Dimensional Fund Advisors LP reduced its stake in shares of Piedmont Natural Gas Co. (NYSE:PNY) by 30.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 878,832 shares of the company’s stock after selling 380,326 shares during the period. Dimensional Fund Advisors LP owned about 1.08% of Piedmont Natural Gas worth $52,835,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Synovus Financial Corp boosted its stake in Piedmont Natural Gas by 0.6% in the second quarter. Synovus Financial Corp now owns 1,938 shares of the company’s stock valued at $116,000 after buying an additional 12 shares during the period. LS Investment Advisors LLC boosted its stake in Piedmont Natural Gas by 2.9% in the second quarter. LS Investment Advisors LLC now owns 2,892 shares of the company’s stock valued at $174,000 after buying an additional 82 shares during the period. HL Financial Services LLC bought a new stake in Piedmont Natural Gas during the second quarter valued at about $201,000. KBC Group NV boosted its stake in Piedmont Natural Gas by 87.1% in the second quarter. KBC Group NV now owns 4,012 shares of the company’s stock valued at $241,000 after buying an additional 1,868 shares during the period. Finally, World Asset Management Inc boosted its stake in Piedmont Natural Gas by 6.1% in the second quarter. World Asset Management Inc now owns 4,094 shares of the company’s stock valued at $246,000 after buying an additional 236 shares during the period. 61.51% of the stock is owned by institutional investors.
Piedmont Natural Gas Co. (NYSE:PNY) remained flat at $60.02 during midday trading on Friday. Piedmont Natural Gas Co. has a 52-week low of $40.30 and a 52-week high of $60.35. The company has a 50 day moving average price of $60.04 and a 200 day moving average price 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 issued its earnings results on Wednesday, September 7th. The company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. The business earned $157.80 million during the quarter. Piedmont Natural Gas had a net margin of 12.20% and a return on equity of 10.50%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts anticipate that Piedmont Natural Gas Co. will post $1.93 EPS for the current fiscal year.
The firm also recently announced a special dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 23rd will be given a $0.34 dividend. This represents a dividend yield of 2.26%. The ex-dividend date is Wednesday, December 21st. Piedmont Natural Gas’s dividend payout ratio (DPR) is 79.07%.
Separately, Zacks Investment Research cut shares of Piedmont Natural Gas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st.
In related news, VP Kenneth T. Valentine sold 886 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $59.77, for a total transaction of $52,956.22. Following the completion of the sale, the vice president now directly owns 22,481 shares in the company, valued at $1,343,689.37. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kevin M. Ohara sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $59.78, for a total transaction of $298,900.00. Following the sale, the insider now owns 68,571 shares of the company’s stock, valued at $4,099,174.38. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
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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