National Fuel Gas (NFG)
Connects Appalachian gas production with gathering, interstate infrastructure and local utility delivery.
Something off on this page? Send us feedback.
Produces and gathers Appalachian natural gas, transports and stores it interstate, and distributes it through a local utility. Its mix spans commodity-linked upstream operations and regulated infrastructure.
Seneca Resources produces natural gas in the Appalachian basin, and National Fuel Gas Midstream gathers that production. Pipeline and Storage moves gas interstate and operates storage assets, while the Utility distributes gas locally under one corporate group.
Operations are concentrated in Appalachia and Western New York, linking upstream wells, gathering systems, pipelines, storage and customer delivery. The company is pursuing a pending acquisition of CenterPoint's Ohio natural-gas utility.
The business combines commodity-linked production and gathering with interstate infrastructure and regulated utility activity. The Ohio acquisition remains subject to regulatory and customary closing conditions.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jan 21, 2026 | Scotiabank | Target | Target: $106 | Target: $101 |
| Oct 9, 2025 | Scotiabank | Downgrade | Target: — | Target: $106 |
| Jul 15, 2025 | B of A Securities | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.24B · Total debt $3.57B · Total assets $10.45B · Shareholders' equity $3.92B
- Revenue
- $537.5M
- Operating income
- $208.9M
- Net income
- $138.6M
HistoryDividendAnnual yieldUpcoming
| Institutions | 84.63% | 80.44M shares | |
|---|---|---|---|
| 661 holders · as of Jun 30, 2026 | |||
| Insiders | 0.94% | 895.1K shares | |
| 18 holders · as of Sep 17, 2026 | |||
| Other | 14.43% | 13.71M shares | |
| remainder | |||
95.05M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 10.20% | 9.70M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 8.45% | 8.03M | as of Jun 30, 2026 |
Capital Management, LLCInstitution | 5.97% | 5.68M | filed Feb 4, 2019 |
Vanguard Capital Management LLCInstitution | 4.51% | 4.28M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.42% | 4.20M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- EQT
Appalachian gas production, gathering, and transmission overlap.
- Range Resources
Marcellus natural-gas production overlap in Pennsylvania.
- Williams
Northeast gas gathering plus interstate pipeline and storage overlap.
- Antero Resources
Appalachian shale gas development overlap in Ohio and West Virginia.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| National Fuel Gas | $80.04 | +0.05% | $7.60B | 11.1 | 10.8 | 3.0 | +1.1% |
| EQT | $50.28 | +0.29% | $31.36B | 11.0 | 15.3 | 3.4 | −29.2% |
| Range Resources | $38.34 | +1.37% | $8.84B | 10.4 | 10.5 | 2.7 | +19.1% |
| Williams | $71.72 | +0.10% | $87.64B | 28.4 | 29.9 | 7.2 | +10.2% |
| Antero Resources | $34.43 | +1.38% | $10.44B | 9.8 | 8.1 | 1.9 | +29.6% |
| Median | 10.7 | 12.9 | 3.0 | +14.7% |