National Fuel Gas Upgraded to Hold by Zacks Research

Analysts cite improved outlook for the natural gas company's operations.

Mar. 11, 2026 at 11:38am

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Zacks Research has upgraded shares of National Fuel Gas (NYSE:NFG) from a "strong sell" rating to a "hold" rating in a new research note. The analysts cited an improved outlook for the company's natural gas exploration, production, and distribution operations.

Why it matters

National Fuel Gas is a major player in the Appalachian Basin's natural gas industry, with operations spanning upstream development, regional pipelines, storage facilities, and regulated utility distribution. The upgrade by Zacks Research suggests the company's performance and prospects have improved, which could impact its stock price and the broader natural gas market.

The details

In the research note, Zacks analysts noted that several other equity research firms have also recently weighed in on National Fuel Gas, with a mix of "Buy" and "Hold" ratings. The company's stock has traded in a range of $69.93 to $94.13 over the past 52 weeks.

  • National Fuel Gas reported its latest quarterly earnings on January 28, 2026.
  • Zacks Research issued the upgrade on March 11, 2026.

The players

National Fuel Gas

A diversified energy company engaged primarily in the production, gathering, transmission, distribution, and marketing of natural gas. The company operates in the Appalachian Basin, with a focus on the Marcellus and Utica shale formations.

Zacks Research

An equity research firm that provides investment research, analysis, and recommendations to its clients.

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What they’re saying

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— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

The takeaway

The upgrade of National Fuel Gas by Zacks Research suggests the company's operations and outlook have improved, which could positively impact its stock price and the broader natural gas industry in the Appalachian Basin region.