Mason Street Advisors LLC bought a new position in Piedmont Natural Gas Co. (NYSE:PNY) during the second quarter, Holdings Channel reports. The fund bought 15,850 shares of the company’s stock, valued at approximately $953,000.
Several other institutional investors also recently made changes to their positions in PNY. Norges Bank bought a new position in shares of Piedmont Natural Gas during the fourth quarter worth approximately $37,456,000. Aperio Group LLC raised its stake in shares of Piedmont Natural Gas by 2.8% in the first quarter. Aperio Group LLC now owns 46,223 shares of the company’s stock worth $2,766,000 after buying an additional 1,279 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Piedmont Natural Gas by 2.0% in the first quarter. Teachers Advisors Inc. now owns 196,470 shares of the company’s stock worth $11,755,000 after buying an additional 3,843 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Piedmont Natural Gas by 3.4% in the first quarter. Prudential Financial Inc. now owns 213,817 shares of the company’s stock worth $12,793,000 after buying an additional 7,100 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Piedmont Natural Gas by 3.5% in the first quarter. BlackRock Inc. now owns 111,257 shares of the company’s stock worth $6,657,000 after buying an additional 3,805 shares in the last quarter. Hedge funds and other institutional investors own 61.51% of the company’s stock.
Shares of Piedmont Natural Gas Co. (NYSE:PNY) opened at 59.98 on Wednesday. The company’s 50 day moving average price is $60.03 and its 200-day moving average price is $59.91. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 34.53 and a beta of 0.87. Piedmont Natural Gas Co. has a 52 week low of $39.35 and a 52 week high of $60.35.
Piedmont Natural Gas (NYSE:PNY) last released its quarterly earnings results on Wednesday, September 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The company earned $157.80 million during the quarter. Piedmont Natural Gas had a return on equity of 10.50% and a net margin of 12.20%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts anticipate that Piedmont Natural Gas Co. will post $1.94 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 23rd will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, December 21st. This represents a dividend yield of 2.26%. Piedmont Natural Gas’s payout ratio is currently 79.07%.
Separately, Zacks Investment Research raised Piedmont Natural Gas from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th.
In other Piedmont Natural Gas news, VP Kenneth T. Valentine sold 886 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $59.77, for a total transaction of $52,956.22. Following the completion of the transaction, the vice president now owns 22,481 shares of the company’s stock, valued at $1,343,689.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin M. Ohara sold 5,000 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $59.78, for a total value of $298,900.00. Following the transaction, the insider now directly owns 68,571 shares of the company’s stock, valued at approximately $4,099,174.38. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
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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