Piedmont Natural Gas Reports Fiscal 2015 Earnings, Reaffirms 2016 Outlook

Piedmont Natural Gas Company, Inc. PNY on Wednesday reported its financial results for the full year fiscal 2015.

Piedmont Natural Gas reported that it earned $1.87 per share for the full fiscal year on revenue of $1.371 billion. Analysts were looking for the company to earn $1.87 per share on revenue of $1.43 billion.

Net income for the fiscal year fell to $137 million from $143.8 million a year ago. However, adjusted for merger-related expenses, net income and earnings per diluted share were $148 million and $1.87, respectively.

Looking forward to fiscal 2016, the company reaffirmed its prior earnings guidance of $1.92 to $2.02 for the full year.

Finally, Piedmont Natural Gas confirmed a $0.33 per share dividend will be payable on January 15, 2016 to investors at the close of business on December 24, 2015.

Shares of Piedmont Natural Gas were trading higher by 0.24 percent at $57.36 Wednesday morning.