National Fuel Gas Company: Raising target price to $50

National Fuel is an integrated energy company with approximately $7.1 billion in assets. The regulated gas utility operation distributes and transports gas to more than 1 million customers in northwestern Pennsylvania and western New York. The E&P segment, Seneca Resources, produces crude oil and natural gas in California and Appalachia. The Pipeline & Storage segment owns and operates natural gas pipelines running from Pennsylvania through western New York to the Canadian border near Buffalo. The company has 2,100 employees.