Piedmont Natural Gas Company June 15th Short Interest Update

Piedmont Natural Gas Company (NYSE:PNY) reported a drop of 2% or 48,706 shares in its short interest. The short figure came in at 3% of the total floats. The average daily volume of 309,888 shares suggests that the days to cover 2,408,251 short positions, as on June 15,2016, will be 8. On May 31,2016, the short interest was 2,456,957 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Piedmont Natural Gas Company (NYSE:PNY): The stock opened at $59.56 on Friday but the bulls could not build on the opening and the stock topped out at $59.87 for the day. The stock traded down to $59.50 during the day, due to lack of any buying support eventually closed down at $59.55 with a loss of -0.20% for the day. The stock had closed at $59.67 on the previous day. The total traded volume was 6,186,440 shares.

The company shares have rallied 67.32% from its 1 Year high price. On Jun 10, 2016, the shares registered one year high at $60.35 and the one year low was seen on Jul 1, 2015. The 50-Day Moving Average price is $59.99 and the 200 Day Moving Average price is recorded at $59.17.

Piedmont Natural Gas Company (NYSE:PNY) has tumbled 0.72% during the past week and has dropped 0.68% in the last 4 week period. In the past week, the company has outperformed the S&P 500 by 0.93% and the outperformance has advanced to 2.32% for the last 4 weeks period.

Piedmont Natural Gas Company, Inc. is an energy services company whose principal business is the distribution of natural gas to over one million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are the Companys wholesale customers. The Company is invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, and regulated interstate natural gas storage and intrastate natural gas transportation. The Company operates in two segments: regulated utility and non-utility activities. The regulated utility segment is the gas distribution business, where it includes the operations of merchandising and its related service work and home warranty programs, with activities conducted by the utility. The non-utility activities segment consists of the Companys equity method investments in joint venture, energy-related businesses.

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