National Fuel Gas (NYSE:NFG) Coverage Initiated at Bank of America

Research analysts at Bank of America began coverage on shares of National Fuel Gas (NYSE:NFG) in a report released on Monday, StockNewsAPI reports. The firm set an “underperform” rating and a $62.00 price target on the oil and gas producer’s stock. Bank of America‘s price objective would indicate a potential upside of 0.81% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. JPMorgan Chase & Co. decreased their price target on shares of National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Scotiabank raised their price objective on National Fuel Gas from $80.00 to $81.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th.

National Fuel Gas Stock Performance

Shares of National Fuel Gas stock opened at $61.50 on Monday. The firm has a fifty day moving average of $60.32 and a two-hundred day moving average of $57.45. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.65 and a current ratio of 0.77. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 12.20 and a beta of 0.62. National Fuel Gas has a 52 week low of $45.32 and a 52 week high of $63.54.

National Fuel Gas (NYSE:NFG) last released its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The firm had revenue of $417.40 million for the quarter, compared to analyst estimates of $540.62 million. National Fuel Gas had a return on equity of 14.80% and a net margin of 16.42%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. As a group, equities research analysts predict that National Fuel Gas will post 3.51 EPS for the current year.

Insider Transactions at National Fuel Gas

In related news, General Counsel Michael W. Reville sold 1,700 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total transaction of $103,309.00. Following the sale, the general counsel now directly owns 8,203 shares in the company, valued at $498,496.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in National Fuel Gas by 85.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,416 shares of the oil and gas producer’s stock valued at $3,299,000 after purchasing an additional 28,303 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of National Fuel Gas in the first quarter valued at about $206,000. Hexagon Capital Partners LLC bought a new stake in National Fuel Gas during the first quarter worth about $28,000. State of Michigan Retirement System raised its holdings in National Fuel Gas by 2.7% during the first quarter. State of Michigan Retirement System now owns 22,612 shares of the oil and gas producer’s stock worth $1,215,000 after acquiring an additional 600 shares in the last quarter. Finally, IVC Wealth Advisors LLC boosted its position in National Fuel Gas by 25.9% during the first quarter. IVC Wealth Advisors LLC now owns 5,254 shares of the oil and gas producer’s stock valued at $282,000 after purchasing an additional 1,080 shares during the last quarter. 73.96% of the stock is currently owned by 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.