PAA Natural Gas Stock To Go Ex-dividend Tomorrow (PNG)

NEW YORK ( TheStreet) -- The ex-dividend date for PAA Natural Gas Storage (NYSE: PNG) is tomorrow, November 2, 2011. Owners of shares as of market close today will be eligible for a dividend of 36 cents per share. At a price of $18.36 as of 9:30 a.m. ET, the dividend yield is 7.7%.

The average volume for PAA Natural Gas has been 135,700 shares per day over the past 30 days. PAA Natural Gas has a market cap of $1.1 billion and is part of the utilities sector and utilities industry. Shares are down 24.2% year to date as of the close of trading on Monday.

PAA Natural Gas Storage, L.P., through its subsidiaries, engages in the acquisition, development, operation, and commercial management of natural gas storage facilities. As of May 4, 2011, it owned and operated three natural gas storage facilities in Louisiana, Mississippi, and Michigan. The company has a P/E ratio of 24.6, above the average utilities industry P/E ratio of 24.1 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates PAA Natural Gas as a sell. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and generally weak debt management. You can view the full PAA Natural Gas Ratings Report.

See our dividend calendar or top-yielding stocks list.

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