Impact of Freezing Conditions: Analysts at IHS Markit noted that freezing conditions in the U.S. could significantly affect natural gas output, recalling a major decline in February 2021 when output fell by 7% month-on-month.
Current Natural Gas Storage Levels: Despite the potential disruptions, U.S. natural gas storage remains at comfortable levels, with current storage at 3.19 trillion cubic feet, which is 1% higher year-on-year.
Natural Gas Futures Trends: Natural gas futures have been climbing, with prices increasing over 14% amid the cold weather, reaching $5.65 per million British thermal units.
Weather Forecast and Demand: A dangerous cold weather system is expected to impact the Midwest, Plains, and Texas, leading to increased heating demand, while overall national demand is projected to be moderate to very high.
Wall Street analysts forecast UNG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for UNG is USD with a low forecast of USD and a high forecast of 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.
0 Analyst Rating
Wall Street analysts forecast UNG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for UNG is USD with a low forecast of USD and a high forecast of 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.
0 Buy
0 Hold
0 Sell
Current: 13.640
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Current: 13.640
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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.
