22.66 +0.04 (0.18%)
After hours: 4:45PM EDT
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||22.47 - 22.69|
|52 Week Range||20.40 - 31.72|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.70%|
The S&P 500 fell ~0.8% to 2,670.14 on April 20 due to the expectation of a rise in US interest rates. The ten-year Treasury yield is at the January 2014 high, which also pressured the S&P 500. Nine out of the ten major sectors in the S&P 500 fell on April 20.
On April 13–20, 2018, the United States Natural Gas ETF (UNG) and the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) were almost unchanged. During this period, natural gas May futures rose 0.1%.
On April 13–20, 2018, US crude oil June futures rose 1.6% and settled at $68.4 per barrel on April 20, 2018. During this period, US crude oil tracking ETFs and ETNs had the following returns: The United States 12 Month Oil ETF (USL) rose 1.9%. The PowerShares DB Oil ETF (DBO) rose 1.9%. The Credit Suisse X-Links WTI Crude Oil Index ETN (OIIL) rose 1.7%.
US natural gas futures decreased 1% on April 12–19, 2018. Prices decreased due to mild weather forecasts. The United States Natural Gas ETF (UNG) decreased ~0.5% on April 12–19, 2018, while the First Trust Natural Gas ETF (FCG) increased 4.5% during the same period. UNG seeks to track active natural gas futures. FCG seeks to track the performance of the ISE-Revere Natural GasTM Index.
Cabot Oil & Gas (COG) stock started weak this year and mirrored natural gas prices (UNG). Cabot Oil & Gas stock has fallen ~1.5% YoY (year-over-year). The stock has underperformed the Energy Select Sector SPDR ETF (XLE), which has increased ~4.3% during the same period.
PointLogic estimates that US natural gas consumption fell ~9% to 67.7 Bcf per day on April 12–18, 2018. However, consumption increased ~23.3% or by 12.8 Bcf (billion cubic feet) per day from a year ago.
The EIA released its natural gas storage report on April 19, 2018. The EIA reported that US natural gas inventories declined by 36 Bcf (billion cubic feet) to 1,299 Bcf on April 6–13, 2018. The inventories also declined by 808 Bcf or 38.3% year-over-year.
To help investors keep up with the markets, we present our ETF Scorecard. The Scorecard takes a step back and looks at how various asset classes across the globe are performing. The weekly performance is from last Friday’s open to this week’s Thursday close.
The S&P 500 rose ~0.1% to 2,708.64 on April 18, 2018. The index rose slightly due to bullish momentum in the energy and industrial sectors. Five out of ten major sectors in the S&P 500 rose on April 18, 2018.
Between April 10 and April 17, 2018, the correlation between natural gas and US crude oil May futures was just 4.2%. In the seven calendar days to April 17, US crude oil and natural gas prices moved in the same direction in three instances out of the last five trading sessions based on the closing prices.
The S&P 500 rose ~1.1% to 2,706.39 on April 17, 2018, due to optimism about strong 1Q18 earnings results. Analysts estimate that S&P 500 companies’ earnings could rise 18.6% in 1Q18, which would be the highest increase in seven years, according to Reuters. Nine out of the ten major sectors in the S&P 500 rose on April 17, 2018.
Natural gas inventories declined by 19 Bcf (billion cubic feet) to 1,335 Bcf in the week ending April 6, 2018, according to the EIA’s (U.S. Energy Information Administration) report announced on April 12, 2018. The fall in the EIA’s data was eight Bcf more than the market’s expected fall. On April 12, 2018, natural gas May futures rose 0.4%.
The consensus 12-month target price for Golar LNG (GLNG) is $36.14, which implies a potential return of 26.3% compared to its price of $28.6 on April 17, 2018.
On April 17, 2018, natural gas May 2018 futures closed at a premium of ~$0.1 to May 2019 futures. The difference is called the “futures spread.” On April 10, 2018, the futures spread was at a premium of ~$0.03. Between April 10 and April 17, 2018, natural gas May futures rose 3.1%.
On April 17, 2018, natural gas May 2018 futures fell 0.5% and settled at $2.738 per MMBtu (million British thermal units). However, between April 10 and April 17, 2018, natural gas May futures rose 3.1%. Unseasonal cold weather could be behind natural gas’s rise over this time period.
According to Reuters, the consensus rating for Höegh LNG Partners (HMLP) is 1.38, which means a “strong buy” on a scale of one (strong buy) to five (strong sell). Eight analysts have given recommendations on Höegh LNG Partners. Five have given it “strong buy” recommendations, and three have given it “buy” recommendations.
Last week, Southwestern Energy (SWN) stock rose more than 5% from $4.26 to $4.49. SWN rose on the first four days of last week, followed by a minor decline on Friday. Despite rising prices last week, SWN’s stock price was confined within a horizontal consolidation pattern around its 50-day moving average. Volume remained lower throughout the week, which is a typical characteristic of price consolidation.
A spate of financial surprises by General Electric (GE) has taken the investor community by surprise. Due to the implementation of new revenue recognition rules, the value of GE’s contract assets has been written off. Analysts polled by Thomson Reuters expect General Electric to report revenue of $27.4 billion in 1Q18.
The S&P 500 rose ~0.8% to 2,677.84 on April 16, 2018, due to easing geopolitical tensions in the Middle East and optimism about strong 1Q18 earnings results. All of the 11 major sectors in the S&P 500 rose on April 16, 2018. The subsector classification is based on the S&P 500 GICS (Global Industry Classification Standard) indices.
On April 6–13, 2018, US crude oil May futures rose 8.6%—the largest weekly gain since July 28, 2017. On April 13, 2018, US crude oil May futures settled at $67.39 per barrel—the highest closing level for US crude oil active futures in more than three years.
US natural gas futures increased 0.4% on April 5–12, 2018. Prices increased due to cold weather forecasts and a larger-than-expected decline in natural gas inventories.
PointLogic estimates that US natural gas consumption rose ~6.8% to 74.4 Bcf per day on April 5–11, 2018. Natural gas consumption also increased ~24.8% or by 14.8 Bcf per day year-over-year.