HighTower Advisors LLC Cuts Position in National Fuel Gas Company $NFG

Key Points

• HighTower Advisors cut its National Fuel Gas position by 30.5% in the second quarter, selling 15,289 shares and retaining 34,772 shares valued at approximately $2.7 million. Institutional investors collectively own 73.96% of NFG stock.
• National Fuel Gas reported quarterly EPS of $1.54, exceeding analyst expectations of $1.44, while revenue of $537.5 million fell short of the $564.3 million consensus estimate. Shares opened at $80.91, near the lower end of their 12-month range.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and a $105.50 average price target, despite recent rating reductions from some analysts.

HighTower Advisors LLC decreased its holdings in shares of National Fuel Gas Company (NYSE:NFG - Free Report) by 30.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,772 shares of the oil and gas producer's stock after selling 15,289 shares during the period. HighTower Advisors LLC's holdings in National Fuel Gas were worth $2,685,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. NewEdge Wealth LLC grew its stake in shares of National Fuel Gas by 6.2% in the 4th quarter. NewEdge Wealth LLC now owns 2,680 shares of the oil and gas producer's stock worth $215,000 after buying an additional 156 shares during the last quarter. Optas LLC raised its stake in National Fuel Gas by 5.3% during the first quarter. Optas LLC now owns 3,238 shares of the oil and gas producer's stock valued at $304,000 after buying an additional 163 shares during the last quarter. Brooklyn Investment Group boosted its holdings in National Fuel Gas by 7.5% in the third quarter. Brooklyn Investment Group now owns 2,434 shares of the oil and gas producer's stock worth $225,000 after acquiring an additional 169 shares in the last quarter. Inspire Investing LLC boosted its holdings in National Fuel Gas by 5.3% in the first quarter. Inspire Investing LLC now owns 3,465 shares of the oil and gas producer's stock worth $326,000 after acquiring an additional 174 shares in the last quarter. Finally, Advisory Services Network LLC grew its stake in shares of National Fuel Gas by 1.1% in the third quarter. Advisory Services Network LLC now owns 16,732 shares of the oil and gas producer's stock worth $1,546,000 after acquiring an additional 175 shares during the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

National Fuel Gas Stock Performance

Shares of NFG opened at $80.91 on Friday. The business's fifty day simple moving average is $81.79 and its two-hundred day simple moving average is $84.24. The company has a current ratio of 3.20, a quick ratio of 3.07 and a debt-to-equity ratio of 0.91. National Fuel Gas Company has a 12 month low of $75.17 and a 12 month high of $97.06. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.80 and a beta of 0.37.

National Fuel Gas (NYSE:NFG - Get Free Report) last announced its quarterly 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. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The firm had revenue of $537.50 million for the quarter, compared to the consensus estimate of $564.33 million. During the same period in the prior year, the company posted $1.64 earnings per share. The company's quarterly revenue was up 1.1% on a year-over-year basis. Research analysts anticipate that National Fuel Gas Company will post 7.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NFG. Weiss Ratings downgraded National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. Wall Street Zen cut shares of National Fuel Gas from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. Finally, KeyCorp reissued an "overweight" rating on shares of National Fuel Gas in a research report on Monday, August 31st. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.50.

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.

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