September 29, 2016 5:15 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. 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 utility customers in North Carolina, South Carolina, and Tennessee, including whole...

4720 Piedmont Row Drive

Charlotte, NC 28210

United States

Founded in 1949

1,975 Employees

Phone:

704-364-3120

Key Executives for Piedmont Natural Gas Co. Inc.

Chairman, Chief Executive Officer and President
Age: 59
Total Annual Compensation: $894.1K
Chief Financial Officer and Senior Vice President
Age: 47
Total Annual Compensation: $440.9K
Senior Vice President and Chief Commercial Officer
Age: 56
Total Annual Compensation: $451.5K
Chief Administrative Officer and Senior Vice President
Age: 57
Total Annual Compensation: $387.6K
Chief Legal, Compliance & External Relations Officer and Senior Vice President
Age: 49
Total Annual Compensation: $381.4K
Compensation as of Fiscal Year 2015.

Piedmont Natural Gas Co. Inc. Key Developments

Piedmont Natural Gas Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended July 31, 2016; Reaffirms Earnings Guidance for the Fiscal Year 2016

Piedmont Natural Gas reported unaudited earnings results for the third quarter and nine months ended July 31, 2016. For the quarter, the company reported operating revenues of $157,806,000 against $158,266,000 a year ago. Operating income was $6,655,000 against $5,233,000 a year ago. Net loss was $6,730,000 against $8,260,000 a year ago. Basic and diluted loss per share was $0.08 against $0.10 a year ago. For the nine months, the company reported operating revenues of $969,329,000 against $1,190,462,000 a year ago. Operating income was $187,927,000 against $186,114,000 a year ago. Net income was $154,492,000 against $151,120,000 a year ago. Diluted earnings per share were $1.90 against $1.91 a year ago. The company reaffirmed its fiscal year 2016 earnings guidance of $1.90 to $1.95 per diluted share before any merger-related expenses.

Piedmont Natural Gas Announces Special Contingent Dividend, Payable on January 13, 2017

Piedmont Natural Gas announced the declaration of a special contingent dividend on the outstanding shares of its common stock of $0.34 per share, subject to proration as described below. This dividend is payable on the earlier of the effective date of the acquisition of Piedmont Natural Gas by Duke Energy Corporation (Effective Time) and January 13, 2017 and will be payable to holders of record at the close of business on the earlier of the business day immediately preceding the effective time and December 23, 2016.

Piedmont Natural Gas Announces Regular Quarterly Dividend, Payable on October 14, 2016

Piedmont Natural Gas announced the declaration of a dividend on the outstanding shares of its common stock of $0.34 per share, payable on the earlier of the effective date of the acquisition of Piedmont Natural Gas by Duke Energy Corporation (Effective Time) and October 14, 2016. This dividend will be payable to holders of record at the close of business on the earlier of the business day immediately preceding the effective time and September 23, 2016.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 26, 2015
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