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

National Fuel Gas (NYSE:NFG) had its target price hoisted by stock analysts at Scotiabank from $75.00 to $80.00 in a report released on Friday, Benzinga reports. The firm presently has a “sector outperform” rating on the oil and gas producer’s stock. Scotiabank’s price objective indicates a potential upside of 40.80% from the stock’s current price.

Separately, StockNews.com raised National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th.

National Fuel Gas Trading Up 2.0 %

Shares of National Fuel Gas stock opened at $56.82 on Friday. The firm’s 50 day moving average is $55.52 and its 200 day moving average is $52.31. The firm has a market capitalization of $5.22 billion, a PE ratio of 11.27 and a beta of 0.62. National Fuel Gas has a 1 year low of $45.32 and a 1 year high of $57.60. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.72.

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

Insider Activity at National Fuel Gas

In other National Fuel Gas news, General Counsel Michael W. Reville sold 6,357 shares of National Fuel Gas 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 directly owns 9,903 shares of the company’s stock, valued at approximately $542,981.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On National Fuel Gas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Beacon Capital Management LLC bought a new position in National Fuel Gas during the 1st quarter worth approximately $27,000. Hexagon Capital Partners LLC acquired a new position in National Fuel Gas in the first quarter valued at $28,000. Blue Trust Inc. boosted its position in National Fuel Gas by 119.8% during the fourth quarter. Blue Trust Inc. now owns 567 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 309 shares during the last quarter. Quent Capital LLC grew its holdings in National Fuel Gas by 166.4% during the 4th quarter. Quent Capital LLC now owns 690 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 431 shares during the period. Finally, Lindbrook Capital LLC raised its position in shares of National Fuel Gas by 123.0% in the 1st quarter. Lindbrook Capital LLC now owns 767 shares of the oil and gas producer’s stock worth $41,000 after acquiring an additional 423 shares in the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

About National Fuel Gas

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.