Engineers Gate Manager LP Sells 10,677 Shares of National Fuel Gas Company $NFG

Engineers Gate Manager LP trimmed its holdings in shares of National Fuel Gas Company (NYSE:NFG) by 11.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 85,524 shares of the oil and gas producer’s stock after selling 10,677 shares during the period. Engineers Gate Manager LP’s holdings in National Fuel Gas were worth $6,603,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in National Fuel Gas during the second quarter worth about $748,569,000. California State Teachers Retirement System grew its stake in National Fuel Gas by 7,517.2% in the second quarter. California State Teachers Retirement System now owns 8,088,211 shares of the oil and gas producer’s stock valued at $624,491,000 after purchasing an additional 7,982,027 shares in the last quarter. Energy Income Partners LLC bought a new position in National Fuel Gas in the second quarter valued at approximately $231,309,000. Price T Rowe Associates Inc. MD increased its position in shares of National Fuel Gas by 653.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,582,782 shares of the oil and gas producer’s stock worth $126,718,000 after purchasing an additional 1,372,742 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of National Fuel Gas during the 4th quarter worth approximately $92,415,000. Institutional investors own 73.96% of the company’s stock.

Analyst Ratings Changes

NFG has been the subject of several recent analyst reports. Wall Street Zen downgraded National Fuel Gas from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Weiss Ratings downgraded shares of National Fuel Gas from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Finally, KeyCorp reaffirmed an “overweight” rating on shares of National Fuel Gas in a research report on Monday, August 31st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.50.

National Fuel Gas Stock Performance

NFG opened at $80.91 on Friday. The business has a 50 day moving average of $81.79 and a 200-day moving average of $84.24. National Fuel Gas Company has a 12-month low of $75.17 and a 12-month high of $97.06. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.83 and a beta of 0.37. The company has a quick ratio of 3.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.91.

National Fuel Gas (NYSE:NFG) last released its quarterly earnings data on Thursday, July 30th. The oil and gas producer reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.10. National Fuel Gas had a net margin of 26.97% and a return on equity of 19.04%. The firm had revenue of $537.50 million during the quarter, compared to analysts’ expectations of $564.33 million. During the same period in the previous year, the business posted $1.64 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that National Fuel Gas Company will post 7.49 earnings per share for the current year.

National Fuel Gas Profile

National Fuel Gas Company (NYSE:NFG) is a diversified energy company with operations spanning natural gas exploration and production, pipeline transportation and storage, and utility distribution. Through its subsidiaries, the company develops, produces, gathers, stores and transports natural gas, primarily serving markets in the northeastern United States.

National Fuel’s exploration and production business is operated through Seneca Resources Company, which focuses on developing natural gas reserves in the Appalachian region, including the Marcellus and Utica shale formations.