Natural gas is a fossil fuel that is primarily composed of methane and is used as a source of energy for heating, cooking, and generating electricity. It is an abundant and relatively clean source of energy, producing less carbon dioxide than coal or oil when burned. Natural gas is also becoming increasingly popular as a transportation fuel, particularly in the form of compressed natural gas (CNG) and liquefied natural gas (LNG).
Moving along, natural gas stocks refer to the stocks of companies involved in the exploration, production, and distribution of natural gas. These companies may also focus on the development of natural gas-related infrastructure, such as pipelines and processing facilities. Investing in natural gas stocks can be a good way to gain exposure to the energy sector and benefit from the growth of the natural gas industry.
However, it’s important to remember that the prices of natural gas can be volatile, and that the industry is subject to changes in regulations and geopolitical developments. It’s also important to consider the financial health and performance of the specific companies in which you are considering investing, as well as the current market trends and future outlook for the industry. Considering all of this, let’s look at three top natural gas stocks to watch in the stock market this month.
Natural Gas Stocks To Buy [Or Sell] In 2023
Kinder Morgan (KMI Stock)
To begin, Kinder Morgan Inc. (KMI) is one of the largest energy infrastructure companies in North America. The company operates pipelines and terminals that transport and store natural gas, gasoline, crude oil, and other products. Kinder Morgan has a diversified portfolio of assets. Also, the company engages in the transportation and storage of energy products.
Last month, Kinder Morgan (KMI) reported its fourth quarter 2022 financial results. In it, the company posted Q4 2022 earnings of $0.31 per share on revenue of $4.6 billion. The earnings met the consensus estimate of $0.31 per share, while the revenue slightly missed the expected $4.9 billion. Despite missing the revenue estimate, the company showed a year-over-year growth of 3.5%. Kinder Morgan also provided its earnings outlook for 2023, expecting to earn approximately $1.12 per share.
So far in 2023, shares of KMI stock are up modestly by 0.61% year-to-date. While, during Friday morning’s trading session, KMI stock is green on the day by 0.72% at $18.12 a share.
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EQT Corporation (EQT Stock)
Next, EQT Corporation (EQT) is a leading producer of natural gas in the United States. The company operates in the Appalachian Basin and is focused on the exploration and production of natural gas and natural gas liquids. EQT is one of the largest natural gas producers in the U.S.
On Thursday of this week, EQT Corporation announced it has declared a quarterly cash dividend of $0.15 per share. The dividend will be payable on March 1, 2023 to shareholders of record at the close of business on February 21, 2023. This dividend declaration by EQT shows the company’s commitment to returning value to its shareholders and supports the continued growth of the business. this represents an annual dividend yield of 1.91% for shareholders.
With that, during Friday’s mid-morning trading session, EQT stock has advanced by 2.26% on the day, currently trading at $31.20 a share.
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Range Resources Corp. (RRC Stock)
Last but not least, Range Resources Corporation (NYSE: RRC) is an independent natural gas and oil company. To start, the company focuses on the exploration and production of natural gas, natural gas liquids, and oil. The company operates in the Marcellus and Utica shale formations and has a strong presence in the Appalachian Basin.
Just this week, Range Resources announces its fourth quarter 2022 producting and pricing. In detail, the company revealed revealing that its production averaged 2,204 Mmcfe per day. This comes with natural gas production averaging 1,517 Mmcf per day, NGL production averaging 107,806 barrels per day, and oil and condensate production averaging 6,696 barrels per day.
Year-to-date, shares of RRC stock have recoverec by 6.61% thus far. Meanwhile, during Friday’s mid-morning trading action, RRC stock is trading higher by 1.47% on the day at $24.88 per share.
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