National Fuel Gas (NFG)
Utilities · Natural gas utilities and pipelines
An integrated natural gas producer, transporter, and distributor operating across the Appalachian Basin with expanding regulated utility operations in the Northeast and Ohio.
What National Fuel Gas does
National Fuel Gas is a diversified energy company engaged in the production, gathering, transportation, storage, and distribution of natural gas. The company operates an integrated business with assets centered in western New York and Pennsylvania, utilizing a common geographic footprint to serve markets in the eastern United States and Canada. The company reports three business segments: production, pipeline and storage (transportation), and utility distribution, with ongoing modernization of regulated assets and expansion projects in the Appalachian Basin.
Themes: ["natural gas infrastructure"]
Fundamentals
- Price$79.02 as of 2026-07-09 close
- Market cap$7.5B as of 2026-07-10
- 1-year return-3.9% as of 2026-07-09 close
- P/E10.86 as of 2026-07-10
- Net margin+15.9% as of 2026-07-10
- Gross margin+57.8% as of 2026-07-10
- ROE+20.4% as of 2026-07-10
- Debt / equity0.63 as of 2026-07-10
- Revenue growth (YoY)+108.8% as of 2026-07-10
- Revenue CAGR (3y)+1.4% SEC XBRL
- Beta0.40 as of 2026-07-10
Dividend: yield +2.8%; 3-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Regulatory risk: Dependency on rate case proceedings with multiple state and federal regulators (NYPSC, PaPUC, FERC) that may not approve requested rate increases or may impose unfavorable terms; Supply Corporation filing seeks $95 million increase from 2023 settlement baseline."]
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.