One stock that might be an intriguing choice for investors right now is Piedmont Natural Gas Co. Inc. (PNY). This is because this security in the Utilities- Gas Distribution space is seeing solid earnings estimate revision activity, and is a great company from a Zacks Industry Rank perspective.
This is important because, oftentimes, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Utilities- Gas Distribution space as it currently has a Zacks Industry Rank of 46 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Piedmont Natural Gas is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
In fact, over the past month, current quarter estimates have risen from 74 cents per share to 75 cents per share, while current year estimates have risen from $1.79 per share to $1.86 per share. This has helped PNY to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position.
So, if you are looking for a decent pick in a strong industry, consider Piedmont Natural Gas. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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PIEDMONT NATURAL GAS CO INC (PNY): Free Stock Analysis Report
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