National Fuel Gas (NFG) Lifted to Buy at Zacks Investment Research

National Fuel Gas (NYSE:NFG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $56.00 price objective on the oil and gas producer’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.79% from the stock’s current price.

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. “

Other equities research analysts also recently issued reports about the company. TheStreet raised National Fuel Gas from a “c” rating to a “b-” rating in a report on Friday, February 2nd. Sidoti raised National Fuel Gas from a “neutral” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Tuesday, January 2nd. Jefferies Group raised National Fuel Gas from a “hold” rating to a “buy” rating in a report on Monday. Finally, Scotiabank set a $61.00 price objective on National Fuel Gas and gave the company a “hold” rating in a report on Saturday, November 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $61.00.

Shares of National Fuel Gas (NYSE NFG) traded down $0.14 on Thursday, reaching $49.65. The company had a trading volume of 348,393 shares, compared to its average volume of 485,412. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.43 and a quick ratio of 1.27. The firm has a market capitalization of $4,272.07, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 4.85 and a beta of 0.88. National Fuel Gas has a 52-week low of $48.31 and a 52-week high of $61.25.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.21. The business had revenue of $419.66 million during the quarter, compared to the consensus estimate of $453.61 million. National Fuel Gas had a return on equity of 16.36% and a net margin of 24.93%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 earnings per share. equities research analysts predict that National Fuel Gas will post 3.32 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of National Fuel Gas by 1.7% during the second quarter. State Street Corp now owns 5,838,831 shares of the oil and gas producer’s stock worth $326,039,000 after purchasing an additional 98,720 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of National Fuel Gas by 1.3% during the third quarter. JPMorgan Chase & Co. now owns 4,258,377 shares of the oil and gas producer’s stock worth $243,237,000 after purchasing an additional 53,908 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of National Fuel Gas by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 1,209,985 shares of the oil and gas producer’s stock worth $68,498,000 after purchasing an additional 10,368 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of 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 worth $46,918,000 after purchasing an additional 50,137 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of National Fuel Gas by 1.6% during the second quarter. Northern Trust Corp now owns 694,836 shares of the oil and gas producer’s stock worth $38,800,000 after purchasing an additional 11,119 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

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National Fuel Gas Company Profile

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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