Arizona State Retirement System decreased its position in Piedmont Natural Gas Co. (NYSE:PNY) by 0.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,999 shares of the company’s stock after selling 100 shares during the period. Arizona State Retirement System’s holdings in Piedmont Natural Gas were worth $2,522,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of PNY. First Trust Advisors LP boosted its stake in Piedmont Natural Gas by 17.2% in the third quarter. First Trust Advisors LP now owns 214,035 shares of the company’s stock worth $12,851,000 after buying an additional 31,477 shares in the last quarter. NEXT Financial Group Inc boosted its stake in Piedmont Natural Gas by 127.5% in the third quarter. NEXT Financial Group Inc now owns 4,039 shares of the company’s stock worth $243,000 after buying an additional 2,264 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in Piedmont Natural Gas during the third quarter worth approximately $233,000. Capital Investment Counsel Inc boosted its stake in Piedmont Natural Gas by 8.9% in the third quarter. Capital Investment Counsel Inc now owns 8,566 shares of the company’s stock worth $514,000 after buying an additional 700 shares in the last quarter. Finally, Synovus Financial Corp boosted its stake in Piedmont Natural Gas by 0.6% in the third quarter. Synovus Financial Corp now owns 1,949 shares of the company’s stock worth $117,000 after buying an additional 11 shares in 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) opened at 60.02 on Friday. The firm has a 50-day moving average price of $60.04 and a 200 day moving average price of $59.91. Piedmont Natural Gas Co. has a 12-month low of $40.30 and a 12-month high of $60.35.
Piedmont Natural Gas (NYSE:PNY) last announced its quarterly 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 company earned $157.80 million during the quarter. The company’s revenue was down .3% on a year-over-year basis. Equities analysts forecast that Piedmont Natural Gas Co. will post $1.93 earnings per share for the current year.
The firm also recently declared a special dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 23rd will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, December 21st. This represents a yield of 2.26%. Piedmont Natural Gas’s dividend payout ratio (DPR) is presently 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 for the company in a research report on Thursday, September 22nd.
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.