National Fuel Gas (NYSE:NFG) Reaches New 12-Month High After Analyst Upgrade

National Fuel Gas (NYSE:NFG) shares reached a new 52-week high during mid-day trading on Tuesday after Raymond James raised their price target on the stock from $62.00 to $69.00. Raymond James currently has an outperform rating on the stock. National Fuel Gas traded as high as $59.49 and last traded at $58.59, with a volume of 255390 shares. The stock had previously closed at $59.16.

Separately, Zacks Investment Research raised National Fuel Gas from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, July 20th.

In other National Fuel Gas news, CEO David P. Bauer bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 23rd. The shares were bought at an average price of $51.36 per share, with a total value of $154,080.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.73% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of NFG. West Branch Capital LLC bought a new position in shares of National Fuel Gas in the 2nd quarter worth $31,000. Meeder Asset Management Inc. increased its holdings in shares of National Fuel Gas by 151.7% in the second quarter. Meeder Asset Management Inc. now owns 750 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 452 shares during the period. Parallel Advisors LLC boosted its stake in shares of National Fuel Gas by 69.5% in the second quarter. Parallel Advisors LLC now owns 1,283 shares of the oil and gas producer’s stock worth $67,000 after buying an additional 526 shares during the last quarter. Bbva USA purchased a new stake in shares of National Fuel Gas in the second quarter worth about $75,000. Finally, FMR LLC boosted its stake in shares of National Fuel Gas by 22.4% in the second quarter. FMR LLC now owns 1,844 shares of the oil and gas producer’s stock worth $96,000 after buying an additional 338 shares during the last quarter. Institutional investors and hedge funds own 71.65% of the company’s stock.

The company has a market cap of $5.34 billion, a PE ratio of 41.26 and a beta of 0.72. The business has a 50-day simple moving average of $52.97 and a 200-day simple moving average of $52.25. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 1.31.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings results on Thursday, August 5th. The oil and gas producer reported $0.93 EPS for the quarter, beating the consensus estimate of $0.86 by $0.07. National Fuel Gas had a return on equity of 16.84% and a net margin of 7.83%. The firm had revenue of $394.40 million during the quarter, compared to analysts’ expectations of $482.82 million. On average, research analysts forecast that National Fuel Gas will post 3.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 15th. Shareholders of record on Thursday, September 30th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Wednesday, September 29th. National Fuel Gas’s dividend payout ratio (DPR) is 62.33%.

About National Fuel Gas (NYSE:NFG)

National Fuel Gas Co is a holding company, which engages in the production, gathering, transportation, distribution, and marketing of natural gas. It operates through the following segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment handles the exploration for and the development of natural gas and oil reserves in California and in the Appalachian region of the United States.

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