piedmont natural gas co (PNY) Snapshot

Piedmont Natural Gas Co. Inc. announced unaudited earnings results for the second quarter and six months ended April 30, 2013. For the quarter, the company reported net income of $55,790,000 or $0.74 per basic and diluted share compared with $50,192,000 or $0.70 per basic and diluted share for the same period a year ago. The company reported operating revenues of $399,411,000 and operating income of $51,504,000 compared to operating revenues of $308,432,000 and operating income of $48,782,000 for the same period last year. For the six months, the company reported net income of $141,713,000 or $1.91 per diluted share compared with $126,419,000 or $1.75 per diluted share for the same period a year ago. The company reported operating revenues of $915,286,000 and operating income of $137,717,000 compared to operating revenues of $780,272,000 and operating income of $128,601,000 for the same period last year. The company reaffirms its fiscal year 2013 earnings guidance of $1.67 to $1.77 per diluted share. At its regular quarterly meeting of the Board of Directors, the company announced the declaration of a quarterly dividend on common stock of 31 cents per share, payable on July 15, 2013 to holders of record at the close of business on June 24, 2013.

Piedmont Natural Gas Co. Inc., Board Meeting, Jun 07, 2013. Agenda: To consider and approve quarterly dividend.

Piedmont Natural Gas Co. Inc. announced the completion of its Sutton Pipeline Project, which will provide natural gas delivery service to a new combined cycle power generation facility near Wilmington, North Carolina. The pipeline project, first announced in April 2010, involved the construction of 120 miles of 20-inch natural gas transmission pipeline, 8 miles of 30-inch natural gas transmission pipeline, and approximately 25,000 HP of additional compression facilities on Piedmont's system. The new natural gas pipeline, in addition to serving the requirements of the new power generation facility, will also create cost effective expansion capacity that Piedmont will use to help serve the growing natural gas requirements of its other customers in the eastern part of North Carolina.