National Fuel Gas (NYSE:NFG) Coverage Initiated at KeyCorp

KeyCorp started coverage on shares of National Fuel Gas (NYSE:NFG) in a research report issued on Tuesday,Benzinga reports. The brokerage set an “overweight” rating and a $110.00 price target on the oil and gas producer’s stock. KeyCorp’s target price would suggest a potential upside of 16.43% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Zacks Research upgraded shares of National Fuel Gas from a “strong sell” rating to a “hold” rating in a research 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 target price on shares of National Fuel Gas in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, National Fuel Gas presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

National Fuel Gas Stock Performance

NYSE NFG opened at $94.48 on Tuesday. National Fuel Gas has a 52-week low of $69.93 and a 52-week high of $97.06. The company has a 50-day simple moving average of $90.00 and a 200 day simple moving average of $85.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.59 and a current ratio of 0.65. The company has a market capitalization of $8.98 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.23 and a beta of 0.52.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings data on Thursday, January 29th. The oil and gas producer reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.15. National Fuel Gas had a net margin of 27.65% and a return on equity of 21.45%. The business had revenue of $651.51 million during the quarter, compared to the consensus estimate of $650.70 million. During the same quarter last year, the company posted $1.66 earnings per share. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, research analysts predict that National Fuel Gas will post 6.64 EPS for the current year.

Hedge Funds Weigh In On National Fuel Gas

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of National Fuel Gas by 30.0% in the first quarter. Goldman Sachs Group Inc. now owns 159,953 shares of the oil and gas producer’s stock valued at $12,667,000 after acquiring an additional 36,913 shares during the period. Empowered Funds LLC bought a new stake in National Fuel Gas during the first quarter valued at approximately $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in National Fuel Gas by 3.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,730 shares of the oil and gas producer’s stock valued at $17,480,000 after purchasing an additional 8,304 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of National Fuel Gas by 79.5% in the 1st quarter. Focus Partners Wealth now owns 12,729 shares of the oil and gas producer’s stock worth $1,008,000 after acquiring an additional 5,638 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of National Fuel Gas in the 1st quarter worth approximately $138,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

National Fuel Gas Company Profile

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.