Natural Gas Prices Surge 70% Amid Major Winter Storm Forecast
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 50m ago
0mins
Source: seekingalpha
- Price Surge: Front-month Nymex natural gas prices have soared over 70% to the highest level in five years, primarily due to an impending winter storm expected to impact large areas of the U.S., leading to supply-demand tightness.
- Weather Impact: Nearly 140 million people are under winter storm warnings, with the National Weather Service predicting widespread heavy snowfall and catastrophic ice storms from Texas to North Carolina, further driving natural gas demand.
- Futures Market Reaction: Natural gas futures extended their rally on Friday, adding approximately 6% to settle at $5.35, significantly up from $3.103 at the end of the previous week, reflecting strong market reactions to the anticipated cold weather.
- Household Impact: Nearly 61 million American homes rely on natural gas for heating, and 57 million homes use electricity largely generated from gas, indicating that soaring gas prices will significantly affect household heating costs.
Analyst Views on EXE
Wall Street analysts forecast EXE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EXE is 132.89 USD with a low forecast of 106.00 USD and a high forecast of 150.00 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.
21 Analyst Rating
19 Buy
2 Hold
0 Sell
Strong Buy
Current: 109.490
Low
106.00
Averages
132.89
High
150.00
Current: 109.490
Low
106.00
Averages
132.89
High
150.00
About EXE
Expand Energy Corporation is an independent natural gas producer in the United States. The Company is focused on developing a supply of natural gas, oil and natural gas liquids (LNG) to expand energy access for all. Its operations are located in Louisiana, in the Haynesville and Bossier Shales (Haynesville), in Pennsylvania in the Marcellus Shale (Northeast Appalachia) and in West Virginia and Ohio in the Marcellus and Utica Shales (Southwest Appalachia) and include interests in approximately 8,000 gross natural gas and oil wells. The Company's operations include drilling, completion, and production. It also operates drilling rigs and provides certain oilfield products and services, principally serving the Company’s E&P operations through vertical integration. Haynesville is rich in natural gas with proximity to LNG export infrastructure. The Company's operations in Ohio and West Virginia target the Marcellus and Utica shales and provide oil and natural gas liquids.
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.
