Piedmont Natural Gas Sees FY16 EPS In Line With View - Quick Facts

(RTTNews) - Piedmont Natural Gas (PNY) said it initiated earnings guidance in the range of $1.92 - $2.02 per share for its fiscal year ending October 31, 2016 before any merger-related adjustments. Analysts polled by Thomson Reuters expected the company to report earnings of $1.98 per share. Analysts' estimates typically exclude special items.

For fiscal year 2016, the company expects O&M expense increases of less than 2% from fiscal year 2015 due primarily to higher payroll; Utility capital expenditures (including AFUDC) in the range of $500-$600 million; 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.