Peak Asset Management Lowers stake in Piedmont Natural Gas Company (PNY)

Piedmont Natural Gas Company (PNY) : Peak Asset Management reduced its stake in Piedmont Natural Gas Company by 40.0% during the most recent quarter end. The investment management company now holds a total of 6,000 shares of Piedmont Natural Gas Company which is valued at $358,620 after selling 4,000 shares in Piedmont Natural Gas Company , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Piedmont Natural Gas Company makes up approximately 0.07% of Peak Asset Management’s portfolio.

Other Hedge Funds, Including , World Asset Management Inc boosted its stake in PNY in the latest quarter, The investment management firm added 236 additional shares and now holds a total of 4,094 shares of Piedmont Natural Gas Company which is valued at $244,698. Piedmont Natural Gas Company makes up approx 0.01% of World Asset Management Inc’s portfolio.Chicago Equity Partners reduced its stake in PNY by selling 19,930 shares or 61.13% in the most recent quarter. The Hedge Fund company now holds 12,670 shares of PNY which is valued at $757,666. Piedmont Natural Gas Company makes up approx 0.02% of Chicago Equity Partners’s portfolio.Boys Arnold Co Inc boosted its stake in PNY in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 5,683 shares of Piedmont Natural Gas Company which is valued at $339,616. Piedmont Natural Gas Company makes up approx 0.06% of Boys Arnold Co Inc’s portfolio.Neville Rodie Shaw Inc reduced its stake in PNY by selling 5,387 shares or 4.72% in the most recent quarter. The Hedge Fund company now holds 108,827 shares of PNY which is valued at $6,518,737. Piedmont Natural Gas Company makes up approx 0.76% of Neville Rodie Shaw Inc’s portfolio.

Piedmont Natural Gas Company (PNY) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $59.77 and reached the intraday high at $59.8. The bulls started the profit booking and pushed the shares to intraday low of $59.75. The trading session was marked by a volume range of 2,99,967 shares exchanging hands. The 52-week high of the shares is $60.35 and the 52-week low is $36.11. The market cap of the company stands at $4,852 M and there are 8,11,99,179 shares in public circulation.

On the company’s financial health, Piedmont Natural Gas Company reported $0.78 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Jun 8, 2016. Analyst had a consensus of $0.84. The company had revenue of $350.20 million for the quarter, compared to analysts expectations of $419.80 million. The company’s revenue was down -17.6 % compared to the same quarter last year.

Piedmont Natural Gas Company Inc. 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 customers served by municipalities who are the Company’s wholesale customers. The Company is invested in joint venture energy-related businesses including unregulated retail natural gas marketing and regulated interstate natural gas storage and intrastate natural gas transportation. The Company operates in two segments: regulated utility and non-utility activities. The regulated utility segment is the gas distribution business where it includes the operations of merchandising and its related service work and home warranty programs with activities conducted by the utility. The non-utility activities segment consists of the Company’s equity method investments in joint venture energy-related businesses.

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