National Fuel Gas (NYSE:NFG) Upgraded to Buy by Jefferies Financial Group

Jefferies Financial Group upgraded shares of National Fuel Gas (NYSE:NFG) from a hold rating to a buy rating in a research report report published on Tuesday, BenzingaRatingsTable reports. They currently have $51.00 target price on the oil and gas producer’s stock. Jefferies Financial Group also issued estimates for National Fuel Gas’ FY2019 earnings at $3.41 EPS, Q1 2020 earnings at $1.03 EPS, Q2 2020 earnings at $1.09 EPS, Q3 2020 earnings at $0.62 EPS, Q4 2020 earnings at $0.42 EPS, FY2020 earnings at $3.17 EPS, FY2021 earnings at $3.23 EPS, FY2022 earnings at $3.37 EPS and FY2023 earnings at $3.59 EPS.

A number of other brokerages have also recently weighed in on NFG. Zacks Investment Research raised National Fuel Gas from a strong sell rating to a hold rating and set a $41.00 price target on the stock in a research note on Thursday, August 8th. TheStreet cut National Fuel Gas from a b rating to a c+ rating in a research note on Friday, July 19th. Finally, ValuEngine raised National Fuel Gas from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $47.00.

NYSE:NFG opened at $44.58 on Tuesday. The business’s 50-day moving average price is $46.58 and its 200 day moving average price is $52.00. The firm has a market cap of $3.87 billion, a P/E ratio of 13.35, a PEG ratio of 4.76 and a beta of 0.74. National Fuel Gas has a 52-week low of $42.98 and a 52-week high of $61.71. The company has a quick ratio of 0.88, a current ratio of 1.02 and a debt-to-equity ratio of 1.00.

National Fuel Gas (NYSE:NFG) last released its earnings results on Thursday, August 1st. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The firm had revenue of $357.20 million for the quarter, compared to analyst estimates of $400.88 million. National Fuel Gas had a return on equity of 14.53% and a net margin of 17.46%. National Fuel Gas’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 earnings per share. Sell-side analysts expect that National Fuel Gas will post 3.45 EPS for the current year.

The business also recently declared a — dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.435 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a yield of 3.6%. National Fuel Gas’s dividend payout ratio is currently 52.10%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Stonebridge Capital Advisors LLC purchased a new position in National Fuel Gas in the 2nd quarter worth about $26,000. Prestige Wealth Management Group LLC purchased a new position in National Fuel Gas in the 2nd quarter worth about $37,000. FinTrust Capital Advisors LLC purchased a new position in National Fuel Gas in the 2nd quarter worth about $53,000. NumerixS Investment Technologies Inc acquired a new stake in National Fuel Gas during the 2nd quarter worth about $69,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in National Fuel Gas during the 2nd quarter worth about $69,000. 73.25% of the stock is currently owned by hedge funds and other institutional investors.

National Fuel Gas Company Profile

National Fuel Gas Company operates as a diversified energy company. It operates through five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. The Exploration and Production segment explores for, develops, and produces natural gas and oil in California and in the Appalachian region of the United States.

See Also: Capital Gains Distribution

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