National Fuel Gas Company, the Energy sector company, was revisited by a Wall Street analyst yesterday. Analyst Kalei Akamine from Bank of America Securities maintained a Buy rating on the stock and has a $105.00 price target.
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Kalei Akamine has given his Buy rating due to a combination of factors that highlight National Fuel Gas Company’s strong operational performance and growth potential. The company reported adjusted earnings per share that surpassed consensus estimates, driven by higher production volumes and significant cash flow, which exceeded expectations due to deferred tax benefits. This robust financial performance indicates a solid foundation for future growth.
Additionally, the company’s exploration in the Upper Utica region has added 220 new locations, extending its inventory life and maximizing net present value per acre. The strategic expansion of its firm transport portfolio to 1.5 billion cubic feet per day by 2029 further supports its long-term growth plans. These developments, combined with the company’s ability to leverage existing infrastructure and maintain a stable financial outlook, underpin Akamine’s positive outlook and Buy rating for National Fuel Gas Company.
Akamine covers the Energy sector, focusing on stocks such as California Resources Corp, EQT, and National Fuel Gas Company. According to TipRanks, Akamine has an average return of -4.5% and a 35.29% success rate on recommended stocks.
In another report released on October 21, TR | OpenAI – 4o also upgraded the stock to a Buy with a $96.00 price target.