-- 週二午盤交易中,美國天然氣期貨價格走低,疲軟的需求和依然充裕的供應推高了市場對庫存大幅增加的預期。 亨利樞紐天然氣近月合約及連續合約均下跌1.87%,至每百萬英熱單位2.58美元。 根據Liquidity Energy報道,美國能源資訊署(EIA)將於週四發布的本週庫存報告的初步預估顯示,庫存將增加500億立方英尺,達到620億立方英尺。相較之下,去年同期庫存增加220億立方英尺,而五年平均增幅為380億立方英尺。 Liquidity Energy指出,近幾週庫存大幅上升,導致庫存過剩量超過五年平均水準1,000億立方英尺。該公司引述一位市場觀察家的預測稱,到4月底,庫存過剩量將超過1500億立方英尺。截至4月3日,庫存過剩量為870億立方英尺。 溫和的天氣抑制了天然氣消費,取暖需求比正常低約15%。根據Liquidity Energy引用Natural Gas Intelligence的數據,上周美國本土48州用於發電的天然氣需求下降了4%。 NRG表示,其數據顯示,美國天然氣總消費量從上週二的約1150億立方英尺/日降至約950億立方英尺/日,年減31億立方英尺/日。 Aegis指出,居民和商業需求下降了7億立方英尺/日,但電力消耗量增加14億立方英尺/日,達到348億立方英尺/日,抵銷了這一降幅。 供應方面,產量放緩,但仍處於高位。 Aegis Hedging表示,截至週二上午,美國天然氣產量下降了約20億立方英尺/日,其中德州的產量下降了約10億立方英尺/日,扭轉了上週晚些時候的增幅,降至兩週以來的最低水平。 NRG能源公司表示,近幾日美國天然氣總產量平均為1,072億立方英尺/日,低於先前高點,但仍比去年同期水準高出17億立方英尺/日。 液化天然氣出口終端的天然氣流量保持穩定。 Liquidity Energy公司表示,4月美國九大液化天然氣設施的原料氣輸送量平均為189億立方英尺/日,接近產能,略高於3月的水準。
Related Articles
Research Alert: CFRA Keeps Buy Opinion On Shares Of The Hartford Insurance Group, Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target price by $8 to $155, valuing HIG shares at 11.3x our 2026 operating EPS estimate of $13.75 (cut by $0.45) and at 10.6x our 2027 EPS estimate of $14.65 (cut by $0.30), vs. the shares' one-year average forward multiple of 10.3x and peer average of 13x. Q1 EPS of $3.09 vs. $2.20 a year ago missed our $3.60 estimate and $3.39 consensus view. Operating revenue growth of 6.2% was in line with our 6%-10% forecast, amid 5.3% earned premium growth, 13% higher net investment income, and 7.9% fee revenue growth. Q1 written premium growth of 4% and full-year 2025 growth of 7% bode well for 2026 revenue trends as premiums are earned. Underwriting results improved significantly, with Personal Lines combined ratio improving to 87.7% from 106.1% and underlying combined ratio to 85.0% from 89.7%. Business Insurance combined ratio was stable at 94.8%. Weighing the Q1 EPS miss with HIG's decent top-line growth and discounted valuation to peers, we view the shares as undervalued.
Research Alert: CFRA Keeps Strong Buy Opinion On Shares Of Baker Hughes
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by $14 to $82, reflecting a combination of our sum-of-the-parts (SOTP) and DCF models. For our SOTP model, we presume the oilfield services business (about 50% of BKR's franchise) to be valued at about 10x projected 2027 EBITDA (in line with major peers) and its industrial energy technology business (the other 50%) valued at 14x projected 2027 EBITDA (in line with the peer median). This blended approach, yielding a 12x multiple, implies a value of $73 per share. Meanwhile, our DCF model, using medium-term free cash flow growth of 5% per year, terminal growth of 2.5%, discounted at a WACC of 6.3%, yields intrinsic value of $91 per share. We cut our 2026 EPS estimate by $0.47 to $2.48, but we raise 2027's by $0.07 to $3.24. We acknowledge that the oilfield services business is likely to struggle in 2026 owing to the U.S.-Iran conflict, but the IET business appears quite robust and likely to be a source of both accelerating revenue growth and margins.
Research Alert: CFRA Maintains Hold Opinion In Shares Of Wab
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target to $285 from $275 following WAB's Q1 earnings print, valuing shares at 24.2x our 2027 EPS outlook of $11.76 (revised from $11.46; 2026 EPS estimate up to $10.57 from $10.50), a slight premium to WAB's long-term historical multiple average given structural improvements in earnings quality. While we are cautious on signs of overcapacity in the freight market, an elevated order backlog (12-month sits at over $9 billion), internal initiatives to shore up margins, and potential synergies from M&A activity positions WAB to continue growing earnings at double-digit rates in 2026-2027, in our view. Despite tariff-related cost pressures, WAB has done a commendable job of defending margins via a mix of pricing, lean manufacturing, and pruning of lower-profit operations. Q1 results were mixed but overall positive, in our view. We maintain our Hold recommendation on shares.