Piedmont Natural Gas Co. (PNY) Sees Strong Trading Volume
Piedmont Natural Gas Co. (NYSE:PNY) shares saw an uptick in trading volume on Friday . 276,380 shares were traded during mid-day trading, an increase of 11% from the previous session’s volume of 249,959 shares.The stock last traded at $59.97 and had previously closed at $59.91.
Separately, Zacks Investment Research upgraded shares of Piedmont Natural Gas from a “sell” rating to a “hold” rating in a research note on Friday, June 3rd.
The company has a 50 day moving average of $59.83 and a 200-day moving average of $59.79. The stock has a market capitalization of $4.87 billion and a P/E ratio of 34.83.
Piedmont Natural Gas (NYSE:PNY) last posted its earnings results on Wednesday, June 8th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $350.20 million for the quarter, compared to analyst estimates of $419.80 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was down 17.6% on a year-over-year basis. On average, equities analysts expect that Piedmont Natural Gas Co. will post $1.94 earnings per share for the current fiscal year.
In related news, Director Malcolm E. Everett III sold 15,000 shares of Piedmont Natural Gas stock in a transaction on Friday, June 10th. The shares were sold at an average price of $60.15, for a total value of $902,250.00. Following the completion of the sale, the director now owns 51,724 shares in the company, valued at $3,111,198.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kenneth T. Valentine sold 886 shares of Piedmont Natural Gas stock in a transaction 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 sale, the vice president now owns 22,481 shares of the company’s stock, valued at approximately $1,343,689.37. The disclosure for this sale can be found here.
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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