Trading Report: The Emerald Acquisition Ltd. Takes Position in Piedmont Natural Gas Co. (PNY)

The Emerald Acquisition Ltd. Takes Position in Piedmont Natural Gas Co. (PNY)

Emerald Acquisition Ltd. purchased a new position in shares of Piedmont Natural Gas Co. (NYSE:PNY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,902 shares of the company’s stock, valued at approximately $836,000.

Several other large investors also recently bought and sold shares of PNY. Goldman Sachs Group Inc. boosted its position in shares of Piedmont Natural Gas by 400.5% in the first quarter. Goldman Sachs Group Inc. now owns 840,581 shares of the company’s stock worth $50,291,000 after buying an additional 672,642 shares during the period. Magnetar Financial LLC boosted its position in shares of Piedmont Natural Gas by 67.1% in the first quarter. Magnetar Financial LLC now owns 1,667,738 shares of the company’s stock worth $99,781,000 after buying an additional 669,962 shares during the period. Renaissance Technologies LLC boosted its position in shares of Piedmont Natural Gas by 181.6% in the first quarter. Renaissance Technologies LLC now owns 957,300 shares of the company’s stock worth $57,275,000 after buying an additional 617,400 shares during the period. Longfellow Investment Management Co. LLC acquired a new position in shares of Piedmont Natural Gas during the second quarter worth $9,018,000. Finally, SG Americas Securities LLC boosted its position in shares of Piedmont Natural Gas by 55.1% in the second quarter. SG Americas Securities LLC now owns 383,554 shares of the company’s stock worth $23,059,000 after buying an additional 136,181 shares during the period. Institutional investors own 61.51% of the company’s stock.

Shares of Piedmont Natural Gas Co. (NYSE:PNY) remained flat at $60.02 on Thursday. The firm has a 50-day moving average of $60.04 and a 200-day moving average of $59.91. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 34.55 and a beta of 0.87. Piedmont Natural Gas Co. has a one year low of $40.30 and a one year high of $60.35.

Piedmont Natural Gas (NYSE:PNY) last posted its earnings results on Wednesday, September 7th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02. Piedmont Natural Gas had a net margin of 12.20% and a return on equity of 10.50%. The firm earned $157.80 million during the quarter. The business’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts anticipate that Piedmont Natural Gas Co. will post $1.93 earnings per share for the current year.

The company also recently announced a special dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 23rd will be given a $0.34 dividend. This represents a yield of 2.26%. The ex-dividend date is Wednesday, December 21st. Piedmont Natural Gas’s dividend payout ratio (DPR) is 79.07%.

Separately, Zacks Investment Research raised shares of Piedmont Natural Gas from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Thursday, September 22nd.

In other Piedmont Natural Gas news, insider Kevin M. Ohara sold 5,000 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $59.78, for a total value of $298,900.00. Following the completion of the transaction, the insider now owns 68,571 shares in the company, valued at approximately $4,099,174.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kenneth T. Valentine sold 886 shares of the company’s stock in a transaction dated 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 transaction, 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. 1.40% of the stock is currently owned by company insiders.

About Piedmont Natural Gas

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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