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National Fuel Gas Co (NFG)
Natural Gas Distribution
Latest Price
$75.86
TTM P/E
10.54
Normalized P/E
15.10
Div Yield
2.85%
Book Value
41.29
P/B Ratio
1.84
Valuation metrics
adjust assumptions →Norm. op. income: $640M (median of 7yr)
Tax rate: 23%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$23.70
69% downside
Base FCF: $135M (median of recent 5yr)
Growth: 25%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$80.07
+6% upside
EPS: $5.68
Target P/E: 15×
Formula: EPS × P/E
P/E Fair Value
$85.20
+12% upside
Institutional Ownership
79.8% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| BlackRock, Inc. | 9.70M | $748.0M | 10.20% | +538.7K | 2026-06-30 |
| Vanguard Portfolio Management LLC | 8.03M | $620.0M | 8.45% | +206.9K | 2026-06-30 |
| Vanguard Capital Management LLC | 4.28M | $330.0M | 4.51% | +37.3K | 2026-06-30 |
| State Street Corp | 4.20M | $326.0M | 4.42% | +328.0K | 2026-06-30 |
| Energy Income Partners, LLC | 3.00M | $231.0M | 3.15% | +406.0K | 2026-06-30 |
| Lsv Asset Management | 2.36M | $182.0M | 2.48% | +130.4K | 2026-06-30 |
| Price T Rowe Associates Inc | 2.36M | $182.0M | 2.48% | -509.6K | 2026-06-30 |
| AQR Capital Management LLC | 1.97M | $152.0M | 2.07% | +767.9K | 2026-06-30 |
| Geode Capital Management, LLC | 1.96M | $151.0M | 2.07% | +20.8K | 2026-06-30 |
| Yaupon Capital Management LP | 1.86M | $143.0M | 1.96% | +816.3K | 2026-06-30 |