Corning Energy Expectations for 2026 | Price, Valuation & Forecast

Corning Energy

OTCPK:CNIG

$ 24,70

+ $0,45 (1,86%)

24,70 $

+$0,45 (1,86%)

End-of-day quote: 07/11/2022

Corning Energy Stock Value

The analyst rating for OTCPK:CNIG is currently sf_Data Unavailable.

Corning Energy Company Info

EPS Growth 5Y

0,00%

Market Cap

$0,07 B

Long-Term Debt

$0,00 B

Short Interest

0,00%

Quarterly earnings

N/A

Dividend

$0,00

Dividend Yield

0,00%

Founded

1904

Industry

Energy

Country

United States

ISIN Number

US2193871074

Website

http://www.corninggas.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

There are currently no price targets available for this stock.

In the last five quarters, Corning Energy’s Price Target has risen from $0,00 to $24,70 - a 100,00% increase.

Top growth stocks in the energy sector (5Y.)

What does Corning Energy do?

Corning Energy Corporation, through its subsidiaries, engages in the natural gas and electric distribution business. The company’s subsidiaries include Corning Natural Gas Corporation (Corning Gas or the Gas Company), Pike (Pike County Light & Power Company) and the Leatherstocking Companies (Leatherstocking Gas Company, LLC and Leatherstocking Pipeline Company, LLC). Corning Gas serves approximately 15,000 residential, commercial, industrial and municipal customers in the Corning, Hammondspor...

Corning Energy Corporation, through its subsidiaries, engages in the natural gas and electric distribution business.

The company’s subsidiaries include Corning Natural Gas Corporation (Corning Gas or the Gas Company), Pike (Pike County Light & Power Company) and the Leatherstocking Companies (Leatherstocking Gas Company, LLC and Leatherstocking Pipeline Company, LLC).

Corning Gas serves approximately 15,000 residential, commercial, industrial and municipal customers in the Corning, Hammondsport and Virgil, New York, areas and two other gas utilities, which serve the Elmira and Bath, New York areas. It is franchised to supply gas service in all the political subdivisions in which it operates. The Gas Company is under the jurisdiction of the New York Public Service Commission (NYPSC), which oversees and sets rates for New York gas distribution companies. In addition, the Gas Company has contracts with Corning Incorporated and Woodhull Municipal Gas Company, a small local utility, to provide maintenance service on their gas lines.

Pike is an electric and gas utility regulated by the Pennsylvania Public Utility Commission (PAPUC). Pike provides electric service to approximately 4,900 customers in the Townships of Westfall, Milford, the northern part of Dingman, and in the Boroughs of Milford and Matamoras. Pike provides natural gas service to 1,300 customers in Westfall Township and the Borough of Matamoras. All these communities are located in Pike County, Pennsylvania.

Additionally, Leatherstocking Gas is also regulated by the PAPUC and distributes gas in Susquehanna and Bradford counties, Pennsylvania. Leatherstocking Pipeline, an unregulated company, has served one customer in Lawton, Pennsylvania. Leatherstocking NY has an application pending before the NYPSC for authority to provide gas distribution services in Broome County, New York.

Gas and Electric Supply

Corning Gas has contracted with various sources to provide natural gas to the company’s distribution system. The Gas Company contracts for pipeline capacity, as well as storage capacity of approximately 736,000 dekatherms. The company manages its transportation and storage capacity with internal resources. Pike has contracted with Orange and Rockland Utilities, Inc. to provide electricity and natural gas according to agreements until August 2022, subject to renewal. Leatherstocking Gas has a supply agreement with Cabot Oil and Gas that expires in August of 2026.

Corning Gas secured the NYPSC-required fixed price and storage gas supply for the 2021-2022 winter season and is managing its storage and gas supply contracts following its gas supply and acquisition plan.

Customers

The Gas Company has three major customers, Corning Incorporated, New York State Electric & Gas, and Bath Electric, Gas & Water Systems. In total, these customers accounted for approximately 14.98% of the Gas Company’s revenues in the year ended September 30, 2021.

Seasonality

The company’s business is seasonal in nature, and sales for each quarter (year ended September 2021) of the year vary and are not comparable. Sales vary depending on seasonal variations in temperature. Gas sales peak in the winter, while Pike’s electric sales peak in the summer.

History

Corning Energy Corporation was founded in 1904. The company was incorporated in New York in 1904.

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Corning Energy Stock Value

Corning Energy Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the energy sector (5Y.)

What does Corning Energy do?

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New support ticket

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Corning Energy Stock Value

Corning Energy Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the energy sector (5Y.)

What does Corning Energy do?

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.