Zacks: Delta Natural Gas Co. (NASDAQ:DGAS) Receives Average Rating of “Hold” from Analysts
Shares of Delta Natural Gas Co. (NASDAQ:DGAS) have been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Zacks has also assigned Delta Natural Gas an industry rank of 101 out of 265 based on the ratings given to related companies.
Several equities analysts have recently weighed in on DGAS shares. Zacks Investment Research cut Delta Natural Gas from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. TheStreet cut Delta Natural Gas from a “buy” rating to a “hold” rating in a research report on Friday, September 2nd.
A number of institutional investors have recently bought and sold shares of the company. UBS Group AG boosted its position in Delta Natural Gas by 31.4% in the first quarter. UBS Group AG now owns 73,248 shares of the company’s stock valued at $1,695,000 after buying an additional 17,485 shares during the last quarter. Renaissance Technologies LLC boosted its position in Delta Natural Gas by 12.8% in the first quarter. Renaissance Technologies LLC now owns 76,286 shares of the company’s stock valued at $1,766,000 after buying an additional 8,685 shares during the last quarter. American International Group Inc. acquired a new position in Delta Natural Gas during the second quarter valued at approximately $106,000. O Shaughnessy Asset Management LLC boosted its position in Delta Natural Gas by 1,311.4% in the second quarter. O Shaughnessy Asset Management LLC now owns 7,537 shares of the company’s stock valued at $203,000 after buying an additional 7,003 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Delta Natural Gas by 440.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 53,038 shares of the company’s stock valued at $1,429,000 after buying an additional 43,230 shares during the last quarter. Institutional investors and hedge funds own 33.27% of the company’s stock.
Shares of Delta Natural Gas (NASDAQ:DGAS) traded down 0.6227% during midday trading on Tuesday, hitting $23.2046. The stock had a trading volume of 7,172 shares. Delta Natural Gas has a 1-year low of $20.30 and a 1-year high of $28.22. The firm’s 50-day moving average price is $24.71 and its 200-day moving average price is $24.97. The stock has a market cap of $164.57 million, a price-to-earnings ratio of 29.6734 and a beta of 0.54.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 3.55%. This is a boost from Delta Natural Gas’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, August 30th. Delta Natural Gas’s payout ratio is presently 113.70%.
About Delta Natural Gas
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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