Bank of America upgraded shares of National Fuel Gas (NYSE:NFG - Free Report) from an underperform rating to a buy rating in a research report released on Tuesday morning, MarketBeat.com reports. Bank of America currently has $107.00 target price on the oil and gas producer's stock, up from their previous target price of $85.00.
A number of other research analysts have also weighed in on the stock. Wall Street Zen lowered shares of National Fuel Gas from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Scotiabank lifted their price objective on shares of National Fuel Gas from $88.00 to $98.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, National Fuel Gas presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.33.
Read Our Latest Stock Report on National Fuel Gas
National Fuel Gas Price Performance
Shares of NYSE:NFG traded down $0.29 during midday trading on Tuesday, reaching $88.02. 692,581 shares of the company were exchanged, compared to its average volume of 573,021. The stock has a market cap of $7.95 billion, a PE ratio of 204.70, a price-to-earnings-growth ratio of 0.57 and a beta of 0.62. The business's fifty day moving average is $83.12 and its two-hundred day moving average is $76.61. National Fuel Gas has a one year low of $56.29 and a one year high of $89.82. The company has a current ratio of 0.47, a quick ratio of 0.43 and a debt-to-equity ratio of 0.86.
National Fuel Gas (NYSE:NFG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The oil and gas producer reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.18 by $0.21. National Fuel Gas had a return on equity of 18.55% and a net margin of 1.91%. The firm had revenue of $729.95 million during the quarter, compared to analyst estimates of $770.81 million. During the same quarter last year, the business posted $1.79 earnings per share. The business's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, analysts predict that National Fuel Gas will post 6.64 earnings per share for the current year.
National Fuel Gas Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.535 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.14 annualized dividend and a dividend yield of 2.43%. This is an increase from National Fuel Gas's previous quarterly dividend of $0.52. National Fuel Gas's dividend payout ratio is currently 497.67%.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Schroder Investment Management Group raised its stake in National Fuel Gas by 4.0% in the 4th quarter. Schroder Investment Management Group now owns 9,122 shares of the oil and gas producer's stock worth $551,000 after acquiring an additional 350 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of National Fuel Gas in the first quarter valued at $203,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of National Fuel Gas by 5.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,184 shares of the oil and gas producer's stock valued at $1,044,000 after acquiring an additional 712 shares during the last quarter. KBC Group NV grew its position in shares of National Fuel Gas by 18.5% during the first quarter. KBC Group NV now owns 3,908 shares of the oil and gas producer's stock worth $309,000 after acquiring an additional 609 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of National Fuel Gas by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,104,852 shares of the oil and gas producer's stock worth $87,493,000 after acquiring an additional 22,320 shares during the period. Institutional investors own 73.96% of the company's stock.
About National Fuel Gas
(
Get Free Report)
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.
Featured Stories
Before you consider National Fuel Gas, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and National Fuel Gas wasn't on the list.
While National Fuel Gas currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.