Piedmont Natural Gas (PNY) Given "Neutral" Rating by Zacks Investment Research Analysts
There are 1 comment on the AmericanBankingNews.com story from May 1, 2011, titled Piedmont Natural Gas (PNY) Given "Neutral" Rating by Zacks Investment Research Analysts. In it, AmericanBankingNews.com reports that:
Equities research analysts at Zacks Investment Research reiterated a "neutral" rating on shares of Piedmont Natural Gas in a research note to investors on Thursday.
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#1 May 12, 2011
I would downgrade PNY to sell. It is way above its market value, and is not worth the investment. I would recommend Exxon and Mobil as alternative investments. While PNG does offer a dividend it only does so to keep a few of the investors. PNY then goes about buying up stock to cover its ability to get new investors. Annually PNY hires someone to buy its stock to keep the market volume up, and to keep prices up. If they did not hire someone to buy their stock the price would fall like the housing market did.
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