OTCPK:CNIG

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Corning Natural Gas Holding

Executive Summary

Corning Natural Gas Holding Corporation, through its subsidiaries, distributes natural gas and electricity.


Snowflake Analysis

Average dividend payer with acceptable track record.


Similar Companies

Share Price & News

How has Corning Natural Gas Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CNIG has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

CNIG

-2.5%

US Gas Utilities

2.3%

US Market


1 Year Return

-22.8%

CNIG

-24.0%

US Gas Utilities

6.7%

US Market

Return vs Industry: CNIG exceeded the US Gas Utilities industry which returned -24% over the past year.

Return vs Market: CNIG underperformed the US Market which returned 6.7% over the past year.


Shareholder returns

CNIGIndustryMarket
7 Day0%-2.5%2.3%
30 Day-9.5%-1.6%7.4%
90 Dayn/a-7.9%17.9%
1 Year-20.2%-22.8%-21.7%-24.0%9.0%6.7%
3 Year-6.2%-14.6%-4.6%-12.0%36.6%27.7%
5 Year18.8%1.1%36.4%19.0%64.2%46.1%

Price Volatility Vs. Market

How volatile is Corning Natural Gas Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Corning Natural Gas Holding undervalued compared to its fair value and its price relative to the market?

18.48x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CNIG ($16.01) is trading above our estimate of fair value ($12.42)

Significantly Below Fair Value: CNIG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CNIG is good value based on its PE Ratio (18.5x) compared to the US Gas Utilities industry average (21.5x).

PE vs Market: CNIG is poor value based on its PE Ratio (18.5x) compared to the US market (16.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CNIG's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CNIG is good value based on its PB Ratio (1.3x) compared to the US Gas Utilities industry average (1.6x).


Next Steps

Future Growth

How is Corning Natural Gas Holding forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

17.6%

Forecasted Utilities industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Corning Natural Gas Holding has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Corning Natural Gas Holding performed over the past 5 years?

6.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CNIG has high quality earnings.

Growing Profit Margin: CNIG's current net profit margins (8.1%) are higher than last year (8.1%).


Past Earnings Growth Analysis

Earnings Trend: CNIG's earnings have grown by 6% per year over the past 5 years.

Accelerating Growth: CNIG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CNIG had negative earnings growth (-10.6%) over the past year, making it difficult to compare to the Gas Utilities industry average (2.1%).


Return on Equity

High ROE: CNIG's Return on Equity (6.9%) is considered low.


Next Steps

Financial Health

How is Corning Natural Gas Holding's financial position?


Financial Position Analysis

Short Term Liabilities: CNIG's short term assets ($9.8M) do not cover its short term liabilities ($10.9M).

Long Term Liabilities: CNIG's short term assets ($9.8M) do not cover its long term liabilities ($69.6M).


Debt to Equity History and Analysis

Debt Level: CNIG's debt to equity ratio (130.7%) is considered high.

Reducing Debt: CNIG's debt to equity ratio has increased from 78.3% to 130.7% over the past 5 years.

Debt Coverage: CNIG's debt is not well covered by operating cash flow (12.6%).

Interest Coverage: CNIG's interest payments on its debt are well covered by EBIT (3.1x coverage).


Balance Sheet


Next Steps

Dividend

What is Corning Natural Gas Holding current dividend yield, its reliability and sustainability?

3.81%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CNIG's dividend (3.81%) is higher than the bottom 25% of dividend payers in the US market (1.68%).

High Dividend: CNIG's dividend (3.81%) is low compared to the top 25% of dividend payers in the US market (4.6%).


Stability and Growth of Payments

Stable Dividend: CNIG's dividends per share have been stable in the past 10 years.

Growing Dividend: CNIG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (67.8%), CNIG's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

13.6yrs

Average management tenure


CEO

Mike German (69yo)

13.58yrs

Tenure

US$226,778

Compensation

Mr. Michael I. German, also known as Mike, has been the President and Chief Executive Officer of Corning Natural Gas Holding Corporation (formerly known as Corning Natural Gas Corporation) since December 2 ...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD226.78K) is below average for companies of similar size in the US market ($USD614.21K).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Michael German
CEO, President & Director13.58yrsUS$226.78k18.45% $9.0m
Firouzeh Sarhangi
CFO, Treasurer & Corporate Secretary14.5yrsUS$242.31k0.16% $77.8k
Matthew Cook
Vice President of Operations & Customer Service12.42yrsUS$215.79k0.068% $33.4k
Russell Miller
Vice President of Energy Supply & Business Developmentno dataUS$222.73k0.063% $31.0k

13.6yrs

Average Tenure

59.5yo

Average Age

Experienced Management: CNIG's management team is seasoned and experienced (13.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michael German
CEO, President & Director13.58yrsUS$226.78k18.45% $9.0m
Henry Cook
Independent Chairman of the Board7.5yrsUS$27.11k1.32% $647.8k
John Williamson
Independent Director9.67yrsUS$27.11k0.69% $337.2k
Joseph Mirabito
Independent Director9.67yrsUS$27.11k2.13% $1.0m
Robert Johnston
Independent Director6yrsUS$27.11k0.58% $283.5k
Ted Gibson
Independent Director13.67yrsUS$27.11k5.11% $2.5m
George Welch
Independent Director13.17yrsUS$27.11k0.86% $421.1k
William Mirabito
Independent Director9.67yrsUS$27.11k2.18% $1.1m

9.7yrs

Average Tenure

67.5yo

Average Age

Experienced Board: CNIG's board of directors are considered experienced (9.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Corning Natural Gas Holding Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Corning Natural Gas Holding Corporation
  • Ticker: CNIG
  • Exchange: OTCPK
  • Founded: 1904
  • Industry: Gas Utilities
  • Sector: Utilities
  • Market Cap: US$49.033m
  • Shares outstanding: 3.06m
  • Website: https://www.corninggas.com

Number of Employees


Location

  • Corning Natural Gas Holding Corporation
  • 330 West William Street
  • Corning
  • New York
  • 14830
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CNIGOTCPK (Pink Sheets LLC)YesNew Common StockUSUSDJan 1975
CNIG.POTCPK (Pink Sheets LLC)PFD CNV B 4.8%USUSDOct 2016
CNIG.OOTCPK (Pink Sheets LLC)PFD SER AUSUSDOct 2016

Biography

Corning Natural Gas Holding Corporation, through its subsidiaries, distributes natural gas and electricity. The company offers natural gas to approximately 15,000 customers through approximately 425 miles of distribution main and 86 regulating stations; and electricity to approximately 4,800 customers through approximately 160 miles of electric distribution wire and poles, and 21 miles of gas distribution pipe. It serves residential, commercial, industrial, and municipal customers in the Corning, Hammondsport, and Virgil areas, as well as in Pike county; and distributes to two other gas utilities that serve the Elmira and Bath areas of New York. The company was founded in 1904 and is headquartered in Corning, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/12 00:14
End of Day Share Price2020/07/02 00:00
Earnings2020/03/31
Annual Earnings2019/09/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.