National Fuel Gas Soars 3.15% on Dividend Hike

National Fuel Gas(NFG) surged to a record high today, with an intraday gain of 3.15%.

The strategy of buying NFG shares after they reach a recent high and holding for one week resulted in a 25.39% return, significantly underperforming the benchmark return of 56.28%. The strategy had a negative excess return of -30.89% and a CAGR of 9.80%, indicating that while the strategy generated some returns, they were far below the benchmark. With a Sharpe ratio of 0.51 and a maximum drawdown of -25.32%, the strategy faced significant volatility and risk, highlighting the challenges of such a short-term holding approach.

National Fuel Gas Company recently announced a 3.9% increase in its quarterly dividend, raising it from 51.5 cents to 53.5 cents per share. This increase brings the annual dividend rate to $2.14 per share, marking the 55th consecutive year of dividend increases. This move underscores the company's strong financial performance and its commitment to returning value to shareholders.

Institutional investors have shown significant activity regarding NFG stock. LSV Asset Management and Invesco Ltd. have notably increased their holdings, indicating confidence in the company's future performance. This institutional interest further supports the positive outlook for National Fuel Gas.