Trade-Ideas LLC identified

Piedmont Natural Gas

(

PNY

) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Piedmont Natural Gas as such a stock due to the following factors:

  • PNY has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $42.4 million.
  • PNY has traded 29,104 shares today.
  • PNY is trading at a new lifetime high.

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More details on PNY:

Piedmont Natural Gas Company, Inc., an energy services company, distributes natural gas. It operates in three segments: Regulated Utility, Regulated Non-Utility Activities, and Unregulated Non-Utility Activities. The stock currently has a dividend yield of 2.3%. PNY has a PE ratio of 34. Currently there are no analysts that rate Piedmont Natural Gas a buy, 2 analysts rate it a sell, and 6 rate it a hold.

The average volume for Piedmont Natural Gas has been 524,600 shares per day over the past 30 days. Piedmont Natural Gas has a market cap of $4.7 billion and is part of the utilities sector and utilities industry. The stock has a beta of 1.28 and a short float of 1.1% with 1.91 days to cover. Shares are up 3.5% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Piedmont Natural Gas as a

buy

. Among the primary strengths of the company is its solid stock price performance. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:

  • Compared to its closing price of one year ago, PNY's share price has jumped by 43.20%, exceeding the performance of the broader market during that same time frame. We feel that the stock's sharp appreciation over the last year has driven it to a price level which is now somewhat expensive compared to the rest of its industry. The other strengths this company shows, however, justify the higher price levels.
  • Regardless of the drop in revenue, the company managed to outperform against the industry average of 10.4%. Since the same quarter one year prior, revenues slightly dropped by 2.5%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
  • PIEDMONT NATURAL GAS CO has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has suffered a declining pattern of earnings per share over the past two years. However, we anticipate this trend to reverse over the coming year. During the past fiscal year, PIEDMONT NATURAL GAS CO reported lower earnings of $1.74 versus $1.86 in the prior year. This year, the market expects an improvement in earnings ($1.98 versus $1.74).
  • The change in net income from the same quarter one year ago has significantly exceeded that of the Gas Utilities industry average, but is less than that of the S&P 500. The net income has significantly decreased by 57.3% when compared to the same quarter one year ago, falling from -$8.97 million to -$14.11 million.
  • The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. Compared to other companies in the Gas Utilities industry and the overall market on the basis of return on equity, PIEDMONT NATURAL GAS CO has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.

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