Engineers Gate Manager LP Has $6.60 Million Position in National Fuel Gas Company $NFG

Engineers Gate Manager LP cut its stake in National Fuel Gas Company (NYSE:NFG) by 11.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,524 shares of the oil and gas producer’s stock after selling 10,677 shares during the quarter. Engineers Gate Manager LP owned 0.09% of National Fuel Gas worth $6,603,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SJS Investment Consulting Inc. increased its stake in National Fuel Gas by 458.0% in the first quarter. SJS Investment Consulting Inc. now owns 279 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of National Fuel Gas during the fourth quarter worth $29,000. HM Payson & Co. bought a new position in shares of National Fuel Gas during the fourth quarter worth $29,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of National Fuel Gas in the 1st quarter valued at $38,000. Finally, Bogart Wealth LLC grew its holdings in shares of National Fuel Gas by 170.2% in the 1st quarter. Bogart Wealth LLC now owns 516 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 325 shares during the period. 73.96% of the stock is currently owned by institutional investors and hedge funds.

National Fuel Gas Stock Performance

Shares of National Fuel Gas stock opened at $80.91 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.20 and a quick ratio of 3.07. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.83 and a beta of 0.37. The stock’s 50-day moving average is $81.79 and its 200-day moving average is $84.24. National Fuel Gas Company has a one year low of $75.17 and a one year high of $97.06.

National Fuel Gas (NYSE:NFG) last announced its earnings results on Thursday, July 30th. The oil and gas producer reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.10. The business had revenue of $537.50 million for the quarter, compared to analyst estimates of $564.33 million. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.National Fuel Gas’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 EPS. Equities analysts predict that National Fuel Gas Company will post 7.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

National Fuel Gas Company 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.