| CONSOL Energy Realizes $101M from Sale of Coal Assets | |
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CONSOL Energy is in the process of shifting the focus of its business to natural gas and has been divesting its coal assets for this purpose. CONSOL Energy recently separated its coal business to form a thermal Master Limited Partnership – CNX Coal Resources LP CNXC. This is a strategic move intended to benefit the company in the long term. U.S. coal producers have been under tremendous stress over recent times. They’ve cut down on costs through mine closure, slower production rates and layoffs. Domestic demand for coal is unlikely to improve in the near term, thanks to the Clean Power Plan, under which the U.S. Environmental Protection Agency calls for CO2 reduction of 28% by 2025 and 32% by 2030, from 2005 levels. Coal based power plants are the primary source of CO2 emission. An increasing shift from coal based electricity production to natural gas based production is evident. Natural gas, a cleaner source of energy, has been witnessing high demand. We note that this transformation has put pressure on pure-play coal companies like Arch Coal ACI and Peabody Energy BTU, who have been incurring losses over the last few quarters. Currently, CONSOL Energy carries a Zacks Rank #3 (Hold). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CONSOL ENERGY (CNX): Free Stock Analysis Report ARCH COAL INC (ACI): Free Stock Analysis Report PEABODY ENERGY (BTU): Free Stock Analysis Report CNX COAL RESRCS (CNXC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Consol Energy Inc.
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PRODUCER |
CODE : CNX |
ISIN : US20854P1093 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Consol Energy is a producing company based in United states of america. Consol Energy produces coal in USA, and holds various exploration projects in USA. Its main asset in production is BUCHANAN in USA. Consol Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 5.4 billions as of today (€ 5.0 billions). Its stock quote reached its highest recent level on June 06, 2008 at US$ 99.79, and its lowest recent point on April 26, 2019 at US$ 10.00. Consol Energy has 223 758 284 shares outstanding. |