Piedmont Natural Gas Company (PNY) Releases Earnings Results, Misses Expectations By $-0.06 EPS

Piedmont Natural Gas Company (PNY) reported quarterly earnings results on Wednesday, Jun-8-2016. The company reported $0.78 earnings per share for the quarter, missing the analyst consensus estimate by $-0.06. Analysts had a consensus of $0.84. The company posted revenue of $350.20 million in the period, compared to analysts expectations of $419.80 million. The company’s revenue was down -17.6% compared to the same quarter last year.

Piedmont Natural Gas Company opened for trading at $60.05 and hit $60.26 on the upside on Tuesday, eventually ending the session at $60.25, with a gain of 0.13% or 0.08 points. The heightened volatility saw the trading volume jump to 2,37,418 shares. Company has a market cap of $4,885 M.

In a different news, on Jun 3, 2016, Kenneth T Valentine (Vice President) sold 1,482 shares at $59.24 per share price. According to the SEC, on Apr 26, 2016, R O Pritchard (Vice President) sold 3,300 shares at $59.60 per share price. On Apr 5, 2016, Frank B Jr Holding (director) sold 14,000 shares at $59.79 per share price, according to the Form-4 filing with the securities and exchange commission.

Piedmont Natural Gas Company Inc. is an energy services company whose principal business is the distribution of natural gas to over one million residential commercial industrial and power generation customers in portions of North Carolina South Carolina and Tennessee including customers served by municipalities who are the Company’s wholesale customers. The Company is invested in joint venture energy-related businesses including unregulated retail natural gas marketing and regulated interstate natural gas storage and intrastate natural gas transportation. The Company operates in two segments: regulated utility and non-utility activities. The regulated utility segment is the gas distribution business where it includes the operations of merchandising and its related service work and home warranty programs with activities conducted by the utility. The non-utility activities segment consists of the Company’s equity method investments in joint venture energy-related businesses.

Piedmont Natural Gas Company

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