National Fuel Gas (NYSE:NFG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Shares of National Fuel Gas have outperformed its industry over the past six months. The company’s fourth-quarter earnings were lower than expected due to less than anticipated natural gas realized prices. The company’s systematic capital expenditure helped it to strengthen operation and production in the Appalachian region. It is expanding its midstream operation to provide support by transporting and storing higher volume of natural gas. The company has a long history of rewarding its shareholders through dividend payments. However, adherence to stringent regulation relating to natural gas drilling, fluctuation in natural gas prices, weather variation in its service territories and competitive natural gas are headwinds. In addition, the rising interest rates will increase the cost of the ongoing capital projects, impacting margins.”

NFG has been the topic of a number of other research reports. ValuEngine lowered shares of National Fuel Gas from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. TheStreet downgraded shares of National Fuel Gas from a “b” rating to a “c+” rating in a research report on Friday, November 2nd. Finally, US Capital Advisors reaffirmed an “overweight” rating on shares of National Fuel Gas in a research report on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $61.60.

Shares of National Fuel Gas stock opened at $54.18 on Wednesday. The stock has a market capitalization of $4.65 billion, a PE ratio of 16.22, a P/E/G ratio of 3.28 and a beta of 0.75. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 1.10. National Fuel Gas has a 1 year low of $48.31 and a 1 year high of $59.90.

National Fuel Gas (NYSE:NFG) last issued its earnings results on Thursday, November 1st. The oil and gas producer reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The company had revenue of $289.20 million during the quarter, compared to analyst estimates of $316.56 million. National Fuel Gas had a net margin of 24.58% and a return on equity of 15.11%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. Sell-side analysts forecast that National Fuel Gas will post 3.44 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc bought a new stake in shares of National Fuel Gas during the 2nd quarter valued at about $137,000. Captrust Financial Advisors grew its position in shares of National Fuel Gas by 49.0% during the 2nd quarter. Captrust Financial Advisors now owns 3,018 shares of the oil and gas producer’s stock valued at $161,000 after buying an additional 993 shares during the last quarter. IFP Advisors Inc grew its position in shares of National Fuel Gas by 80.1% during the 3rd quarter. IFP Advisors Inc now owns 3,046 shares of the oil and gas producer’s stock valued at $171,000 after buying an additional 1,355 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of National Fuel Gas during the 3rd quarter valued at about $172,000. Finally, Dupont Capital Management Corp bought a new position in National Fuel Gas in the 3rd quarter worth about $185,000. 71.95% 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. The company operates in 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 reserves in California in the Appalachian region of the United States.

See Also: Intrinsic Value

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Analyst Recommendations for National Fuel Gas (NYSE:NFG)

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