UPDATE 1-Piedmont Natural Gas gives 2010 outlook, shares up
* Sees FY10 EPS of $1.90-$2.00/shr, vs $1.62 Wall St view
* Shares rise 5 pct in after-hours trading
SAN FRANCISCO, Nov 2 (Reuters) - Piedmont Natural Gas (PNY.N), which distributes gas to residential customers and businesses, gave guidance for the year ahead that comfortably topped analysts' estimates, and its shares rose 5 percent.
The company said it expected earnings of $1.90 to $2.00 per share for the fiscal year to Oct. 31, 2010, including a one-time gain of 42 cents from a previously announced sale of half its 30 percent stake in SouthStar Energy Services.
Analysts had been expecting fiscal 2010 earnings per share of $1.62 on average, according to Thomson Reuters I/B/E/S.
Piedmont said its expects fiscal 2010 utility capital expenditure of $195.4 million, including $46.3 million for pipeline infrastructure to serve two gas-fired power plants in North Carolina.
The Charlotte-based company also expects margin growth from new customers of 1.3 percent in its service areas, which include South Carolina and Tennessee as well as its home state.
Shares of Piedmont, which closed 0.8 percent lower at $23.10 on Monday on the New York Stock Exchange, rose to $24.20 in thin, after-hours trading.
The company reported a loss for its third quarter ended July 31. [ID:nBNG497046] (Reporting by Braden Reddall, editing by Leslie Gevirtz)
