Duff & Phelps Investment Management Co. continued to hold its stake in Piedmont Natural Gas Co. (NYSE:PNY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000,000 shares of the company’s stock at the end of the second quarter. Duff & Phelps Investment Management Co.’s holdings in Piedmont Natural Gas were worth $60,120,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado increased its stake in Piedmont Natural Gas by 2.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 18,666 shares of the company’s stock valued at $1,122,000 after buying an additional 507 shares during the last quarter. Sabal Trust CO increased its stake in Piedmont Natural Gas by 20.8% in the second quarter. Sabal Trust CO now owns 5,800 shares of the company’s stock valued at $349,000 after buying an additional 1,000 shares during the last quarter. HL Financial Services LLC bought a new stake in Piedmont Natural Gas during the second quarter valued at about $201,000. Bank of Montreal Can bought a new stake in Piedmont Natural Gas during the second quarter valued at about $6,920,000. Finally, LS Investment Advisors LLC increased 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 last quarter. Hedge funds and other institutional investors own 61.51% of the company’s stock.
Shares of Piedmont Natural Gas Co. (NYSE:PNY) remained flat at $60.02 during trading on Wednesday. Piedmont Natural Gas Co. has a one year low of $40.30 and a one year high of $60.35. The firm’s 50-day moving average price is $60.04 and its 200 day moving average price is $59.91.
Piedmont Natural Gas (NYSE:PNY) last issued its earnings results on Wednesday, September 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. Piedmont Natural Gas had a return on equity of 10.50% and a net margin of 12.20%. The firm had revenue of $157.80 million for the quarter. The business’s quarterly revenue was down .3% compared to the same quarter last year. Analysts forecast that Piedmont Natural Gas Co. will post $1.93 earnings per share for the current fiscal year.
The business 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. This represents a yield of 2.26%. The ex-dividend date of this dividend is Wednesday, December 21st. Piedmont Natural Gas’s dividend payout ratio (DPR) is currently 79.07%.
Separately, Zacks Investment Research upgraded Piedmont Natural Gas from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Thursday, September 22nd.
In other Piedmont Natural Gas news, 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 transaction, the insider now owns 68,571 shares in the company, valued at $4,099,174.38. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.
Piedmont Natural Gas Company Profile
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.
Want to see what other hedge funds are holding PNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Piedmont Natural Gas Co. (NYSE:PNY).
Receive News & Ratings for Piedmont Natural Gas Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Natural Gas Co. and related companies with MarketBeat.com's FREE daily email newsletter.