This Day On The Street
Continue to site
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

Consol Energy To Invest More In Gas Than Coal

PITTSBURGH (AP) â¿¿ Consol Energy plans to concentrate more on its gas operations in the future and not invest as much in coal beyond maintaining existing projects. The company also anticipates selling off more assets this year.

Demand for coal has dropped partly because of low natural gas prices. In addition mild weather so far this winter has reduced U.S. demand for heating in homes and businesses.

Consol Energy said Monday that it expects annual coal investments to be around $5 to $6 per ton in 2014 and beyond. It considers those levels appropriate for maintaining existing projects.

The Pittsburgh company does not anticipate investing in any new coal growth projects once it completes its BMX mine, which is targeted for 2014's first quarter.

For 2013 Consol Energy expects to invest $410 million to $520 million in coal operations, with $318 million for maintenance of existing projects. It foresees investing about $835 million to $935 million in gas operations during the year.

Consol Energy Inc. anticipates asset sales between $127 million and $312 million this year. Last year the company sold $350 million in assets.

Credit Suisse analyst Richard Garchitorena lowered his fourth-quarter earnings estimate for Consol to 24 cents per share from 27 cents per share. The analysts' consensus view is 22 cents per share, according to FactSet.

Consol Energy will report fourth-quarter financial results on Jan. 31.

Consol shares fell 26 cents to $29.93 in afternoon trading.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs