424 shares in the last quarter. HighTower Advisors LLC boosted its holdings in National Fuel Gas by 12.3% during the 1st quarter. HighTower Advisors LLC now owns 15,176 shares of the oil and gas producer’s stock valued at $1,043,000 after acquiring an additional 1,658 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in National Fuel Gas by 10.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,513 shares of the oil and gas producer’s stock valued at $2,302,000 after acquiring an additional 3,282 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in National Fuel Gas by 15.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 54,988 shares of the oil and gas producer’s stock valued at $3,885,000 after purchasing an additional 7,259 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

National Fuel Gas Price Performance

The business has a 50-day simple moving average of $52.74 and a 200 day simple moving average of $52.58. The firm has a market cap of $4.88 billion, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 1.13 and a beta of 0.67. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.52 and a current ratio of 0.61.

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 in California and in the Appalachian region of the United States.