National Fuel Gas (NYSE:NFG) Price Target Raised to $80.00 at Scotiabank

National Fuel Gas (NYSE:NFG) had its price target upped by Scotiabank from $75.00 to $80.00 in a research report report published on Friday morning, Benzinga reports. They currently have a sector outperform rating on the oil and gas producer’s stock.

Separately, StockNews.com raised shares of National Fuel Gas from a sell rating to a hold rating in a report on Wednesday, March 20th.

National Fuel Gas Stock Performance

Shares of NFG stock opened at $56.69 on Friday. The firm’s 50-day simple moving average is $55.55 and its two-hundred day simple moving average is $52.37. National Fuel Gas has a 52 week low of $45.32 and a 52 week high of $57.60. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 11.25 and a beta of 0.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.50 and a current ratio of 0.58.

National Fuel Gas (NYSE:NFG) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.38. National Fuel Gas had a return on equity of 15.06% and a net margin of 23.84%. The firm had revenue of $629.94 million during the quarter, compared to analyst estimates of $767.33 million. During the same period last year, the company earned $1.54 earnings per share. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. As a group, equities analysts forecast that National Fuel Gas will post 5.18 earnings per share for the current year.

National Fuel Gas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.515 dividend. The ex-dividend date was Friday, June 28th. This is an increase from National Fuel Gas’s previous quarterly dividend of $0.50. This represents a $2.06 annualized dividend and a yield of 3.63%. National Fuel Gas’s payout ratio is currently 40.87%.

Insider Activity

In related news, General Counsel Michael W. Reville sold 6,357 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $54.83, for a total transaction of $348,554.31. Following the transaction, the general counsel now owns 9,903 shares in the company, valued at approximately $542,981.49. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On National Fuel Gas

Several institutional investors and hedge funds have recently modified their holdings of NFG. American Century Companies Inc. lifted its position in National Fuel Gas by 455.3% during the third quarter. American Century Companies Inc. now owns 139,690 shares of the oil and gas producer’s stock valued at $7,251,000 after buying an additional 114,535 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in National Fuel Gas by 98.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,651 shares of the oil and gas producer’s stock worth $1,591,000 after acquiring an additional 15,169 shares during the last quarter. Vanguard Group Inc. boosted its stake in National Fuel Gas by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 13,190,115 shares of the oil and gas producer’s stock valued at $684,699,000 after purchasing an additional 311,599 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in National Fuel Gas by 5.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 193,209 shares of the oil and gas producer’s stock worth $9,693,000 after buying an additional 9,692 shares in the last quarter. Finally, Tompkins Financial Corp bought a new position in National Fuel Gas during the fourth quarter valued at approximately $572,000. 73.96% of the stock is 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 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.