National Fuel Gas (NFG) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of National Fuel Gas (NYSE:NFG) from a sell rating to a hold rating in a research note published on Wednesday.

According to Zacks, “National Fuel Gas Company operates as a diversified energy company. The company operates in five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. The Exploration and Production segment explores for, develops, and produces natural gas and oil reserves in California in the Appalachian region of the United States. The Pipeline and Storage segment provides interstate natural gas transportation and storage services through an integrated gas pipeline system extending from Southwestern Pennsylvania to the New York-Canadian border etc. The Gathering segment builds, owns, and operates natural gas processing and pipeline gathering facilities in the Appalachian region. The Energy Marketing segment markets natural gas to industrial, wholesale, commercial, public authority, and residential customers primarily in western and central New York, and north-western Pennsylvania. “

Several other analysts have also issued reports on NFG. Sidoti assumed coverage on National Fuel Gas in a report on Thursday, October 12th. They set a neutral rating and a $65.00 price objective for the company. Scotiabank set a $61.00 price objective on National Fuel Gas and gave the stock a hold rating in a report on Saturday, November 25th. Jefferies Group reiterated a hold rating and set a $58.00 price objective on shares of National Fuel Gas in a report on Wednesday, December 20th. Finally, TheStreet lowered National Fuel Gas from a b- rating to a c rating in a report on Thursday, November 2nd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $62.67.

Shares of National Fuel Gas (NFG) traded down $0.79 during trading hours on Wednesday, hitting $55.37. The company had a trading volume of 526,546 shares, compared to its average volume of 439,117. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 1.22. National Fuel Gas has a twelve month low of $53.03 and a twelve month high of $61.25. The stock has a market capitalization of $4,740.00, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 6.12 and a beta of 0.94.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. National Fuel Gas had a return on equity of 17.16% and a net margin of 17.94%. The business had revenue of $286.94 million during the quarter, compared to analyst estimates of $325.81 million. During the same period last year, the company earned $0.66 earnings per share. National Fuel Gas’s quarterly revenue was down 1.9% compared to the same quarter last year. sell-side analysts anticipate that National Fuel Gas will post 2.94 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were issued a dividend of $0.415 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.66 annualized dividend and a yield of 3.00%. National Fuel Gas’s dividend payout ratio (DPR) is currently 50.30%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. raised its holdings in National Fuel Gas by 12.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 321,236 shares of the oil and gas producer’s stock valued at $17,640,000 after buying an additional 35,421 shares in the last quarter. Convergence Investment Partners LLC raised its holdings in National Fuel Gas by 47.2% during the fourth quarter. Convergence Investment Partners LLC now owns 85,416 shares of the oil and gas producer’s stock valued at $4,690,000 after buying an additional 27,373 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in National Fuel Gas during the third quarter valued at about $366,000. GSA Capital Partners LLP bought a new position in National Fuel Gas during the third quarter valued at about $770,000. Finally, Tortoise Capital Advisors L.L.C. raised its holdings in National Fuel Gas by 6.4% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 828,793 shares of the oil and gas producer’s stock valued at $46,918,000 after buying an additional 50,137 shares in the last quarter. Institutional investors own 71.47% of the company’s stock.

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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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