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7 Natural Gas Stocks to Watch

Stocks in this article: MWE OGE WES CPNO ETP XTXI APL DPM

2. Crosstex Energy (XTXI), operating through its subsidiaries, engages in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs). Through its wholly owned subsidiaries, the company owns 25% interest in Crosstex Energy, L.P. (Partnership), an independent midstream energy company.

Of the four analysts covering the stock, 25% recommend buying and 50% rate a hold. The stock's average 12-month price target is $18.00, which is 29.8% higher than the current price, as per a Bloomberg consensus.

For the second quarter of 2011, Crosstex Energy reported midstream revenue of $496.1 million, up12.2% from the prior-year quarter. Net income attributable to the company stood at $1.7 million, vs. net loss of $2.5 million in the second quarter of 2010. Net loss per diluted share narrowed to 5 cents from 8 cents in the year-ago period. Distributable cash flow for the quarter increased to $32.9 million from $22.8 million in the second quarter of 2010.

Total gathering and transmission volumes for the second quarter 2011 in the pipeline throughput segment increased to 2.11 MMBtu/d from 1.96 MMBtu/d in the same quarter last year. Total natural gas volumes processed increased to 1.4 million MMBtu/d from 1.3 million MMBtu/d earlier. The commercial services volume expanded significantly to 165,000 MMBtu/d from 49,000 MMBtu/d in the year-earlier period.

The company recently announced the start of a binding open season for volume commitments for interstate common carrier transportation service on a new natural gas liquids pipeline system. This common carrier pipeline will start operating from the first quarter of 2013 with preliminary design capacity of at least 70,000 barrels per day to Eunice, and a smaller amount to Riverside.

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