The recent surge in natural gas prices could cause utilities to make the switch back to coal. According the U.S. Energy Information Administration coals share of power generation in the U.S. could reach 40.3 percent, while natural gas generation could fall to 27.0 percent. In 2012, Coal’s share of electricity generation hit a record low of 37.0 percent, as natural gas prices hit a 10-year low of $1.902. Natural gas prices have since recovered to $4.661 per million British thermal units. Here is how some coal stocks reacted Thursday:
Peabody Energy Corporation (NYSE: BTU) shares traded in the range of $17.22 to $17.71 Thursday before settling to close at $17.63, an increase of 2.44 percent. The stock appears to be facing some resistance at the $17.84 and $18.21 levels with some support at $17.35 and $16.93. Shares of Peabody Energy have fallen approximately 10.0 percent year-to-date.
More information on Peabody Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/BTU
Cloud Peak Energy Inc. (NYSE: CLD) shares traded in the range of $19.33 to $19.74 Thursday before settling to close at $19.61, an increase of 1.19 percent. The stock appears to be facing some resistance at $19.89 with some support at the $19.35 and $18.89 levels. Shares of Cloud Peak Energy have gained approximately 9.0 percent year-to-date.
More information on Cloud Peak Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/CLD
CONSOL Energy Inc. (NYSE: CNX) shares traded in the range of $39.84 to $40.69 Thursday before settling to close at $40.64, an increase of 2.08 percent. The stock appears to have some support at the $40.24, $38.89 and $38.44 levels. Shares of CONSOL Energy have gained approximately 7.0 percent year-to-date.
More information on CONSOL Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/CNX
Natural Resource Partners LP (NYSE: NRP) shares traded in the range of $15.28 to $15.50 Thursday before settling to close at $15.35, an increase of 0.07 percent. The stock appears to be facing some resistance at the $15.77 and $18.27 levels with some support at $15.24. Shares of Natural Resource Partners have fallen approximately 23.0 percent year-to-date.
More information on Natural Resource Partners and access to the free equity report can be found at: www.WallStreetFundamentals.com/NRP
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