National Fuel Gas (NYSE:NFG) Stock Rating Upgraded by Scotiabank

Scotiabank upgraded shares of National Fuel Gas (NYSE:NFG) from a sector perform rating to a sector outperform rating in a report released on Wednesday, Marketbeat reports. They currently have $68.00 price objective on the oil and gas producer’s stock.

Several other equities analysts have also recently commented on NFG. StockNews.com cut National Fuel Gas from a hold rating to a sell rating in a report on Friday, August 25th. The Goldman Sachs Group cut their price target on National Fuel Gas from $60.00 to $54.00 in a report on Wednesday, May 24th. Finally, Argus cut their price target on National Fuel Gas from $76.00 to $58.00 in a report on Wednesday, May 24th.

National Fuel Gas Price Performance

NYSE NFG opened at $54.21 on Wednesday. National Fuel Gas has a twelve month low of $48.89 and a twelve month high of $70.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.52 and a current ratio of 0.61. The stock has a market capitalization of $4.98 billion, a PE ratio of 8.92, a P/E/G ratio of 0.99 and a beta of 0.67. The stock has a 50-day simple moving average of $52.79 and a 200 day simple moving average of $53.50.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. National Fuel Gas had a return on equity of 19.71% and a net margin of 25.06%. The business had revenue of $428.70 million during the quarter, compared to analysts’ expectations of $480.10 million. Research analysts anticipate that National Fuel Gas will post 5.31 EPS for the current year.

National Fuel Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.495 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.98 annualized dividend and a dividend yield of 3.65%. National Fuel Gas’s dividend payout ratio (DPR) is presently 32.57%.

Hedge Funds Weigh In On National Fuel Gas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Belpointe Asset Management LLC lifted its position in shares of National Fuel Gas by 145.5% during the 1st quarter. Belpointe Asset Management LLC now owns 572 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 339 shares during the period. Spirit of America Management Corp NY lifted its position in shares of National Fuel Gas by 50.0% during the 2nd quarter. Spirit of America Management Corp NY now owns 600 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 200 shares during the period. Stonebridge Capital Advisors LLC increased its holdings in National Fuel Gas by 68.9% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 760 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 310 shares in the last quarter. New Hampshire Trust acquired a new stake in National Fuel Gas during the 4th quarter valued at $52,000. Finally, Fred Alger Management LLC acquired a new stake in National Fuel Gas during the 3rd quarter valued at $54,000. Institutional investors own 73.70% of the company’s stock.

About National Fuel Gas

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 in California and in the Appalachian region of the United States.