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 $22.2 million.
  • PNY has traded 107,790 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, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Recommends

The average volume for Piedmont Natural Gas has been 473,000 shares per day over the past 30 days. Piedmont Natural Gas has a market cap of $4.8 billion and is part of the utilities sector and utilities industry. The stock has a beta of 1.20 and a short float of 2.3% with 5.49 days to cover. Shares are up 4.9% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Piedmont Natural Gas as a

buy

. The company's strengths can be seen in multiple areas, such as its increase in net income, expanding profit margins, solid stock price performance and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

Highlights from the ratings report include:

  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Gas Utilities industry average. The net income increased by 5.2% when compared to the same quarter one year prior, going from $92.98 million to $97.79 million.
  • 44.44% is the gross profit margin for PIEDMONT NATURAL GAS CO which we consider to be strong. It has increased significantly from the same period last year. Along with this, the net profit margin of 21.19% significantly outperformed against the industry average.
  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 69.39% over the past year, a rise that has exceeded that of the S&P 500 Index. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
  • Regardless of the drop in revenue, the company managed to outperform against the industry average of 24.2%. Since the same quarter one year prior, revenues fell by 24.0%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • PIEDMONT NATURAL GAS CO's earnings per share improvement from the most recent quarter was slightly positive. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in 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).

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