National Fuel Gas (NYSE:NFG) Upgraded by KeyCorp to Strong-Buy Rating

KeyCorp upgraded shares of National Fuel Gas (NYSE:NFG) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on NFG. Zacks Research raised National Fuel Gas from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of National Fuel Gas in a research note on Monday, December 29th. Finally, Scotiabank set a $101.00 price objective on National Fuel Gas in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, National Fuel Gas has an average rating of “Moderate Buy” and a consensus price target of $106.00.

National Fuel Gas Stock Performance

NFG stock opened at $95.93 on Monday. The firm has a market cap of $9.12 billion, a PE ratio of 13.38, a P/E/G ratio of 1.23 and a beta of 0.52. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $90.26 and a 200-day moving average of $85.38. National Fuel Gas has a 12-month low of $70.93 and a 12-month high of $97.06.

National Fuel Gas (NYSE:NFG) last released its earnings results on Thursday, January 29th. The oil and gas producer reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.15. The company had revenue of $651.51 million during the quarter, compared to analyst estimates of $650.70 million. National Fuel Gas had a return on equity of 21.45% and a net margin of 27.65%.National Fuel Gas’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share. As a group, sell-side analysts expect that National Fuel Gas will post 6.64 earnings per share for the current year.

National Fuel Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.535 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.14 annualized dividend and a yield of 2.2%. National Fuel Gas’s dividend payout ratio is presently 29.85%.

Hedge Funds Weigh In On National Fuel Gas

Several institutional investors have recently bought and sold shares of NFG. Root Financial Partners LLC purchased a new position in National Fuel Gas in the third quarter valued at approximately $29,000. Fairscale Capital LLC purchased a new position in National Fuel Gas in the fourth quarter valued at approximately $29,000. HM Payson & Co. purchased a new stake in shares of National Fuel Gas during the fourth quarter worth $29,000. Richardson Financial Services Inc. lifted its position in shares of National Fuel Gas by 88.5% during the third quarter. Richardson Financial Services Inc. now owns 360 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 169 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of National Fuel Gas by 105.3% during the third quarter. Hantz Financial Services Inc. now owns 423 shares of the oil and gas producer’s stock worth $39,000 after acquiring an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

About National Fuel Gas

National Fuel Gas Company (NYSE: NFG) is a diversified energy company engaged primarily in the production, gathering, transmission, distribution and marketing of natural gas. The company operates through four principal segments: Exploration & Production, Pipeline & Storage, Utilities, and Energy Marketing. Its integrated asset base spans upstream development in the Appalachian Basin, regional pipeline networks, underground storage facilities, and regulated utility distribution systems.

In its Exploration & Production segment, National Fuel Gas focuses on developing natural gas reserves in the Marcellus and Utica shales, leveraging modern drilling and completion techniques.