Sabal Trust CO increased its stake in Piedmont Natural Gas Co. (NYSE:PNY) by 20.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,800 shares of the company’s stock after buying an additional 1,000 shares during the period. Sabal Trust CO’s holdings in Piedmont Natural Gas were worth $349,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Piedmont Natural Gas during the fourth quarter valued at approximately $37,456,000. Aperio Group LLC increased its position in Piedmont Natural Gas by 2.8% in the first quarter. Aperio Group LLC now owns 46,223 shares of the company’s stock valued at $2,766,000 after buying an additional 1,279 shares during the period. Teachers Advisors Inc. increased its position in Piedmont Natural Gas by 2.0% in the first quarter. Teachers Advisors Inc. now owns 196,470 shares of the company’s stock valued at $11,755,000 after buying an additional 3,843 shares during the period. Prudential Financial Inc. increased its position in Piedmont Natural Gas by 3.4% in the first quarter. Prudential Financial Inc. now owns 213,817 shares of the company’s stock valued at $12,793,000 after buying an additional 7,100 shares during the period. Finally, BlackRock Inc. increased its position in Piedmont Natural Gas by 3.5% in the first quarter. BlackRock Inc. now owns 111,257 shares of the company’s stock valued at $6,657,000 after buying an additional 3,805 shares during the period. Institutional investors and hedge funds own 61.51% of the company’s stock.
Piedmont Natural Gas Co. (NYSE:PNY) remained flat at $60.02 during midday trading on Tuesday. Piedmont Natural Gas Co. has a 12-month low of $40.30 and a 12-month high of $60.35. The firm has a 50-day moving average of $60.04 and a 200 day moving average of $59.91. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 34.55 and a beta of 0.87.
Piedmont Natural Gas (NYSE:PNY) last announced 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 firm 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%. Piedmont Natural Gas’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that Piedmont Natural Gas Co. will post $1.94 earnings per share for the current year.
The firm also recently declared a special dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 23rd will be given a dividend of $0.34 per share. This represents a yield of 2.26%. The ex-dividend date is Wednesday, December 21st. Piedmont Natural Gas’s dividend payout ratio (DPR) is presently 79.07%.
Separately, Zacks Investment Research cut Piedmont Natural Gas from a “hold” rating to a “sell” rating in a report on Friday, June 10th.
In other news, VP Kenneth T. Valentine sold 886 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $59.77, for a total value of $52,956.22. Following the transaction, the vice president now owns 22,481 shares of the company’s stock, valued at $1,343,689.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin M. Ohara sold 5,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 68,571 shares in the company, 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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