Insider Selling: Piedmont Natural Gas VP Unloads 1,450 Shares of Stock (PNY)
Piedmont Natural Gas (NYSE:PNY) VP David R. Carpenter sold 1,450 shares of the company’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $36.95, for a total value of $53,577.50. Following the completion of the transaction, the vice president now directly owns 5,662 shares in the company, valued at approximately $209,211. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Piedmont Natural Gas in a research note on Monday, June 9th. They now have a $34.00 price target on the stock, up previously from $33.00.
Piedmont Natural Gas (NYSE:PNY) traded up 0.41% on Friday, hitting $37.13. The stock had a trading volume of 45,147 shares. Piedmont Natural Gas has a 52-week low of $31.56 and a 52-week high of $37.39. The stock has a 50-day moving average of $35.77 and a 200-day moving average of $34.37. The company has a market cap of $2.902 billion and a P/E ratio of 18.70.
Piedmont Natural Gas (NYSE:PNY) last issued its quarterly earnings data on Friday, June 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. The company had revenue of $462.25 million for the quarter, compared to the consensus estimate of $427.95 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. Analysts expect that Piedmont Natural Gas will post $1.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Tuesday, June 24th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, June 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.