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July 07, 2015 4:37 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 three segments: Regulated Utility, Regulated Non-Utility Activities, and Unregulated 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. The company serves approximately one million residential, commercial, industrial, and power generation customers in of North Carolina, South Carolina, and Tennessee,...

4720 Piedmont Row Drive

Charlotte, NC 28210

United States

Founded in 1949

1,932 Employees

Phone:

704-364-3120

Key Executives for Piedmont Natural Gas Co. Inc.

Chairman, Chief Executive Officer and President
Age: 58
Total Annual Compensation: $868.0K
Chief Financial Officer and Senior Vice President
Age: 46
Total Annual Compensation: $426.6K
Chief Commercial Officer and Senior Vice President
Age: 55
Total Annual Compensation: $438.4K
Chief Utility Operations Officer and Senior Vice President
Age: 58
Total Annual Compensation: $380.3K
Chief Administrative Officer and Senior Vice President
Age: 56
Total Annual Compensation: $376.3K
Compensation as of Fiscal Year 2014.

Piedmont Natural Gas Co. Inc. Key Developments

Dominion Resources, Duke Energy, Piedmont Natural Gas and AGL Resources Form Atlantic Coast Pipeline Joint Venture

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

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

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.

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