October 24, 2014 8:02 AM ET

Gas Utilities

Company Overview of Piedmont Natural Gas Co. Inc.

Company Overview

Piedmont Natural Gas Company, Inc., an energy services company, distributes natural gas in the United States. It operates in two segments, Regulated Utility and Non-Utility Activities. The company also operates energy-related businesses comprising unregulated retail natural gas marketing, regulated interstate natural gas transportation, and storage and regulated intrastate natural gas transportation. It distributes natural gas through transmission pipelines and distribution mains. As of December 23, 2013, the company served approximately one million residential, commercial, industrial, and power generation customers in of North Carolina, South Carolina, and Tennessee, including wholesale cus...

4720 Piedmont Row Drive

Charlotte, NC 28210

United States

Founded in 1949

1,868 Employees

Phone:

704-364-3120

Key Executives for Piedmont Natural Gas Co. Inc.

Chairman
Age: 57
Total Annual Compensation: $842.5K
Chief Financial Officer and Senior Vice President
Age: 45
Total Annual Compensation: $404.5K
Chief Commercial Operations Officer and Senior Vice President
Age: 54
Total Annual Compensation: $425.3K
Chief Utility Operations Officer and Senior Vice President
Age: 57
Total Annual Compensation: $380.3K
Chief Administrative Officer and Senior Vice President
Age: 55
Total Annual Compensation: $365.0K
Compensation as of Fiscal Year 2013.

Piedmont Natural Gas Co. Inc. Key Developments

Piedmont Natural Gas $190 Million Investment to Expand Interstate Pipeline's Impact in N.C

Piedmont Natural Gas' N.C. utility expects to spend $190 million on pipeline and infrastructure in connection with the Atlantic Coast Pipeline in addition to the roughly $500 million its commercial side will spend. The $5 billion ACP is proposed as a joint venture of Virginia's Dominion Resources, which will build and operate the line, Duke Energy, Piedmont and AGL Resources of Atlanta. The 525-mile pipeline will be built to carry 1.5 billion cubic feet of natural gas daily from West Virginia, through Virginia to southeastern N.C.

Piedmont Natural Gas Co. Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended July 31, 2014; Reaffirms Earnings Guidance for the Year 2014

Piedmont Natural Gas Co. Inc. reported unaudited earnings results for the third quarter and nine months ended July 31, 2014. For the quarter, the company reported operating revenues of $164,187,000 against $162,943,000 a year ago. Operating income was $3,254,000 against $591,000 a year ago. Net loss was $7,344,000 against $2,293,000 a year ago. Basic and diluted loss per share was $0.09 against $0.03 a year ago. For the nine months, the company reported operating revenues of $1,284,167,000 against $1,078,229,000 a year ago. Operating income was $172,872,000 against $138,308,000 a year ago. Net income was $152,768,000 against $139,420,000 a year ago. Diluted earnings per share were $1.96 against $1.86 a year ago. The company reaffirmed its revised fiscal year 2014 earnings guidance of $1.80 to $1.90 per diluted share, with emphasis at the upper end of the range.

Piedmont Natural Gas Co. Inc. Announces Quarterly Dividend, Payable on October 15, 2014

Piedmont Natural Gas Co. Inc. announced that at its regular quarterly meeting of the company's Board of Directors announced the declaration of a quarterly dividend on common stock of 32 cents per share, payable October 15, 2014, to holders of record at the close of business on September 24, 2014.

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