National Fuel Gas Co. (NYSE:NFG) Expected to Announce Quarterly Sales of $529.29 Million

Wall Street brokerages expect that National Fuel Gas Co. (NYSE:NFG) will announce sales of $529.29 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for National Fuel Gas’ earnings. The lowest sales estimate is $501.80 million and the highest is $556.77 million. National Fuel Gas posted sales of $490.25 million during the same quarter last year, which suggests a positive year over year growth rate of 8%. The company is scheduled to announce its next quarterly earnings report on Thursday, January 30th.

On average, analysts expect that National Fuel Gas will report full year sales of $1.86 billion for the current financial year, with estimates ranging from $1.76 billion to $1.96 billion. For the next year, analysts forecast that the business will post sales of $1.83 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow National Fuel Gas.

National Fuel Gas (NYSE:NFG) last posted its earnings results on Thursday, October 31st. The oil and gas producer reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $293.34 million during the quarter, compared to analysts’ expectations of $336.30 million. National Fuel Gas had a return on equity of 14.40% and a net margin of 17.97%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share.

Several research firms recently weighed in on NFG. ValuEngine upgraded National Fuel Gas from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upgraded National Fuel Gas from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Tuesday, October 15th. Finally, Citigroup reduced their price objective on National Fuel Gas from $61.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $47.00.

Hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC grew its holdings in National Fuel Gas by 1.0% during the second quarter. LPL Financial LLC now owns 27,141 shares of the oil and gas producer’s stock worth $1,432,000 after acquiring an additional 257 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in National Fuel Gas by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 15,950 shares of the oil and gas producer’s stock worth $841,000 after acquiring an additional 280 shares during the period. Profund Advisors LLC grew its holdings in National Fuel Gas by 2.1% during the second quarter. Profund Advisors LLC now owns 14,259 shares of the oil and gas producer’s stock worth $752,000 after acquiring an additional 290 shares during the period. Moody National Bank Trust Division grew its holdings in National Fuel Gas by 4.4% during the third quarter. Moody National Bank Trust Division now owns 7,205 shares of the oil and gas producer’s stock worth $338,000 after acquiring an additional 305 shares during the period. Finally, California State Teachers Retirement System grew its holdings in National Fuel Gas by 0.3% during the third quarter. California State Teachers Retirement System now owns 130,378 shares of the oil and gas producer’s stock worth $6,117,000 after acquiring an additional 355 shares during the period. Institutional investors own 73.12% of the company’s stock.

NFG stock opened at $45.83 on Wednesday. The business has a 50 day moving average price of $45.57 and a 200 day moving average price of $48.51. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 13.28 and a beta of 0.73. National Fuel Gas has a fifty-two week low of $42.98 and a fifty-two week high of $61.71. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.00.

National Fuel Gas Company Profile

National Fuel Gas Company operates as a diversified energy company. It operates through 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 in California and in the Appalachian region of the United States.

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Earnings History and Estimates for National Fuel Gas (NYSE:NFG)

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