Piedmont Natural Gas Company, Inc. (PNY)
An energy services company primarily engaged in the distribution of natural gas to residential, commercial and industrial utility customers in North Carolina, South Carolina and Tennessee.
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dividend of .27 declare on 12-23-09 give or take a few days....pay date in Jan....with xtra dividend from sale gain of .42 per share...should offer .15 to .25 of this gain as payout?
with cold weather coming....earning will be to guideance..
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HOPEFULLY WILL BE 1 OF THE NATURAL GAS BONAZOS
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Of the top 10 fastest growing cities since 2000 Charlotte is #7 and Raliegh is #9.
97% consolidated assets in regulated utilities by the North Carolina Utilities Commission (NCUC), the Public Service Commission of South Carolina (PSCSC) and the Tennessee Regulatory Authority (TRA) under the umbrella of the Federal Energy Regulatory Commission. Supplies provided by the Midwestern Gas Transmission Company (Midwestern), among others, & provides access to Canadian and Rocky Mountain gas supplies.
Last conference call highlights (May 26th):
- Dividends since 1956, increases since 1978. 3.8% increased announced for 2009. The solid dividend provides a floor at 20 that hasn't been penetrated for over 5 years.
- 1.9MM cost cutting from last year's Q1 numbers through lower headcounts/maintance. 2.5% of the workforce attrition, from 1870 to 1823.
- 350 basis points borrowing cost lower than last year.
- 1.10 EPS versus 1.12 last year Q1. 2.7% sales growth estimate for Oct 2010.
Technicals:
Near 52-week low. Option pressure pointing to 30 by June expiration, representing a 30% gain; 1251/155 contracts long versus short. 147,000 order started the market day nearly 0.20 higher than Friday's end. Money flow >50 for most of the day, brought down by a 60,000 share sale but quickly rebounding.
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The balance sheet is awesome.
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This stocks price in the last six months is just tracking along with the rest of the market. It has, and will continue to, outperform the S&P 500. In a move, sure to please the marketmakers, it again increased its dividend. In stability, almost all of its business is the delivery of NG to consumers as a regulated utility.
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Natural gas should get a pop when Obama looks over T Boone's plan. The plan makes sense, and Obama is pragmatic. The price should get a good boost within the next year
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bear markets maul all stocks somewhat......
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This stock has been passed down in my family for over 20 years and gone steadily up.
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Natural gas prices will continue to go higher and I believe that PNY will increase profits.
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Expanding their core product and new customers on the rise.
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small regional performer that is consistant and methodical.
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Natual gas is a natural play for years to come.
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company has incresed dividend for the past 10 years
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It's a GAS!!!
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for years pny appeared to be a superior performer among gas utes thus warranting its above peer group PE. now it is consistently lagging other steady performers such as ATO and ATG. PNY no longer is maximizing the potential provided by the rapid economic growth of its service area.
Recs
Stock doesn't appreciate a whole lot but pays a very nice dividend that continues to increase. Again, NG will only get better as fuel prices go up.

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