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Corning Natural Gas Holding Corporation (CNIG)

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14.96+0.06 (+0.40%)
At close: 3:55PM EST
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Neutralpattern detected
Previous Close14.90
Open14.99
Bid0.00 x 0
Ask0.00 x 0
Day's Range14.90 - 14.99
52 Week Range13.06 - 21.50
Volume911
Avg. Volume3,060
Market Cap45.916M
Beta (5Y Monthly)0.52
PE Ratio (TTM)14.71
EPS (TTM)1.02
Earnings DateFeb 14, 2019
Forward Dividend & Yield0.61 (4.09%)
Ex-Dividend DateSep 29, 2020
1y Target EstN/A
  • GlobeNewswire

    Corning Natural Gas Holding Corporation Reports Improved Quarterly Earnings

    CORNING, N.Y., Aug. 14, 2020 (GLOBE NEWSWIRE) -- Corning Natural Gas Holding Corporation (OTCQX: CNIG) announced consolidated earnings of $0.497 million, or $0.16 per share for the quarter ended March 31, 2020, and earnings of $3.53 million, or $1.16 per share for the nine months ended June 30, 2020.  This compares to a consolidated loss of $0.023 million, or a loss $0.01 per share for the quarter ended March 31, 2019, and earnings of $3.25 million, or $1.07 per share for the nine months ended March 31, 2019.  CEO Mike German stated, “The company saw an increase in quarterly earnings as a result of increased margins attributable to favorable weather, gains in investment income, and reduced income tax expense compared to the same quarter in 2019. These earnings were slightly reduced by the impacts of COVID-19.” Factors contributing to earnings increases  for the fiscal year-to-date were the Corning Natural Gas rate increase and lower income tax expense, reduced somewhat by the impact of the coronavirus. Net income for the three months ended March 31, 2020 is not necessarily indicative of expected results for the fiscal year ending September 30, 2020. Quarterly earnings are affected by the highly seasonal nature of the business and weather conditions such as temperature variations.Corning Natural Gas Holding Corporation provides natural gas and electric service to customers in New York and Pennsylvania through its operating subsidiaries Corning Natural Gas, Pike County Light & Power, and Leatherstocking Gas Company.From time-to-time, Corning Natural Gas Holding Corporation may produce forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, Corning Natural Gas Holding Corporation notes that a variety of factors could cause actual results and experiences to differ materially from anticipated results or other expectations expressed in any forward-looking statements.  Investors are cautioned not to place undue reliance on forward-looking statements.Contact: Julie Lewis / 607-936-3755

  • GlobeNewswire

    Corning Natural Gas Holding Corporation Appoints New Chief Financial Officer

    CORNING, N.Y., July 14, 2020 (GLOBE NEWSWIRE) -- On July 6, 2020, Firouzeh Sarhangi (“Fi”) retired as chief financial officer (CFO), treasurer, and corporate secretary of Corning Natural Gas Holding Corporation (“Corning”). Ms. Sarhangi served as CFO since 2006. The company thanks Fi for over 20 years of superior service in positions of ever-increasing responsibility. She oversaw the company’s accounting, regulatory, and treasury functions during a period of rapid growth that included the purchase of a combination electric and natural gas utility in Pennsylvania, the building of a new gas utility in Pennsylvania, and an aggressive pipe replacement program at Corning Natural Gas in New York. On July 6, 2020, Charles Lenns joined Corning as vice president, chief financial officer, and corporate secretary. Mr. Lenns, age 67, began his professional career in the tax practice of Ernst & Young, and served clients in the firm’s power and utilities tax and merger & acquisition (M&A) practice. He was a partner with Ernst & Young from 1989 until his retirement in 2012. Mr. Lenns then served as vice president-tax for Consolidated Edison Inc. from September 2012 until his retirement in December 2018. Following his retirement from Consolidated Edison, he provided accounting consulting services through Lenns Consulting Group, LLC until he joined Corning. Mr. Lenns is a graduate of the University of Scranton, where he currently teaches in the business school. He holds a law degree from Duquesne University Law School and is a certified public accountant.Corning Natural Gas Holding Corporation is the parent company of its operating subsidiaries Corning Natural Gas, Pike County Light & Power, and Leatherstocking Gas Company. The subsidiaries provide natural gas and electric service to customers in New York and Pennsylvania.From time-to-time, Corning Natural Gas Holding Corporation may produce forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, Corning Natural Gas Holding Corporation notes that a variety of factors could cause actual results and experiences to differ materially from anticipated results or other expectations expressed in any forward-looking statements.  Investors are cautioned not to place undue reliance on forward-looking statements.Contact: Mike German 607-936-3755

  • GlobeNewswire

    Corning Natural Gas Holding Corporation Quarterly Earnings Flat

    Corning Natural Gas Holding Corporation (CNIG) announced consolidated earnings of $2.64 million or $0.81 per share fully diluted for the quarter ended March 31, 2020. This compares to consolidated earnings of $2.59 million or $0.80 per share for the quarter ended March 31, 2019. CEO Mike German stated, “The company saw flat earnings as a result of losses in investment income due to the stock market decline compared to significant gains in the same quarter last year.”