| Piedmont Natural Gas Initiates Fiscal Year 2016 Earnings Guidance | |
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CHARLOTTE, N.C., Nov. 2, 2015 /PRNewswire/ -- Piedmont Natural Gas (NYSE: PNY) is initiating earnings guidance in the range of $1.92 - $2.02 per diluted share for its fiscal year ending October 31, 2016 before any merger-related adjustments. This guidance for fiscal year 2016 reflects the following assumptions:
- Higher utility margin due to:
- Expected margin increases under the Integrity Management Riders (IMRs) in North Carolina and Tennessee;
- A $1.7 million margin increase in South Carolina under the annual rate stabilization adjustment;
- Gross utility customer additions of 1.6-2.0% in the Company's three state market area;
- Partially offset by lower wholesale secondary marketing margin due to an assumption of normal weather and additional wholesale pipeline capacity into our markets.
- O&M expense increases of less than 2% from fiscal year 2015 due primarily to higher payroll
- Higher depreciation expense and general taxes due to additional utility plant in service.
- Increased contributions from joint venture equity method investments due to increased allowance for funds used during construction (AFUDC) from the Constitution Pipeline and Atlantic Coast Pipeline projects.
- Utility AFUDC of about $13 million reflecting forecasted utility capital expenditure levels and project schedules.
- Utility capital expenditures (including AFUDC) in the range of $500-$600 million, including approximately $280 million related to system integrity projects, as well as net contributions of an additional $110 million to fund the Company's joint venture equity interests in the Constitution Pipeline and Atlantic Coast Pipeline projects.
- Higher interest expense primarily due to the full-year impact of the Company's $150 million long-term debt issuance in fiscal year 2015.
- Issuance of both new long-term debt and equity in fiscal year 2016 to maintain the Company's long term targeted capital ratios of 50% - 60% debt and 40% - 50% equity.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/piedmont-natural-gas-initiates-fiscal-year-2016-earnings-guidance-300170117.html
SOURCE Piedmont Natural Gas
Media, David L. Trusty, Piedmont Natural Gas, (704) 731-4391, [email protected], or Investor Contact: Nick Giaimo, Piedmont Natural Gas, (704) 731-4952, [email protected]
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Piedmont Natural Gas
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CODE : PNY |
ISIN : US7201861058 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Piedmont est une société basée aux Etats-Unis D'Amerique. Piedmont est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 55,2 milliards US$ (48,9 milliards €). La valeur de son action a atteint son plus bas niveau récent le 06 octobre 1995 à 10,00 US$, et son plus haut niveau récent le 13 mai 2016 à 59,95 US$. Piedmont possède 921 580 032 actions en circulation. |