National Fuel Gas (NYSE:NFG) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of National Fuel Gas (NYSE:NFG) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

NFG has been the subject of several other reports. Scotiabank set a $101.00 price objective on National Fuel Gas in a report on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of National Fuel Gas in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, National Fuel Gas has a consensus rating of “Hold” and a consensus target price of $96.33.

National Fuel Gas Price Performance

Shares of NYSE NFG opened at $81.59 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.35 and a current ratio of 0.44. National Fuel Gas has a one year low of $67.11 and a one year high of $94.13. The firm has a market capitalization of $7.75 billion, a P/E ratio of 14.37, a PEG ratio of 1.13 and a beta of 0.61. The company’s fifty day moving average is $81.14 and its two-hundred day moving average is $84.26.

National Fuel Gas (NYSE:NFG) last announced its quarterly earnings results on Thursday, November 6th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. The business had revenue of $466.28 million during the quarter, compared to the consensus estimate of $534.57 million. National Fuel Gas had a net margin of 22.86% and a return on equity of 21.76%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. Analysts forecast that National Fuel Gas will post 6.64 EPS for the current fiscal year.

National Fuel Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.535 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.14 annualized dividend and a dividend yield of 2.6%. National Fuel Gas’s dividend payout ratio is presently 37.68%.

Institutional Trading of National Fuel Gas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC purchased a new position in shares of National Fuel Gas during the 3rd quarter worth $29,000. Richardson Financial Services Inc. increased its stake in National Fuel Gas by 88.5% in the third quarter. Richardson Financial Services Inc. now owns 360 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 169 shares during the last quarter. Golden State Wealth Management LLC lifted its position in National Fuel Gas by 355.1% during the second quarter. Golden State Wealth Management LLC now owns 405 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 316 shares during the period. Hantz Financial Services Inc. boosted its stake in National Fuel Gas by 105.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 423 shares of the oil and gas producer’s stock worth $39,000 after buying an additional 217 shares during the last quarter. Finally, Eastern Bank acquired a new stake in National Fuel Gas in the 4th quarter worth about $42,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

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.