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.

See our leaderboard of companies with the largest price target upside.

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:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K

This article originally appeared on Fintel

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