The South African international starred with a try and a further 16 points from the boot as the Irish club ran away with it in the second half despite spending most of the first behind their Welsh counterparts.
Starting in his more unfamiliar position of fly-half, Pienaar conducted proceedings as Tom Court, Nick Williams, Darren Cave, Andrew Trimble and Jared Payne all went over for the bonus point win.
Andy Tuilagi replied for the Dragons and Tom Prydie added 14 including four penalties and despite the comfortable win, Pienaar was under no illusion that is was the perfect performance at Rodney Parade.
"I thought the guys played really well in stages but I thought we forced a couple of passes and made a few mistakes," he said.
"In the second half I felt we could have scored a couple more tries but we are happy with the win. It is not an easy place to come and play.
"Obviously we are very happy with eight out of eight but there is still improvement to be made and a lot to work on and hopefully we will improve as the season goes on.
"I was lucky with the charge-down but it is always nice to get on the score sheet although the main thing was that it was a good team performance."
The defeat left the Dragons second from bottom with only Italian side Zebre below them and despite the tight first half they were unable to deal with the power of the Ulster team as the game wore on.
And Newport coach Darren Edwards insists his side will battle on despite their home defeat to making it just one win in eight games so far this season.
"We played against a very good team who are strong in many facets of their game and the pressure told," he said.
"They were very clinical and turned on the power when they needed to and they have many dimensions so it was really tough.
"All we can do is prepare the team and we will keep on battling now.
"We need to keep our heads on because there are many more months left which give us an opportunity to change things."
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