Hallador Energy Finalizes ERAS Application with $13 Million Deposit
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 16 2025
0mins
Source: Newsfilter
- Application Progress: Hallador Energy has finalized its application for the ERAS program and made a deposit of approximately $13 million, marking a significant step in expanding natural gas generation capacity at the Merom Generating Station.
- Generation Capacity Expansion: The application provides Hallador with the potential for up to 515 MW of natural gas generation, which is expected to significantly enhance the company's customer base and market share in the high-demand energy sector.
- Financing Strategy: The company is evaluating financing options and plans to secure generating infrastructure during the ERAS application review period to support future project development.
- Equity Financing Plan: Hallador has also filed a prospectus supplement to raise up to $50 million of common stock under its existing ATM program, aimed at supporting its project development and operational funding needs.
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Analyst Views on HNRG
Wall Street analysts forecast HNRG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HNRG is 28.50 USD with a low forecast of 28.00 USD and a high forecast of 29.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 18.210
Low
28.00
Averages
28.50
High
29.00
Current: 18.210
Low
28.00
Averages
28.50
High
29.00
About HNRG
Hallador Energy Company is an energy company operating in the state of Indiana. The Company's segments include Coal Operations (operated by Sunrise Coal, LLC) and Electric Operations (operated by Hallador Power Company, LLC). The Coal Operations segment includes the operating mining complexes Oaktown 1 and 2 underground mines, Prosperity surface mine, Freelandville surface mine, and Carlisle wash plant. The Electric Operations segment includes the electric power generation facilities of the Merom Power Plant. The Oaktown Mining Complex is a coal mining and processing operation located in Knox and Sullivan counties, Indiana, and Crawford and Lawrence counties, Illinois. The Oaktown Mining Complex operations consist of two active underground mines, Oaktown Fuels No. 1 Mine and Oaktown Fuels No. 2 Mine, and related infrastructure. The Company holds other recoverable coal reserves in the Illinois Basin (ILB). Its subsidiaries include Sunrise Energy, LLC, Sycamore Coal, Inc., and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Hallador Energy (HNRG) Prices $50M Public Offering at $18.00 per Share
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