Corning Natural Gas Holding Corporation
CNIGP
Other OTC29.50
USD
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Corning Natural Gas Holding Corporation
CNIGP
(Other OTC)
Recent
price
29.50
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Similar Companies
- Business
- Corning Natural Gas Holding Corporation is a holding company primarily engaged in providing natural gas and electric utility services through its subsidiaries. The company operates natural gas distribution and transportation services via Corning Natural Gas Corporation, natural gas and electric service through Pike County Light & Power Company, and natural gas distribution through Leatherstocking Gas Development Corporation and Leatherstocking Pipeline Company in the states of New York and Pennsylvania. Its main products and services include natural gas commodity sales and transportation, electric utility service, pipeline operations, and unbundled energy services. Corning Natural Gas serves approximately 15,000 residential, commercial, industrial, and municipal customers primarily in the Southern Tier of New York State and parts of northeastern Pennsylvania. Founded in 2013 and headquartered in Corning, New York, the company maintains a strong focus on safety, reliable service, and customer satisfaction. Corning Natural Gas Holding Corporation continues to operate with its existing management, employees, and service commitments. A major recent development for Corning Natural Gas Holding Corporation was its acquisition by Argo Infrastructure Partners, LP in July 2022. This acquisition, involving the purchase of all common and preferred shares, positions the company to access long-term capital for significant investments in utility infrastructure. The transaction aims to support critical infrastructure enhancements including pipeline replacements and electric grid resilience projects, benefiting the company's customers and communities served. Despite the change in ownership, Corning maintains its operational continuity with no expected changes to customer service or staffing. This strategic acquisition reflects a commitment to infrastructure investment and long-term growth in its regulated utility operations. Overall, Corning Natural Gas Holding Corporation operates as a diversified utility holding company in the natural gas and electric sectors, with key subsidiaries delivering commodity gas sales, transportation services, electric service, and infrastructure operations across New York and Pennsylvania markets.