This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Coal Companies Can Save Themselves: Poll

Stocks in this article: FSLR BTU CNX D MEE ANR

(Coal story updated with pre-market stock price movements for First Solar, Peabody Energy, CONSOL Energy, Dominion Resources, Massey Energy and Alpha Natural Resources, and additional analysts of TheStreet poll.)

NEW YORK ( TheStreet) -- Despite proposed clean-air legislation; burgeoning clean-energy alternatives like solar and wind power; and speculation as to the demise of coal as an electric-power source; coal companies and coal stocks will likely save themselves, according to a recent poll by TheStreet.

No fewer than 79.9% of voters in our weeklong poll, conducted during the week of March 15, say that coal stocks will embrace clean-coal technology to a degree sufficient to keep them viable for decades. The remaining 20.1% of respondents disagree, saying they still consider coal stocks to be a risky investment, given the prohibitively expensive cost of clean coal technology.

Or, then again, much of the recent investor interest in coal stocks might actually have less to do with optimism about clean-coal technology and more to do with pessimism about the pace of renewable energy sources.

Indeed, Bloomberg reports that the shift away from First Solar (FSLR) towards Peabody Energy (BTU) is taking place at its fastest pace in two years, even as veteran financiers like T. Boone Pickens and Warren Buffett pour cash into environmentally friendly technologies.

Firsthand Alternative Energy Fund's Kevin Landis tells Bloomberg that the trend reflects the conventional wisdom that government support for reducing greenhouse gases has been waning; the Stowe Global Coal index of 38 coal producers has increased 6.5% in 2010, while the Bloomberg Global Leaders Solar index of 38 solar module and component makers has plunged 17%, according to Bloomberg.

Meanwhile, companies like Consol Energy (CNX), which on Mar. 15 announced its agreement to buy Dominion Resources' (D) natural gas properties for $3.5 billion in cash, have proven that coal and natural gas businesses are note mutually exclusive. Another coal producer, Massey Energy (MEE) continues to seek potential natural gas deals, even as it carries on with expanding it coal reserves.

Also, in February, coal company Alpha Natural Resources (ANR) announced a joint venture with Rice Energy to begin developing that company's Marcellus shale gas resource in southwestern Pennsylvania.

First Solar has fallen 2.6% to $110.30 a share in pre-market trading, while Peabody Energy is down 2.1% at $46 a share. CONSOL Energy has fallen 1.5% to $44.90 and Dominion Resources is flat at $40.70.

Meanwhile, Massey Energy has fallen 2% to $48.90 and Alpha Natural Resources is down 1.2% at $46.90.

-- Reported by Andrea Tse in New York


Follow on Twitter and become a fan on Facebook.

Copyright 2009 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs