Recommendation Despite warm winter and a shutdown for 8 months of the Freeport LNG terminal, when announcing their year end results, PNE did not cut their 10% dividend or production. Do they hedge any of their production and is it a buy?
PNE references hedges in its annual report and has various contracts in place to October 2023. It notes it is debt free and is protected fully to $2.30 gas prices. It is not risk free but we would consider it buyable for the sector for small cap investors. (5iResearch)