Piedmont Natural Gas Company (PNY) Releases Earnings Results, Beats Expectations By $0.03 EPS

Piedmont Natural Gas Company (PNY) announced its most recent quarterly financial results on Wednesday, Sep-7-2016. PNY said it had a profit of $-0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.10. The company posted revenue of $157.81 million in the period, compared to analysts expectations of $167.76 million. PNY’s revenue was down -.3% compared to the same quarter last year.

Piedmont Natural Gas Company closed down -0.09 points or -0.15% at $60.01 with 2,30,892 shares getting traded on Thursday. Post opening the session at $60.03, the shares hit an intraday low of $60 and an intraday high of $60.04 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Aug 2, 2016, Kevin M Ohara (Sr. Vice President) sold 5,000 shares at $59.78 per share price. According to the SEC, on Jun 14, 2016, Malcolm E Iii Everett (director) sold 15,000 shares at $60.15 per share price. On Jun 3, 2016, Kenneth T Valentine (Vice President) sold 1,482 shares at $59.24 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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