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TheStreet Wire

Piedmont Natural Gas Stock Hits New 52-Week High (PNY)

By TheStreet Wire 10/24/11 - 12:04 PM EDT

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NEW YORK (TheStreet) -- Piedmont Natural Gas Company (NYSE:PNY) hit a new 52-week high Monday as it is currently trading at $32.08, above its previous 52-week high of $32 with 118,614 shares traded as of 11:40 a.m. ET. Average volume has been 435,400 shares over the past 30 days.

Piedmont Natural Gas has a market cap of $2.2 billion and is part of the utilities sector and utilities industry. Shares are up 10.2% year to date as of the close of trading on Friday.

Piedmont Natural Gas Company, Inc., an energy services company, distributes natural gas to residential, commercial, industrial, and power generation customers in portions of North Carolina, South Carolina, and Tennessee. The company has a P/E ratio of 19.5, equal to the average utilities industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Piedmont Natural Gas as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Piedmont Natural Gas Ratings Report.

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