Large Inflow of Money Witnessed in Piedmont Natural Gas Company

Piedmont Natural Gas Company (NYSE:PNY) : Wednesdays money flow points at investors jumping to buy the stock on the weakness of price. $2.41 million worth of transactions were on upticks, whereas, the downticks accounted for $2.08 million worth of transactions. The net money flow was a positive $0.33 million and the uptick to downtick ratio was 1.16. The net money flow into the stock was $0.01 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $0.01 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Piedmont Natural Gas Company (NYSE:PNY) was trading at $59.69, down $0.02 during day. The stock slid -0.03% over the previous days close. For the week, the stock recorded 0.24% over the previous weeks close.


In an insider trading activity, Everett Malcolm E Iii, director of Piedmont Natural Gas Co Inc, unloaded 15,000 shares at an average price of $60.15 on June 10, 2016. The total amount of the transaction was worth $902,250, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing. Currently the company Insiders own 1.4% of Piedmont Natural Gas Company shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -20.12% . Institutional Investors own 61.78% of Piedmont Natural Gas Company shares. During last six month period, the net percent change held by insiders has seen a change of -7.45%.

The company shares have rallied 69.25% from its 1 Year high price. On Jun 10, 2016, the shares registered one year high at $60.35 and the one year low was seen on Jul 1, 2015. The 50-Day Moving Average price is $59.97 and the 200 Day Moving Average price is recorded at $59.23. Piedmont Natural Gas Company (NYSE:PNY): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $59.75 and $59.66 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $59.86. The buying momentum continued till the end and the stock did not give up its gains. It closed at $59.77, notching a gain of 0.10% for the day. The total traded volume was 305,792 . The stock had closed at $59.71 on the previous day.

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 Companys 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 Companys equity method investments in joint venture, energy-related businesses.

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