Gas Natural Given New $11.00 Price Target at Wunderlich (EGAS)
Investment analysts at Wunderlich upped their price objective on shares of Gas Natural (NASDAQ:EGAS) from $10.50 to $11.00 in a note issued to investors on Monday. The firm currently has a “hold” rating on the stock. Wunderlich’s price objective would indicate a potential upside of 7.11% from the stock’s previous close.
The analysts wrote, “We are increasing our estimates and price target for Gas Natural (EGAS) to reflect moderately better customer growth trends than previously expected, partially offset by higher recurring parent company expenses and lower gross margin from Marketing and Production. Earnings from potential bolt-on LDC acquisitions represent potential for upside relative to our current forecast, but visibility around such opportunities remains low. “While the shares will trade at a discount to reflect above-average regulatory risk until PUCO’s investigation is closed, we are increasing our price target to $11 to reflect favorable trends in the utility group, in addition to continued progress in restoring credibility with regulators.”
Shares of Gas Natural (NASDAQ:EGAS) traded down 0.98% during mid-day trading on Monday, hitting $10.169. The stock had a trading volume of 15,041 shares. Gas Natural has a 52 week low of $7.49 and a 52 week high of $11.35. The stock’s 50-day moving average is $10.56 and its 200-day moving average is $9.57. The company has a market cap of $106.6 million and a price-to-earnings ratio of 14.80.
Gas Natural (NASDAQ:EGAS) last released its earnings data on Thursday, May 15th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.07. The company had revenue of $60.00 million for the quarter, compared to the consensus estimate of $39.90 million. Analysts expect that Gas Natural will post $0.70 EPS for the current fiscal year.
The company also recently declared a may 14 dividend, which is scheduled for Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.045 per share. This represents a yield of 4.91%. The ex-dividend date of this dividend is Tuesday, May 13th.
A number of other analysts have also recently weighed in on EGAS. Analysts at TheStreet upgraded shares of Gas Natural from a “hold” rating to a “buy” rating in a research note on Monday, April 21st. Analysts at Zacks upgraded shares of Gas Natural from a “neutral” rating to an “outperform” rating in a research note on Friday, April 11th. They now have a $11.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Gas Natural currently has a consensus rating of “Hold” and a consensus target price of $11.00.
Gas Natural Inc is a natural gas company, primarily operating local distribution companies in six states and serving approximately 70,000 customers.
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