5 Best Coal Stocks To Buy Now

3. CONSOL Energy Inc. (NYSE:CEIX)

Price to Earnings Ratio (P/E) of November 17th, 2022: 5.46

CONSOL Energy Inc. (NYSE:CEIX) is an American company that is one of the oldest of its kind since it was set up in 1860 and is currently headquartered in Canonsburg, Pennsylvania. The firm primarily mines bituminous coal, and it sells it to power and metallurgical companies, among others.

CONSOL Energy Inc. (NYSE:CEIX)’s coal is primarily used by power generation companies, with figures for the calendar year 2021 showing that 63% of all of its coal is used for this purpose. This is crucial, since the demand for power generation coal is higher due to global energy shortages. Additionally, CONSOL Energy Inc. (NYSE:CEIX) has locked in 21.8 million tons of orders for 2023, and 8.8 million tons for 2024, providing the firm with stable demand even with a potential recession on the horizon.

CONSOL Energy Inc. (NYSE:CEIX) pays a $1.05 dividend for a 6.95% yield. Its P/E ratio is 5.46 and 31 out of the 920 hedge funds polled by Insider Monkey during this year’s September quarter had invested in the firm.

CONSOL Energy Inc. (NYSE:CEIX)’s largest investor is David Einhorn’s Greenlight Capital which owns 1.7 million shares that are worth $110 million.

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