piedmont natural gas co (PNY) Key Developments
Dominion Resources, Duke Energy, Piedmont Natural Gas and AGL Resources Form Atlantic Coast Pipeline Joint Venture
Jun 29 15
Almost 110 energy companies, manufacturers, economic developers, labor unions and civic groups have joined the EnergySure Coalition to support the proposed Atlantic Coast Pipeline. The four energy companies that formed the ACP joint venture - Dominion Resources, Duke Energy, Piedmont Natural Gas and AGL Resources - have put up the money to fund the coalition. The 550-mile proposed pipeline is designed to carry natural gas from the shale fields of the Marcellus and Utica formations in Pennsylvania from West Virginia to coastal Virginia and then south through North Carolina to Robeson County. The project is expected to cost up to $5 billion. Dominion owns 45% of the joint venture, Duke owns 40%, Piedmont 15% and AGL 5%.
Piedmont Natural Gas Co. Inc. Announces Executive Changes
Jun 10 15
Piedmont Natural Gas announced the appointment of Mr. Bruce Barkley to the position of Vice President – Regulatory Affairs, Rates and Gas Cost Accounting. Mr. Barkley will join the company on August 10, 2015. The Company also announced that Mr. David Carpenter, currently Vice President - Regulatory Affairs, has been named Vice President – Regulatory Policy until his planned retirement on December 31, 2015. Prior to his appointment at Piedmont Natural Gas, Mr. Barkley served as Duke Energy's Manager – Regulatory Affairs, a position he has held since 2012. In his new role, Mr. Barkley will be responsible for regulatory relations and rates in Piedmont's three-state service area, and for the Company's gas cost accounting function. Mr. Barkley will report to Piedmont Senior Vice President and Chief Financial Officer, Karl Newlin.
Piedmont Natural Gas Co. Inc. Provides Earnings Guidance for the Year 2015 and Capital Expenditure Guidance for the Year 2016
Jun 5 15
Piedmont Natural Gas Co. Inc. provided earnings guidance for the year 2015 and capital expenditure guidance for the year 2016. For the year 2015, the company expects earnings per share of $1.82 to $1.92 per share and capital spending of $565 million.
For the year 2016, the company projects capital spending of $680 million.
Piedmont Natural Gas Co. Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended April 30, 2015
Jun 5 15
Piedmont Natural Gas Co. Inc. reported unaudited earnings results for the second quarter and six months ended April 30, 2015. For the quarter, operating revenue was $424,924,000 compared to $462,247,000 a year ago. Operating income was $75,123,000 compared to $67,299,000 a year ago. Net income was $66,402,000 or $0.84 basic and diluted per share compared $62,540,000 or $0.80 basic and diluted per share a year ago.
For the six months, operating revenue was $1,032,196,000 compared to $1,119,980,000 a year ago. Operating income was $180,882,000 compared to $169,618,000 a year ago. Net income was $159,380,000 or $2.02 basic and diluted per share compared $160,112,000 or $2.06 per diluted share a year ago.
Piedmont Natural Gas Co. Inc. Appoints Gary Garfield to the Board
Jun 5 15
The board of directors of Piedmont Natural Gas elected Gary Garfield to the board of the company. Mr. Garfield currently serves as CEO and President of Bridgestone Americas Inc. After a March 2011 election as Vice President and Senior Officer of Bridgestone Corporation, Garfield was promoted to his current role, Senior Vice President of Bridgestone Corporation, on September 1, 2014. Mr. Garfield joined Bridgestone in 1991 and previously served as Senior Counsel, Vice President, General Counsel, Chief Compliance Officer and Secretary of Bridgestone Americas in Nashville. Mr. Garfield is an active member of the Nashville community and serves as a member of the board of directors of several charitable and industry organizations, including the Tennessee Chapter of the Crohn's & Colitis Foundation.