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 Video: What is a Stock Split?
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| Piedmont Natural Gas Company is an energy services company whose principal business is the distribution of natural gas to residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Co. has three reportable business segments: regulated utility, which includes the operations of merchandising and its related service work and home service agreements; regulated non-utility activities, which consists of Co.'s equity method investments in joint venture regulated energy-related businesses; and unregulated non-utility activities, which consists of Co.'s equity method investment in an unregulated energy-related joint venture. According to our PNY split history records, PNY has had 2 splits. | |
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PNY (PNY) has 2 splits in our PNY split history database. The first split for PNY took place on April 01, 1993. This was a 2 for 1
split, meaning for each share of PNY owned pre-split, the shareholder now owned 2 shares. For example, a 1000 share position pre-split, became a 2000 share position following the split. PNY's second split took place on November 01, 2004. This was a 2 for 1 split, meaning for each share of PNY owned pre-split, the shareholder now owned 2 shares. For example, a 2000 share position pre-split, became a 4000 share position following the split.
When a company such as PNY splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.
Looking at the PNY split history from start to finish, an original position size of 1000 shares would have turned into 4000 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into PNY shares, starting with a $10,000 purchase of PNY, presented on a split-history-adjusted basis factoring in the complete PNY split history.
No data found |
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| Date |
Ratio |
| 04/01/1993 | 2 for 1
| | 11/01/2004 | 2 for 1 |
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