Piedmont Ceo Takes Gas Utility Case To Wall Street

摘要

With the US sinking deeper into recession and corporate stocks getting crunched, Piedmont Natural Gas President Thomas Skains went to Wall Street on Wednesday to plead the case for natural gas utilities.rnAddressing the New York Society of Security Analysts in his role as chairman of the American Gas Association, Skains stole a line from real estate tycoon and shameless self-promoter Donald Trump: In every crisis there is great opportunity.rn"Indeed, in these extremely uncertain financial and economic times, the traditional, regulated, dividend-paying natural gas utility looks like an inviting harbor in a stormy sea," he told the group.rnSkains said the industry's infrastructure is fundamental, bond ratings are good and the average dividend yield is 4.3%. "With today's focus on defensive investments, these yields are extremely attractive."