National Fuel Gas Company (NFG) Stock: Price, Forecast & Analyst Target
National Fuel Gas Company (NFG) — MoonshotScore 72/100 (Strong band), calculated Oct 4, 2026. Price $76.43 (+0.22%), as of the Oct 2, 2026 trading session; market cap $7.26B. Expected results Nov 4, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 5.88× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Nov 4, 2026
National Fuel Gas Company · NFG · NYSE · Energy · Oil & Gas Integrated
Research dated 2026-09-13: National Fuel Gas combines gas production, gathering, interstate pipelines, storage and a customer utility within the same enterprise; it is not simply a conventional gas utility. Results will be shaped by whether upstream earnings and infrastructure cash generation can outrun heavy capital needs, debt and the lower realized pricing management expects.
Price as of Oct 2, 2026
Key Statistics
MoonshotScore v2 · National Fuel Gas Company (NFG)
StrongWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
High quality, a strong balance sheet and elite growth, with no real weak spot — fairly priced, so not a bargain entry. Business Quality: Solid; Financial Safety: Sound; Valuation: Full; Growth Durability: Compounding; Momentum: Slipping.
- quarterly revenue $537M (Q3 FY2026, quarter ended Jun 2026)
- EPS beat 6 of 8
- Altman Z 1.69 · Piotroski F 6
Helping: business quality, balance-sheet strength, durable growth
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 73 | Strong | |
| 73 | Strong | |
| 73 | Strong | |
| 73 | Strong | |
| 72 | Strong | |
| 72 | Strong |
The score was 72 in the stored Oct 3, 2026 snapshot and remains 72 in the current publication computed Oct 4, 2026 (0); the largest pillar moves were Momentum -1; the pillar moves offset under the sector-relative weighting, so the headline score is unchanged.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $76.43 | |
| Change on the day | +0.22% | |
| 52-week range | $75.03 – $97.06 | |
| Market capitalisation | $7.26B | |
| Price / earnings (trailing) | 10.54 | |
| Shares traded on the day | 1.08M | |
| Beta (volatility vs the S&P 500) | 0.38 | |
| Dividends per share (last 12 months) | $2.18 | |
| Dividend yield (last 12 months) | 2.85% |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · below the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings call · management outlook
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
Management outlook
Assuming the current forward curve for natural gas prices, we now expect earnings per share to grow between 7% and 10% per year on average through fiscal '29. More importantly, we expect to achieve this level of growth while also generating between $1 billion and $1.5 billion of free cash flow over the same period.
David Bauer · Statement from
That is a key piece of formalizing our fiscal 2027 guidance, which we plan to provide next quarter. In the Integrated Upstream and Gathering segment, we have a track record of capital efficiency improvements, which we expect to continue over the next several years.
Timothy Silverstein · Statement from
Chronological order, not a duration scale. Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.
Read management statementsOther perspectives
Council score for National Fuel Gas Company (NFG): perspectives
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
9-Factor Breakdown
Legends Council
6 lenses, 0 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Sep 11, 2026 · older than the 27 hours refresh window; not a current reading
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 11, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
On Sep 11, 2026, the Munger lens read the price at that time as undervalued against its own estimate of value.
Readings on this page are from Oct 5, 2026, except a card that shows its own read date.
Watch the NFG film — every key number, told as a short cinematic story
~2 min · open the film
What is National Fuel Gas Company (NFG), and what does it report?
Short answer · as of
National Fuel Gas produces natural gas and oil in Appalachia and California, gathers Appalachian gas, transports and stores gas through networks that include Empire Pipeline, and supplies or transports gas for customers in New York and Pennsylvania.
Research dated 2026-09-13.
National Fuel Gas produces natural gas and oil in Appalachia and California, gathers Appalachian gas, transports and stores gas through networks that include Empire Pipeline, and supplies or transports gas for customers in New York and Pennsylvania. Its infrastructure also serves utilities, industrial companies and power producers, while gathering operations serve affiliate Seneca Resources.
Reported revenue therefore blends commodity production, infrastructure services and utility sales, with intersegment eliminations removing transactions within the group. That mix makes consolidated revenue and profit sensitive to more than customer gas demand alone.
What do the latest results show for National Fuel Gas Company (NFG)?
Short answer · as of
The most recent reported quarter, Q3 FY2026, carried revenue of $537M.
Research dated 2026-09-13.
The latest period brought a sharp sequential retreat in revenue and reported profit after a much stronger preceding period. Against the comparable period, revenue was slightly higher while profit was lower; the earnings release nevertheless exceeded the earnings estimate while missing the revenue estimate.
Management describes the forward setup separately: hedges provide protection, but realized pricing is expected to decline, cash unit costs are expected to rise with inflation, and depreciation expense per unit is still normalizing. Longer-term expectations assume the prevailing natural-gas forward curve and continued capital-efficiency gains in upstream and gathering operations.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $537.50M Jun 30, 2026
- Latest quarter · FMP standardized operating result
- $208.94M Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $537.50M | Not available | Not available | $208.94M |
| Mar 31, 2026 | $858.37M | Not available | Not available | $347.13M |
| Dec 31, 2025 | $651.51M | Not available | Not available | $276.12M |
| Sep 30, 2025 | $456.41M | Not available | Not available | $179.76M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $537.50M Jul 29, 2026
- Latest report · revenue estimate
- $564.33M Jul 29, 2026
- Latest report · revenue vs estimate
- Below estimate Jul 29, 2026
- Latest report · EPS vs estimate
- Above estimate Jul 29, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Jul 29, 2026 | $537.50M | $564.33M | $1.5400 | $1.4400 |
| Apr 29, 2026 | $858.37M | $856.57M | $2.7100 | $2.8500 |
| Jan 28, 2026 | $651.51M | $653.76M | $2.0600 | $1.9100 |
| Nov 5, 2025 | $456.41M | $513.48M | $1.2200 | $1.1100 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q3 FY2026 | $537M | $139M | $1.45 (diluted) |
| Q2 FY2026 | $858M | $248M | $2.59 (diluted) |
| Q1 FY2026 | $652M | $182M | $1.98 (diluted) |
| Q4 FY2025 | $456M | $107M | $1.18 (diluted) |
What are the financial strengths and risks for National Fuel Gas Company (NFG)?
Short answer
Cash and short-term investments were $1.24B at the Jun 30, 2026 balance-sheet date. Operating cash flow was $377.26M for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-13.
Operating cash flow has exceeded capital spending in the latest reported periods, but that coverage was not consistent across the preceding periods. The business remains capital intensive, so the spread between operating cash generation and investment spending matters more than headline profit alone.
Liquidity rose dramatically in the latest balance-sheet period and current-liquidity ratios are strong, yet cash remains well below total debt. Healthy trailing margins and returns provide support, while leverage and lower expected realized pricing leave less room if upstream economics weaken as costs rise.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $377.26M Jun 30, 2026
- Previous quarter · operating cash flow
- $382.36M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $377.26M | −$266.25M |
| Mar 31, 2026 | $382.36M | −$220.64M |
| Dec 31, 2025 | $274.92M | −$277.63M |
| Sep 30, 2025 | $237.75M | −$285.50M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at National Fuel Gas Company (NFG)?
Short answer · as of
The next earnings report is expected on Nov 4, 2026.
Research dated 2026-09-13.
Formal guidance from management should clarify how lower realized pricing, hedge protection, inflation in cash costs and continued upstream efficiency fit together. The important operating check is whether earnings resilience comes from durable cost and production economics rather than temporary quarterly variation.
Cash conversion deserves equal attention. Watch whether operating cash flow continues to cover capital spending, whether the unusually large cash balance persists, and how the completed capital-markets activity flows through financing costs and leverage.
The scheduled earnings report also offers a clean test of recent execution: earnings have often surpassed expectations even when revenue fell short, so revenue quality, reported profit and cash generation should be read together.
What management is planning
Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.
Assuming the current forward curve for natural gas prices, we now expect earnings per share to grow between 7% and 10% per year on average through fiscal '29. More importantly, we expect to achieve this level of growth while also generating between $1 billion and $1.5 billion of free cash flow over the same period.
David Bauer ·
That is a key piece of formalizing our fiscal 2027 guidance, which we plan to provide next quarter. In the Integrated Upstream and Gathering segment, we have a track record of capital efficiency improvements, which we expect to continue over the next several years.
Timothy Silverstein ·
The strong hedge book provides meaningful protection, although we do expect realized pricing to be lower than fiscal 2026 levels. We also expect cash unit costs to move modestly higher with inflation, while per unit DD&A continues to normalize towards our expected long-term rate in the low to mid-$0.80 area.
Timothy Silverstein ·
Lastly, we will see the full impact of the capital markets activity completed during this fiscal year.
Timothy Silverstein ·
How does National Fuel Gas Company compare with its peers?
Short answer
National Fuel Gas Company's score ranks tied for 10th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-13.
Unlike a standalone producer, National Fuel Gas owns gathering, transmission and storage assets and also sells or transports gas through a customer utility. Unlike a conventional gas utility, it carries direct commodity exposure through exploration and production.
That integrated chain creates several distinct earnings mechanisms inside the same company: produced gas can feed gathering demand, Empire Pipeline and storage provide transportation services, and the utility serves end customers. Intersegment eliminations are therefore important when interpreting consolidated revenue, because activity within the chain is not the same as sales to outside customers.
| Company | Price | Market value | Score |
|---|---|---|---|
| $42.56 Oct 2, 2026 | $102B | 95 5-pillar Oct 4, 2026 | |
| $38.23 Oct 2, 2026 | $8.93B | 89 5-pillar Oct 4, 2026 | |
| $43.68 Oct 2, 2026 | $15.4B | 87 5-pillar Oct 4, 2026 | |
| $69.56 Oct 2, 2026 | $82.1B | 87 5-pillar Oct 4, 2026 | |
| $32.40 Oct 2, 2026 | $59.8B | 85 5-pillar Oct 4, 2026 | |
| $25.01 Oct 2, 2026 | $3.77B | 80 5-pillar Oct 4, 2026 | |
| $44.79 Oct 2, 2026 | $117B | 80 5-pillar Oct 4, 2026 | |
| $22.12 Oct 2, 2026 | $18.5B | 79 5-pillar Oct 4, 2026 | |
| $21.65 Oct 2, 2026 | $140B | 77 5-pillar Oct 4, 2026 | |
| National Fuel Gas Company (NFG) — this page | $76.43 | $7.26B | 72 |
| $125.68 Oct 2, 2026 | $61.6B | 72 5-pillar Oct 4, 2026 | |
| $16.60 Oct 2, 2026 | $34.1B | 71 5-pillar Oct 4, 2026 | |
| $20.36 Oct 2, 2026 | $9.66B | 67 5-pillar Oct 4, 2026 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $76.00 – $101.00
- Consensus target
- $88.50
- Median target
- $88.50
Consensus record · Captured .
Measured against a quoted price of $76.43 (as of Oct 2, 2026).
Insider activity
Form 4 records via FMP · Of the newest 60 records, those within the last 180 days, newest dated Oct 1, 2026
- Transactions
- 53
- Identified insiders
- 18
- Purchases
- 0
- Sales
- 0
- Other transactions
- 53
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Institutional ownership
- 85.8% Period end Jun 30, 2026
- Previous quarter · ownership
- 80.0% Prior to period end Jun 30, 2026
- Reporting holders
- 661 Period end Jun 30, 2026
- Previous quarter · holders
- 667 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Blackrock, INC. | 9,695,230 |
| Vanguard Portfolio Management LLC | 8,030,342 |
| Vanguard Capital Management LLC | 4,284,248 |
| State Street Corp | 4,198,608 |
| Energy Income Partners, LLC | 2,995,843 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about National Fuel Gas Company (NFG)?
What Investors Ask About National Fuel Gas Company (NFG) — Energy
Research dated 2026-09-13; the answers below are from that research, and the full attribution is under Sources. The last 3 questions are answered from this page's own dated data, not from the research.
What role does Empire Pipeline play inside National Fuel Gas?
Empire Pipeline sits within the pipeline and storage operation, carrying natural gas through the company’s network and serving customers beyond its affiliated utility. It gives National Fuel Gas an interstate transportation business alongside production and retail distribution.
Why can National Fuel Gas earnings behave differently from a conventional gas utility?
Exploration and production expose earnings to commodity pricing and upstream costs, while gathering, pipeline, storage and utility operations measure demand through different activities. Consolidated results therefore reflect both gas economics and infrastructure or customer service.
Does National Fuel Gas generate enough operating cash to fund its capital program?
Recent operating cash flow has covered capital spending, but earlier periods show that coverage can reverse. Continued positive cash after capital investment is important because the company also carries substantial debt.
How does National Fuel Gas hedge book affect lower gas pricing?
Management says the hedge book provides meaningful protection, but it does not eliminate the expected decline in realized pricing. Upstream performance will also depend on whether capital-efficiency gains can offset inflation in cash costs and normalizing depreciation expense.
What is the NFG stock price today?
The last price recorded on this page for National Fuel Gas Company (NFG) is $76.43, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the NFG price target?
The analyst consensus price target for National Fuel Gas Company (NFG) is $88.50 (range $76.00 to $101.00, median $88.50), per FMP data captured Oct 4, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
Does NFG pay a dividend?
Yes. National Fuel Gas Company (NFG) shows a trailing 12-month dividend yield of 2.85%, as of Oct 2, 2026, in the data on this page. Payout ratio and cash-flow coverage decide whether it can last, and past dividends do not guarantee future payments.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-13. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (77 figures)
The 77 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 2 facts from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
prod.outlook | Management outlook — call excerpts | David Bauer (Jul 30, 2026): Assuming the current forward curve for natural gas prices, we now expect earnings per share to grow between 7% and 10% per year on average through fiscal '29. More importantly, we expect to achieve this level of growth while also generating between $1 billion and $1.5 billion of free cash flow over the same period. Timothy Silverstein (Jul 30, 2026): That is a key piece of formalizing our fiscal 2027 guidance, which we plan to provide next quarter. In the Integrated Upstream and Gathering segment, we have a track record of capital efficiency improvements, which we expect to continue over the next several years. Timothy Silverstein (Jul 30, 2026): The strong hedge book provides meaningful protection, although we do expect realized pricing to be lower than fiscal 2026 levels. We also expect cash unit costs to move modestly higher with inflation, while per unit DD&A continues to normalize towards our expected long-term rate in the low to mid-$0.80 area. Timothy Silverstein (Jul 30, 2026): Lastly, we will see the full impact of the capital markets activity completed during this fiscal year. | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | |
id.hq | SEC filing business address | Williamsville, NY | OFFICIAL | SEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "6363 Main Street, Williamsville, NY, 14221, US". |
FMP — 65 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Nov 4, 2026 | FMP | Financial Modeling Prep (FMP) earnings calendar — The date is our provider's estimate until the company confirms it. | |
px.last | Latest provided price | $76.43 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-04T21:04:47.759Z. | |
px.change | Change on the day | +0.22% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $7.26B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:02.000Z. Captured from FMP at 2026-10-04T21:04:46.469Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | +$0.17 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q3 FY2026 | $537M | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.pe | Price / earnings (trailing) | 10.54 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 1.08M | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 0.38 | FMP | Financial Modeling Prep (FMP) company profile | |
id.ceo | Chief executive | David Bauer | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 2,322 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $1.74B, net result $363.65M; FY2022 revenue $2.19B, net result $566.02M; FY2023 revenue $2.17B, net result $476.87M; FY2024 revenue $1.94B, net result $77.51M; FY2025 revenue $2.28B, net result $518.50M | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Utility $817.63M · Pipeline And Storage $427.60M · Intersegment Eliminations $151.82M | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 49.0% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $537.50M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | $208.94M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $858.37M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | $347.13M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $651.51M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | $276.12M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $456.41M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | $179.76M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-07-29.revenue_actual | Revenue · reported — report date 2026-07-29 | $537.50M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-29.revenue_estimated | Revenue · estimate — report date 2026-07-29 | $564.33M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-29.eps_actual | EPS · reported — report date 2026-07-29 | $1.5400 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-29.eps_estimated | EPS · estimate — report date 2026-07-29 | $1.4400 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-29.revenue_actual | Revenue · reported — report date 2026-04-29 | $858.37M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-29.revenue_estimated | Revenue · estimate — report date 2026-04-29 | $856.57M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-29.eps_actual | EPS · reported — report date 2026-04-29 | $2.7100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-29.eps_estimated | EPS · estimate — report date 2026-04-29 | $2.8500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-01-28.revenue_actual | Revenue · reported — report date 2026-01-28 | $651.51M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-01-28.revenue_estimated | Revenue · estimate — report date 2026-01-28 | $653.76M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-01-28.eps_actual | EPS · reported — report date 2026-01-28 | $2.0600 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-01-28.eps_estimated | EPS · estimate — report date 2026-01-28 | $1.9100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-05.revenue_actual | Revenue · reported — report date 2025-11-05 | $456.41M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-05.revenue_estimated | Revenue · estimate — report date 2025-11-05 | $513.48M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-05.eps_actual | EPS · reported — report date 2025-11-05 | $1.2200 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-05.eps_estimated | EPS · estimate — report date 2025-11-05 | $1.1100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q3 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $1.24B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $377.26M | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $66.95M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $3.57B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 1.83× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $377.26M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | $382.36M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$266.25M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$220.64M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $274.92M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$277.63M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | $237.75M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$285.50M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $76.00 – $101.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $88.50 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $88.50 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 53 transactions · 0 purchases, 0 sales, 53 other transactions · 18 identified insiders · of the newest 60 records, those within the last 180 days, newest dated Oct 1, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.ownership_pct | Institutional ownership | 85.8% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.ownership_pct_previous_quarter | Previous quarter · ownership | 80.0% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.institutions.depth.holders | Reporting holders | 661 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 667 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Blackrock, INC. — shares in provider snapshot | 9,695,230 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | Vanguard Portfolio Management LLC — shares in provider snapshot | 8,030,342 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | Vanguard Capital Management LLC — shares in provider snapshot | 4,284,248 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | State Street Corp — shares in provider snapshot | 4,198,608 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Energy Income Partners, LLC — shares in provider snapshot | 2,995,843 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 3 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.history | Reported versus estimated, recent quarters | EPS beat 6 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-10-04 | |
fin.scores | Distress and quality screens | Altman Z 1.69 · Piotroski F 6 | UNRECORDED | Stored financial-scores observation — Captured 2026-10-04 | |
px.range52 | 52-week range | $75.03 – $97.06 | UNRECORDED | Stored company-profile observation — Captured 2026-10-04 |
COMPUTED — 5 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 5.88× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $1.24B at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
div.ttm_per_share | Dividends per share, last 12 months (split-adjusted) | $2.18 | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history — Sum of 4 split-adjusted declared dividends with an ex-date in the 365 days to 2026-10-04, per current share. Ex-dates are not payment dates; special dividends are included. Not a declared annual rate. | |
div.ttm_yield | Dividend yield, last 12 months | 2.85% | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history and quote — Split-adjusted dividends with ex-dates in the trailing 365-day window divided by the packet price, on the same current-share basis. Price date follows the quote, latest price bar or packet-build day when unstamped. Not a forecast or declared annual rate. | |
earn.history.depth.2026-07-29.revenue_actual.comparison | Latest report · revenue vs estimate | Below estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($537.50M) with the recorded estimate ($564.33M) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-07-29.eps_actual.comparison | Latest report · EPS vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($1.5400) with the recorded estimate ($1.4400) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 2 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 72 of 100 · Strong · pillars 74 / 70 / 58 / 93 / 35 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.moonshot_change | MoonshotScore movement | 72 (stored snapshot Oct 3, 2026) → 72 (current publication computed Oct 4, 2026) (0) | OURS | Stock Expert AI current score publication and immutable score snapshots |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-07-29. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-07-29.revenue_actual,earn.history.depth.2026-07-29.revenue_estimated,earn.history.depth.2026-07-29.revenue_actual.comparison,earn.history.depth.2026-07-29.eps_actual.comparison,earn.history.depth.2026-07-29.eps_actual,earn.history.depth.2026-07-29.eps_estimated,earn.history.depth.2026-04-29.revenue_actual,earn.history.depth.2026-04-29.revenue_estimated,earn.history.depth.2026-04-29.eps_actual,earn.history.depth.2026-04-29.eps_estimated,earn.history.depth.2026-01-28.revenue_actual,earn.history.depth.2026-01-28.revenue_estimated,earn.history.depth.2026-01-28.eps_actual,earn.history.depth.2026-01-28.eps_estimated,earn.history.depth.2025-11-05.revenue_actual,earn.history.depth.2025-11-05.revenue_estimated,earn.history.depth.2025-11-05.eps_actual,earn.history.depth.2025-11-05.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
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Sources used for research written 2026-09-13
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Legal name | NATIONAL FUEL GAS CO Our market-data provider lists the name as "National Fuel Gas Company"; the filer's own record is used here. | 2025-11-21 | OFFICIAL | SEC EDGAR — 10-K filed 2025-11-21 |
| Business description | National Fuel Gas Company (NFG) operates as a multifaceted energy enterprise, with its business structured across four primary divisions: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production (E&P) division is dedicated to discovering, developing, and producing natural gas and oil. Its operations are concentrated in California and the Appalachian region of the United States. As of September 30, 2021, this segment reported substantial proved developed and undeveloped reserves, comprising 21,537 thousand barrels of oil and 3,723,433 million cubic feet of natural gas. NFG's Pipeline and Storage arm manages interstate natural gas transmission and storage services. This involves an integrated pipeline network spanning Pennsylvania and New York, alongside the operation of underground natural gas storage facilities. Beyond transporting natural gas for National Fuel Gas Distribution Corporation, this segment also provides services to various other utilities, industrial companies, and power producers throughout New York State. It notably owns and operates the Empire Pipeline. The Gathering segment focuses on the construction, ownership, and operation of natural gas processing and pipeline gathering infrastructure, primarily located in the Appalachian region. It also extends gathering services to Seneca Resources Company, LLC. The Utility division supplies natural gas or offers natural gas transportation services to approximately 753,000 customers. These customers are situated in Buffalo, Niagara Falls, and Jamestown, New York, as well as Erie and Sharon, Pennsylvania. The company actively markets natural gas to a broad spectrum of clients, including industrial, wholesale, commercial, public authority, and residential customers, predominantly within western and central New York and northwestern Pennsylvania. Beyond its core energy operations, as of September 30, 2021, NFG also held significant timber assets, comprising approximately 95,000 acres of owned timber property and management rights for an additional 2,500 acres of timber. National Fuel Gas Company was established in 1902 and its corporate headquarters are situated in Williamsville, New York. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Utility: $817.63M; Pipeline And Storage: $427.60M; Intersegment Eliminations: $151.82M | 2025-09-30 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Cash, investments and debt | Total debt: $3.57B; Liquidity basis: cash and short-term investments; Total liabilities: $6.53B; Cash and short-term investments: $1.24B; Cash and investments: $1.30B; Long-term investments: $66.95M; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Management outlook — dated call excerpts | Captured record · 4 entries
Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | 2026-07-30 | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2025-09-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-07-29 | FMP | Financial Modeling Prep (FMP) earnings |
| Recent SEC filings |
| 2026-08-11 | OFFICIAL | SEC EDGAR filer submissions |
| Most recent periodic reports | 2026-07-30 | OFFICIAL | SEC EDGAR filer submissions | |
| Cash and investment components | Total basis: cash short and long-term investments; Total: $1.30B; Cash and short-term investments: $1.24B; Long-term investments: $66.90M; Long-term investments classification: unclassified Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures. | 2026-06-30 | COMPUTED | Computed from the balance sheet |
| Cash and short-term investments over time (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's quarterly balance sheets |
| Cash against market value | As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: -$2.33B; Total debt: $3.57B; Cash and investments: $1.24B Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them. | 2026-06-30 | COMPUTED | Computed from the balance sheet and the latest market capitalization |
| Trailing twelve-month ratio set | Quick ratio: 3.07; Current ratio: 3.2; Debt to equity: 0.91; Net margin: 27%; Gross margin: 49%; Operating margin: 40.4%; Return on assets: 6.5%; Return on equity: 18.7% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Next earnings report | Date: 2026-11-04; EPS estimate: $1.08 per share; Revenue estimate: $474.77M The date is our provider's estimate until the company confirms it. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) earnings calendar |
| Sector / industry (provider taxonomy) | Energy / Oil & Gas Integrated The company's SEC filings classify it under SIC 4924 — Natural Gas Distribution. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) company profile |
Data provided for informational purposes only.
ETFs that hold NFG
Funds in our ETF coverage that list NFG among the top 10 holdings on their fund page, largest weight first. Each weight is the fund's reported holding weight as of the date in its row.
| ETF | Weight | Holdings as of |
|---|---|---|
| FT Energy Income Partners Enhanced Income ETF (EIPI) | 2.60% |