It’s getting colder by the day up here in Montreal and sub-zero temperatures are slowly emerging (at night for now). If we get a repeat of last year’s winter the share price of a lot of NG weighted companies will be recovering on the back of rising natural gas consumption. Natural gas prices won’t be going through the roof but they will rise enough to impact the stock prices of companies that have been trashed due to their gassy production weighting; companies like Vero Energy VRO.TO 2.14 [-0.03] which is trading at a significant discount to NAV.
The EIA recently released this household heating chart where natural gas shows up as the dominating household heating fuel across the US. This is exactly why a cold winter in North America would push NG prices higher. The question is: are you willing to bet on the weather for a repeat of last year’s cold?
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Have a great Weekend!