Investors looking for a promising buy-the-dip candidate after recent market volatility may want to consider National Fuel Gas Company (NFG). This utility stock has recently been added to the Zacks Rank #1 (Strong Buy) list, earning its spot as the Bull of the Day.
Strong Buy Overview
National Fuel is an integrated gas company with natural gas assets in the Appalachian Basin and oil-producing assets in California. The company’s operations include exploration and production, pipeline and storage, gathering, and utility and energy marketing.
While National Fuel stock is down 17% year to date, it may be undervalued considering its essential services and the strengthening prospects of the broader utility sector. Furthermore, NFG shares are still up 24% over the last three years, outperforming its industry and the S&P 500.
With its annual earnings forecasted to rebound and rise 11% in FY24, National Fuel shows respectable growth. Additionally, the company offers a dividend yield of 3.92%, surpassing its industry average and the S&P 500.
National Fuel is poised for a rebound and presents an intriguing opportunity for investors. Its undervalued stock, steady growth, and robust dividend have contributed to an impressive total return over the last few years.