Last $37.65 USD
Change Today +0.30 / 0.80%
Volume 197.4K
PNY On Other Exchanges
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As of 8:04 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

piedmont natural gas co (PNY) Snapshot

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11/5/14 - $38.48
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piedmont natural gas co (PNY) Details

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 customers served by municipalities. Piedmont Natural Gas Company, Inc. was founded in 1949 and is headquartered in Charlotte, North Carolina.

1,868 Employees
Last Reported Date: 09/5/14
Founded in 1949

piedmont natural gas co (PNY) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $842.5K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $404.5K
Chief Commercial Operations Officer and Senio...
Total Annual Compensation: $425.3K
Chief Utility Operations Officer and Senior V...
Total Annual Compensation: $380.3K
Chief Administrative Officer and Senior Vice ...
Total Annual Compensation: $365.0K
Compensation as of Fiscal Year 2013.

piedmont natural gas co (PNY) Key Developments

Piedmont Natural Gas Co. Inc. Provides Earnings Guidance for the Fiscal Year Ending October 31, 2015

Piedmont Natural Gas Co. Inc. provided earnings guidance for the fiscal year ending October 31, 2015. For the period, the company expected higher depreciation expense due to additional utility plant in service. Utility capital expenditures in the range of $450 million - $550 million, including approximately $250 million related to system integrity projects, as well as an additional $75 million-$125 million to fund the company's joint venture equity interest in the Constitution Pipeline and Atlantic Coast Pipeline projects. Higher interest expense primarily due to the full-year impact of the company's $250 million long-term debt issuance in fiscal year 2014.

Piedmont Natural Gas Receives Regulatory Approval for Atlantic Coast Pipeline Agreements

Piedmont Natural Gas received regulatory approval from the North Carolina Utilities Commission (NCUC) for its affiliate agreements with the Atlantic Coast Pipeline (ACP). Since Piedmont Natural Gas is both a financial partner and a customer of the proposed natural gas pipeline, Piedmont's affiliate agreements with ACP are subject to NCUC approval. Approval of the agreements represents a key step in the overall regulatory approval process. Ultimate approval for the natural gas pipeline project rests with the Federal Energy Regulatory Commission. The proposed natural gas pipeline would transport natural gas from the prolific Marcellus shale production region in West Virginia, Ohio and Pennsylvania, and deliver it through a 550-mile long natural gas pipeline constructed through parts of West Virginia, Virginia, and North Carolina. The new natural gas pipeline would be the second major interstate pipeline serving the state of North Carolina and is proposed to be in service by late 2018.

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.


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