RE:SOLD ! Are you in the money or taking a loss at current pricing? If in the money... maybe take your profit?
if in a long term position which was bought at much higher historical levels (dead money)... consider selling at current elevated pricking since you're not a believer in the business plan based on current market dynamics.
Those of us that bought in the low teens are happy. My percentage return on PNE is better then TOU which I bought at the same time.
The results of one opinion really rests on where the stock price was at the time of purchase. The fundamentals for natural gas stocks looks good going into the fall and winter. There is likely significant upside for gassy stocks. If PNE can shed some debt maybe and increase production there will be further stock appreciation.
look at the cash generation they have compared to historicals and the cash flow multiples they were trading at. Multiples are still low across the industry with expected further growth expected on nat gas prices... resulting cash flows and perhaps better multiples.
TOU has in my opinion a better business plan and long term outlook than PNE. But PNE still has a better potential % price increase if cash flow multiples for the general industry improve. I'm expecting at least 20%-40% appreciation into the fall period. August is pivotal for storage...
1) LNG exports to Europe and Asia will continue to hold through out the summer and fall.
2) Pipeline exports to Mexico continue to expand and increase thanks to both addition pipeline capacity and new distribution to households and businesses.
3) Power generation shift back to coal is less than expected to date. It is happening but at muted levels due to continued decor from ESG/environment sensitive politians.
4) weather is the wild card! A hot summer and particularly in August-September when temperatures typically moderate would set up the Natural gas industry for a solid winter run.
At current weekly storage injection vs production 10 weeks) we are seeing the 3rd lowest injection season in 20 yrs.