Piedmont Natural Gas Co. (NYSE:PNY) has earned a consensus broker rating score of 3.00 (Hold) from the five analysts that provide coverage for the company, Zacks Investment Research reports. Five investment analysts have rated the stock with a hold recommendation.
Brokerages have set a 12-month consensus price target of $60.00 for the company and are forecasting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also given Piedmont Natural Gas an industry rank of 90 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded Piedmont Natural Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th.
In related news, VP Kenneth T. Valentine sold 886 shares of the business’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $59.77, for a total value of $52,956.22. Following the sale, the vice president now directly owns 22,481 shares in the company, valued at approximately $1,343,689.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin M. Ohara sold 5,000 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $59.78, for a total value of $298,900.00. Following the completion of the sale, the insider now owns 68,571 shares in the company, valued at $4,099,174.38. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in PNY. Synovus Financial Corp boosted its stake in shares of Piedmont Natural Gas by 0.6% in the second quarter. Synovus Financial Corp now owns 1,938 shares of the company’s stock worth $116,000 after buying an additional 12 shares in the last quarter. SevenBridge Financial Group LLC purchased a new stake in shares of Piedmont Natural Gas during the second quarter worth about $123,000. LS Investment Advisors LLC boosted its stake in shares of Piedmont Natural Gas by 2.9% in the second quarter. LS Investment Advisors LLC now owns 2,892 shares of the company’s stock worth $174,000 after buying an additional 82 shares in the last quarter. HL Financial Services LLC purchased a new stake in shares of Piedmont Natural Gas during the second quarter worth about $201,000. Finally, Jane Street Group LLC purchased a new stake in shares of Piedmont Natural Gas during the second quarter worth about $210,000. Institutional investors and hedge funds own 61.51% of the company’s stock.
Shares of Piedmont Natural Gas (NYSE:PNY) opened at 59.98 on Friday. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 34.53 and a beta of 0.87. The stock has a 50 day moving average of $60.03 and a 200-day moving average of $59.91. Piedmont Natural Gas has a 12 month low of $39.35 and a 12 month high of $60.35.
Piedmont Natural Gas (NYSE:PNY) last released its earnings results on Wednesday, September 7th. The company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. The company had revenue of $157.80 million for the quarter. Piedmont Natural Gas had a return on equity of 10.50% and a net margin of 12.20%. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts forecast that Piedmont Natural Gas will post $1.94 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 23rd will be paid a $0.34 dividend. This represents a yield of 2.26%. The ex-dividend date is Wednesday, December 21st. Piedmont Natural Gas’s dividend payout ratio is currently 79.07%.
About Piedmont Natural Gas
Piedmont Natural Gas Company, Inc is an energy services company. The Company’s principal business is the distribution of natural gas to residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities, which are its wholesale customers.
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