National Fuel Gas (NYSE:NFG) Releases Earnings Results, Beats Expectations By $0.38 EPS

National Fuel Gas (NYSE:NFG) issued its earnings results on Wednesday. The oil and gas producer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.38, Briefing.com reports. The business had revenue of $629.94 million for the quarter, compared to analyst estimates of $767.33 million. National Fuel Gas had a net margin of 21.58% and a return on equity of 14.81%. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.54 EPS. National Fuel Gas updated its FY24 guidance to $4.90-5.20 EPS and its FY 2024 guidance to 4.750-5.050 EPS.

National Fuel Gas Stock Performance

Shares of NYSE:NFG traded up $1.78 during trading on Thursday, reaching $54.72. 689,755 shares of the company’s stock traded hands, compared to its average volume of 580,081. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.56 and a quick ratio of 0.47. National Fuel Gas has a 12 month low of $45.32 and a 12 month high of $55.99. The company has a 50 day moving average of $52.06 and a 200-day moving average of $50.85. The stock has a market capitalization of $5.04 billion, a P/E ratio of 11.10 and a beta of 0.63.

National Fuel Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Wednesday, March 27th. National Fuel Gas’s dividend payout ratio is presently 41.51%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NFG shares. StockNews.com raised shares of National Fuel Gas from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Scotiabank boosted their price objective on shares of National Fuel Gas from $67.00 to $72.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th.

National Fuel Gas Company Profile

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.