National Fuel Gas Company $NFG Stock Holdings Lifted by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its National Fuel Gas stake by 7,517.2% in the second quarter, acquiring 7.98 million additional shares and ending with an 8.51% ownership position valued at $624.5 million.
• Institutional investors and hedge funds own 73.96% of NFG, with BlackRock initiating a position worth approximately $748.6 million and several other major firms adding shares.
• National Fuel Gas reported quarterly EPS of $1.54, beating estimates of $1.44, although revenue of $537.5 million fell short of expectations. Analysts’ consensus rating is “Moderate Buy,” with a target price of $105.50 versus the stock’s $80.80 opening price.

California State Teachers Retirement System lifted its stake in shares of National Fuel Gas Company (NYSE:NFG - Free Report) by 7,517.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,088,211 shares of the oil and gas producer's stock after acquiring an additional 7,982,027 shares during the quarter. California State Teachers Retirement System owned 8.51% of National Fuel Gas worth $624,491,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NFG. BlackRock Inc. acquired a new position in shares of National Fuel Gas in the 2nd quarter valued at $748,569,000. Energy Income Partners LLC lifted its stake in National Fuel Gas by 1.1% during the first quarter. Energy Income Partners LLC now owns 2,589,824 shares of the oil and gas producer's stock valued at $243,340,000 after buying an additional 28,755 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of National Fuel Gas by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 1,816,217 shares of the oil and gas producer's stock worth $145,446,000 after buying an additional 121,099 shares during the period. Gamco Investors INC. ET AL boosted its holdings in shares of National Fuel Gas by 2.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,445,601 shares of the oil and gas producer's stock worth $115,735,000 after buying an additional 37,056 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of National Fuel Gas by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,177,958 shares of the oil and gas producer's stock worth $110,686,000 after acquiring an additional 42,108 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFG has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of National Fuel Gas from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. Wall Street Zen lowered shares of National Fuel Gas from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. Finally, KeyCorp reiterated 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 given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $105.50.

National Fuel Gas Stock Down 0.2%

NFG opened at $80.80 on Tuesday. National Fuel Gas Company has a fifty-two week low of $75.17 and a fifty-two week high of $97.06. The business has a 50-day moving average of $81.84 and a 200-day moving average of $84.17. 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 company has a market capitalization of $7.68 billion, a PE ratio of 11.22, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $1.44 by $0.10. The business had revenue of $537.50 million during the quarter, compared to analysts' expectations of $564.33 million. National Fuel Gas had a return on equity of 19.04% and a net margin of 26.97%.The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. Equities research analysts forecast that National Fuel Gas Company will post 7.49 EPS for the current fiscal 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.

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