RE:PNEKeecar wrote: Is this a sell off after the ex-dividend date? Doesn't make sense otherwise. The chart looks great and the price of natural gas is on the climb. Thoughts anyone? Keecar
I'm in the camp that says natgas and PNE have a future!
Having said that, I think the market sentiment is totally unsure of the floor price for both oil & gas and until the floor is found, we will have the commodity and stock price swings that we have seen over the past few weeks. In my mind, tight supply + a healthy demand jnto the future equates to a higher price for natural gas and oil.
PNE is presently debt free, offers a great dividend yield and an abundance of FCF. Q3 and even Q4 should show fantastic #s for PNE and I wouldn't be surprised at all to see a dividend increase or a special dividend declared.
When investors finally realize that higher natural gas prices are going to be around for some time, PNE will re-rate and command a much higher stock price.