National Fuel Gas (NYSE:NFG) Upgraded at Bank of America

Bank of America upgraded shares of National Fuel Gas (NYSE:NFG) from an underperform rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. They currently have $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 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 research note on Saturday, July 12th. Scotiabank increased their price target on shares of National Fuel Gas from $88.00 to $98.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.33.

National Fuel Gas Trading Down 0.3%

Shares of NFG opened at $88.02 on Tuesday. The company’s fifty day moving average is $83.26 and its 200 day moving average is $76.80. National Fuel Gas has a fifty-two week low of $56.29 and a fifty-two week high of $89.82. The stock has a market capitalization of $7.95 billion, a PE ratio of 204.70, a P/E/G ratio of 0.53 and a beta of 0.62. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.43 and a current ratio of 0.47.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings results on Wednesday, April 30th. The oil and gas producer reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.21. The firm had revenue of $729.95 million for the quarter, compared to analysts’ expectations of $770.81 million. National Fuel Gas had a net margin of 1.91% and a return on equity of 18.55%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.79 earnings per share. Sell-side analysts expect that National Fuel Gas will post 6.64 earnings per share for the current fiscal year.

National Fuel Gas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 2.43%. This is a positive change from National Fuel Gas’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, June 30th. National Fuel Gas’s dividend payout ratio is presently 497.67%.

Hedge Funds Weigh In On National Fuel Gas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Schroder Investment Management Group raised its position in shares of 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 valued at $551,000 after purchasing an additional 350 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in National Fuel Gas in the 1st quarter worth approximately $203,000. Cambridge Investment Research Advisors Inc. increased its holdings in 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 worth $1,044,000 after buying an additional 712 shares during the period. KBC Group NV increased its holdings in National Fuel Gas by 18.5% in the 1st quarter. KBC Group NV now owns 3,908 shares of the oil and gas producer’s stock worth $309,000 after buying an additional 609 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in 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 buying an additional 22,320 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

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. 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.