Piedmont Natural Gas Stock To Go Ex-dividend Tomorrow (PNY)

NEW YORK ( TheStreet) -- The ex-dividend date for Piedmont Natural Gas Company (NYSE: PNY) is tomorrow, March 21, 2012. Owners of shares as of market close today will be eligible for a dividend of 30 cents per share. At a price of $31.50 as of 9:30 a.m. ET, the dividend yield is 3.8%.

The average volume for Piedmont Natural Gas has been 320,800 shares per day over the past 30 days. Piedmont Natural Gas has a market cap of $2.37 billion and is part of the utilities sector and utilities industry. Shares are down 6.9% year to date as of the close of trading on Monday.

Piedmont Natural Gas Company, Inc., an energy services company, engages in the distribution of 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 21.6, above the average utilities industry P/E ratio of 20.9 and above the S&P 500 P/E ratio of 17.7.

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, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Piedmont Natural Gas Ratings Report.

See our dividend calendar or top-yielding stocks list.

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