Piedmont Natural Gas Stock Rating Lowered by TheStreet (PNY)
Piedmont Natural Gas (NYSE:PNY) was downgraded by equities research analysts at TheStreet from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Stock Ratings Network.com reports.
The analysts wrote, “Piedmont Natural Gas Company (PNY) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, generally higher debt management risk and poor profit margins.”
Shares of Piedmont Natural Gas (NYSE:PNY) traded down 2.10% on Tuesday, hitting $32.15. The stock had a trading volume of 377,373 shares. Piedmont Natural Gas has a 52-week low of $28.51 and a 52-week high of $35.53. The stock has a 50-day moving average of $32.57 and a 200-day moving average of $33.64. The company has a market cap of $2.441 billion and a price-to-earnings ratio of 17.77.
Piedmont Natural Gas (NYSE:PNY) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.08) by $0.05. The company had revenue of $162.94 million for the quarter, compared to the consensus estimate of $181.49 million. On average, analysts predict that Piedmont Natural Gas will post $1.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Tuesday, September 24th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Friday, September 20th.
Piedmont Natural Gas Company, Inc (NYSE:PNY) is an energy services company whose principal business is the distribution of natural gas to over one million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee, including 51,600 customers served by municipalities who are the Company’s wholesale customers.
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