National Fuel Gas (NYSE:NFG) Stock Price Target Lowered at KeyCorp

National Fuel Gas (NYSE:NFG) had its price target reduced by KeyCorp from $95.00 to $91.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of National Fuel Gas from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Weiss Ratings upgraded National Fuel Gas from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, National Fuel Gas presently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

National Fuel Gas Stock Performance

NYSE:NFG opened at $75.76 on Wednesday. The firm’s fifty day simple moving average is $79.19 and its 200-day simple moving average is $83.14. The company has a quick ratio of 1.47, a current ratio of 1.54 and a debt-to-equity ratio of 0.82. The stock has a market cap of $7.20 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 2.01 and a beta of 0.36. National Fuel Gas has a fifty-two week low of $73.01 and a fifty-two week high of $97.06.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Wednesday, November 4th. The oil and gas producer reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. National Fuel Gas had a net margin of 26.46% and a return on equity of 17.95%. The firm had revenue of $467.85 million for the quarter, compared to the consensus estimate of $472.38 million. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Analysts expect that National Fuel Gas will post 6.20 earnings per share for the current fiscal year.

National Fuel Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.5550 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.22 annualized dividend and a dividend yield of 2.9%. National Fuel Gas’s dividend payout ratio is presently 31.53%.

Hedge Funds Weigh In On National Fuel Gas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Freestone Grove Partners LP purchased a new position in National Fuel Gas in the second quarter valued at about $710,000. Oppenheimer Asset Management Inc. acquired a new position in National Fuel Gas in the second quarter worth $7,983,000. Public Employees Retirement System of Ohio acquired a new position in shares of National Fuel Gas in the 2nd quarter valued at about $2,629,000. Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in shares of National Fuel Gas by 75.5% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 91,770 shares of the oil and gas producer’s stock valued at $6,962,000 after buying an additional 39,479 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of National Fuel Gas in the 2nd quarter valued at about $58,343,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

About National Fuel Gas

National Fuel Gas Company is a diversified natural gas business founded in 1902 and headquartered in Williamsville, New York. Its operations span natural gas production, gathering and transportation, storage, and local distribution. Through Seneca Resources, the company explores for and produces natural gas, primarily in the Appalachian region. Its pipeline and storage businesses gather, transport, and store natural gas, connecting production areas with markets and other pipeline systems. National Fuel Gas also distributes natural gas to homes and businesses in western New York and northwestern Pennsylvania.