KeyCorp Issues Pessimistic Forecast for National Fuel Gas (NYSE:NFG) Stock Price

Key Points

• KeyCorp cut its National Fuel Gas price target from $95 to $91 but maintained an “overweight” rating, implying 21.74% upside from the share price cited in the report.
• Analyst sentiment remains positive overall: MarketBeat reports a “Moderate Buy” consensus and an average price target of $96, with two Buy ratings and one Hold.
• In its latest quarter, National Fuel Gas reported EPS of $1.22, beating the $1.04 estimate, while revenue of $467.85 million missed forecasts; revenue rose 2.5% year over year.

National Fuel Gas (NYSE:NFG - Get Free Report) had its target price decreased by KeyCorp from $95.00 to $91.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the oil and gas producer's stock. KeyCorp's target price would indicate a potential upside of 21.74% from the company's current price.

NFG has been the subject of several other reports. Weiss Ratings upgraded National Fuel Gas from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Wall Street Zen upgraded National Fuel Gas from a "sell" rating to a "hold" rating in a report on Saturday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, National Fuel Gas currently has a consensus rating of "Moderate Buy" and an average price target of $96.00.

National Fuel Gas Trading Up 0.8%

Shares of National Fuel Gas stock opened at $74.75 on Wednesday. The firm has a market capitalization of $7.10 billion, a PE ratio of 10.62, a P/E/G ratio of 1.99 and a beta of 0.36. National Fuel Gas has a twelve month low of $73.01 and a twelve month high of $97.06. The firm's 50-day moving average price is $79.35 and its 200 day moving average price is $83.17. The company has a current ratio of 1.54, a quick ratio of 1.47 and a debt-to-equity ratio of 0.82.

National Fuel Gas (NYSE:NFG - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The oil and gas producer reported $1.22 EPS for the quarter, topping the consensus estimate of $1.04 by $0.18. National Fuel Gas had a return on equity of 17.95% and a net margin of 26.46%. The company had revenue of $467.85 million during the quarter, compared to analyst estimates of $472.38 million. During the same period in the previous year, the business earned $1.22 EPS. National Fuel Gas's quarterly revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts predict that National Fuel Gas will post 6.20 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Heartland Advisors Inc. acquired a new position in National Fuel Gas in the 3rd quarter valued at about $12,138,000. Private Advisor Group LLC lifted its position in shares of National Fuel Gas by 26.2% during the third quarter. Private Advisor Group LLC now owns 11,811 shares of the oil and gas producer's stock worth $896,000 after purchasing an additional 2,450 shares in the last quarter. Focus Advisor Solutions LLC boosted its stake in shares of National Fuel Gas by 73.6% in the third quarter. Focus Advisor Solutions LLC now owns 13,658 shares of the oil and gas producer's stock valued at $1,036,000 after purchasing an additional 5,792 shares during the period. Voya Investment Management LLC boosted its stake in shares of National Fuel Gas by 5.7% in the third quarter. Voya Investment Management LLC now owns 22,525 shares of the oil and gas producer's stock valued at $1,709,000 after purchasing an additional 1,210 shares during the period. Finally, Bogart Wealth LLC boosted its stake in shares of National Fuel Gas by 237.4% in the third quarter. Bogart Wealth LLC now owns 1,127 shares of the oil and gas producer's stock valued at $86,000 after purchasing an additional 793 shares during the period. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

National Fuel Gas Company Profile

National Fuel Gas Company is a diversified natural gas business founded in 1902 and headquartered in Williamsville, New York. Its operations span natural gas production, gathering and transportation, storage, and local distribution. Through Seneca Resources, the company explores for and produces natural gas, primarily in the Appalachian region. Its pipeline and storage businesses gather, transport, and store natural gas, connecting production areas with markets and other pipeline systems. National Fuel Gas also distributes natural gas to homes and businesses in western New York and northwestern Pennsylvania.

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