Delta Natural Gas Co. (NASDAQ:DGAS) was downgraded by research analysts at TheStreet from a “buy” rating to a “hold” rating in a report issued on Friday.
Delta Natural Gas (NASDAQ:DGAS) traded down 1.50% during midday trading on Friday, reaching $24.97. 11,575 shares of the company traded hands. The firm has a 50-day moving average price of $25.70 and a 200-day moving average price of $24.74. The firm has a market capitalization of $177.09 million and a price-to-earnings ratio of 31.93. Delta Natural Gas has a one year low of $20.26 and a one year high of $28.22.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, August 30th. This is a positive change from Delta Natural Gas’s previous quarterly dividend of $0.21.
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Separately, Zacks Investment Research cut Delta Natural Gas from a “hold” rating to a “sell” rating in a research note on Monday, May 16th.
Other large investors have added to or reduced their stakes in the company. First Manhattan Co. boosted its stake in Delta Natural Gas by 0.7% in the second quarter. First Manhattan Co. now owns 183,508 shares of the company’s stock worth $4,943,000 after buying an additional 1,300 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Delta Natural Gas by 12.8% in the first quarter. Renaissance Technologies LLC now owns 76,286 shares of the company’s stock worth $1,766,000 after buying an additional 8,685 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in Delta Natural Gas during the first quarter worth approximately $329,000. Finally, UBS Group AG boosted its stake in Delta Natural Gas by 31.4% in the first quarter. UBS Group AG now owns 73,248 shares of the company’s stock worth $1,695,000 after buying an additional 17,485 shares during the last quarter.
Delta Natural Gas Company, Inc is engaged in distributing or transporting natural gas to approximately 36,000 customers. The Company operates in two segments: regulated segment and a non-regulated segment. Its distribution and transmission systems are located in central and southeastern Kentucky and it owns and operates an underground storage field in southeastern Kentucky.
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