National Fuel Gas (NYSE:NFG) Downgraded by Wall Street Zen to "Hold"

Key Points

• National Fuel Gas (NYSE:NFG) was downgraded by Wall Street Zen from a "buy" to a "hold" rating, reflecting a shift in investor sentiment.
• Despite the downgrade, the company's stock saw recent target price increases, with Scotiabank raising it to $98.00 and Bank of America upgrading it to $107.00.
• For the most recent quarter, National Fuel Gas reported an EPS of $1.64, exceeding expectations, but its revenue of $531.83 million fell short of forecasts of $596.12 million.

National Fuel Gas (NYSE:NFG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

A number of other equities research analysts have also recently issued reports on NFG. Scotiabank raised their target price on National Fuel Gas from $88.00 to $98.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Bank of America upgraded National Fuel Gas from an "underperform" rating to a "buy" rating and raised their target price for the company from $85.00 to $107.00 in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.33.

National Fuel Gas Stock Performance

Shares of NFG opened at $87.95 on Friday. The business's fifty day moving average price is $85.19 and its 200 day moving average price is $79.48. National Fuel Gas has a 12-month low of $58.30 and a 12-month high of $89.82. The stock has a market capitalization of $7.95 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 0.51 and a beta of 0.65. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.46 and a quick ratio of 0.39.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The oil and gas producer reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.14. The firm had revenue of $531.83 million for the quarter, compared to analysts' expectations of $596.12 million. National Fuel Gas had a return on equity of 20.81% and a net margin of 11.15%. The firm's revenue for the quarter was up 27.4% on a year-over-year basis. During the same period last year, the business posted $0.99 earnings per share. Equities research analysts forecast that National Fuel Gas will post 6.64 EPS for the current year.

Institutional Investors Weigh In On National Fuel Gas

A number of hedge funds and other institutional investors have recently modified their holdings of NFG. Assetmark Inc. raised its stake in shares of National Fuel Gas by 9,475.0% during the first quarter. Assetmark Inc. now owns 383 shares of the oil and gas producer's stock valued at $30,000 after purchasing an additional 379 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of National Fuel Gas during the second quarter valued at about $30,000. Quarry LP bought a new stake in shares of National Fuel Gas during the fourth quarter valued at about $32,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of National Fuel Gas by 316.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 400 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 304 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of National Fuel Gas by 355.1% during the second quarter. Golden State Wealth Management LLC now owns 405 shares of the oil and gas producer's stock valued at $34,000 after purchasing an additional 316 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors.

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. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.

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