Piedmont Natural Gas Q1 Profit Declines; Reaffirms FY15 EPS Outlook

(RTTNews) - Piedmont Natural Gas Co. Inc. (PNY) reported a first-quarter net income of $92.98 million or $1.18 per share, compared to $97.57 million or $1.26 per share in the year-ago quarter. On average, analysts polled by Thomson Reuters expected the company to earn $1.22 per share. Analysts' estimates typically exclude special items.

Operating revenues for the latest first quarter declined 8% to $607.27 million from $657.73 million in the prior-year period.

The company reaffirmed its fiscal year 2015 earnings guidance of $1.82 to $1.92 per share. Analysts currently expect the company to earn $1.87 per share for the fiscal year 2015.

On 5 March, the Board of Directors approved an increase in the company's quarterly dividend on Common Stock. The new quarterly dividend of $0.33 per share will be payable on April 15, 2015 to holders of record at the close of business on March 25, 2015.