Robert W. Baird Raises Piedmont Natural Gas to Outperform (PNY)
Piedmont Natural Gas (NYSE: PNY) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Tuesday. The firm currently has a $33.00 target price on the stock, up from their previous target price of $30.00.
Shares of Piedmont Natural Gas traded up 0.23% during mid-day trading on Tuesday, hitting $30.76. Piedmont Natural Gas has a one year low of $25.86 and a one year high of $34.74. The company has a market cap of $2.205 billion and a P/E ratio of 21.03.
Piedmont Natural Gas last issued its quarterly earnings data on Friday, March 9th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by $0.15. The company’s revenue for the quarter was down 27.6% on a year-over-year basis. On average, analysts predict that Piedmont Natural Gas will post $-0.10 earnings per share next quarter.
Piedmont Natural Gas Company, Inc. (Piedmont) is an energy services company. The Company is engaged in 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 61,000 customers served by municipalities who are its wholesale customers.