Bank of New York Mellon Corp boosted its stake in shares of Delta Natural Gas Co. (NASDAQ:DGAS) by 76.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,329 shares of the company’s stock after buying an additional 12,302 shares during the period. Bank of New York Mellon Corp owned about 0.40% of Delta Natural Gas worth $764,000 as of its most recent SEC filing.
Separately, First Manhattan Co. increased its position in shares of Delta Natural Gas by 0.7% in the second quarter. First Manhattan Co. now owns 183,508 shares of the company’s stock valued at $4,943,000 after buying an additional 1,300 shares in the last quarter. 33.28% of the stock is currently owned by hedge funds and other institutional investors.
Delta Natural Gas Co. (NASDAQ:DGAS) traded down 0.731% during midday trading on Wednesday, hitting $23.765. 1,686 shares of the stock traded hands. The firm has a market cap of $168.54 million, a PE ratio of 30.390 and a beta of 0.54. The company’s 50 day moving average price is $24.09 and its 200 day moving average price is $24.98. Delta Natural Gas Co. has a 12 month low of $20.30 and a 12 month high of $28.22.
Several equities analysts have weighed in on DGAS shares. Zacks Investment Research downgraded shares of Delta Natural Gas from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd. TheStreet downgraded shares of Delta Natural Gas from a “buy” rating to a “hold” rating in a report on Friday, September 2nd.
Delta Natural Gas Company Profile
Delta Natural Gas Company, Inc is engaged in distributing or transporting natural gas to approximately 36,000 customers. The Company operates in two segments: regulated segment and a non-regulated segment. Its distribution and transmission systems are located in central and southeastern Kentucky and it owns and operates an underground storage field in southeastern Kentucky.
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