Fintel reports that on May 24, 2023, Goldman Sachs maintained coverage of National Fuel Gas (NYSE:NFG) with a Neutral recommendation.
Analyst Price Forecast Suggests 31.42% Upside
As of May 11, 2023, the average one-year price target for National Fuel Gas is 68.34. The forecasts range from a low of 60.60 to a high of $80.85. The average price target represents an increase of 31.42% from its latest reported closing price of 52.00.
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The projected annual revenue for National Fuel Gas is 2,499MM, an increase of 8.00%. The projected annual non-GAAP EPS is 6.98.
National Fuel Gas Declares $0.48 Dividend
On March 9, 2023 the company declared a regular quarterly dividend of $0.48 per share ($1.90 annualized). Shareholders of record as of March 31, 2023 received the payment on April 14, 2023. Previously, the company paid $0.48 per share.
At the current share price of $52.00 / share, the stock’s dividend yield is 3.65%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.43%, the lowest has been 2.46%, and the highest has been 5.26%. The standard deviation of yields is 0.56 (n=237).
The current dividend yield is 0.40 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.30. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.09%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 952 funds or institutions reporting positions in National Fuel Gas. This is a decrease of 29 owner(s) or 2.96% in the last quarter. Average portfolio weight of all funds dedicated to NFG is 0.28%, an increase of 0.15%. Total shares owned by institutions decreased in the last three months by 0.81% to 80,640K shares. The put/call ratio of NFG is 0.76, indicating a bullish outlook.
What are Other Shareholders Doing?
SDY – SPDR(R) S&P(R) Dividend ETF holds 3,476K shares representing 3.79% ownership of the company. In it’s prior filing, the firm reported owning 3,397K shares, representing an increase of 2.29%. The firm decreased its portfolio allocation in NFG by 9.75% over the last quarter.
IJH – iShares Core S&P Mid-Cap ETF holds 2,832K shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 2,825K shares, representing an increase of 0.24%. The firm decreased its portfolio allocation in NFG by 12.48% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,776K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 2,722K shares, representing an increase of 1.97%. The firm decreased its portfolio allocation in NFG by 3.12% over the last quarter.
Jpmorgan Chase holds 2,556K shares representing 2.78% ownership of the company. In it’s prior filing, the firm reported owning 2,582K shares, representing a decrease of 1.00%. The firm decreased its portfolio allocation in NFG by 16.54% over the last quarter.
Gabelli Funds holds 2,432K shares representing 2.65% ownership of the company. In it’s prior filing, the firm reported owning 2,418K shares, representing an increase of 0.56%. The firm decreased its portfolio allocation in NFG by 10.54% over the last quarter.
National Fuel Gas Background Information
(This description is provided by the company.)
National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas and oil assets across four business segments: Exploration & Production, Pipeline & Storage, Gathering, and Utility.
Key filings for this company:
This article originally appeared on Fintel
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