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The United States Energy Information Administration (EIA) predicts that households would spend more on energy this winter than last year, which should drive prices further. The industry’s uptrend is evident in the Energy Select Sector SPDR Fund’s (XLE (NYSE:XLE)) 17.6% gains over the past month versus the broader SPDR S&P 500 ETF Trust’s (SPY) 2.1% returns.
Given this backdrop, we think energy stocks MOL Hungarian Oil and Gas PLC (MGYOY), TransGlobe Energy Corporation (TGA), and Blueknight Energy Partners, L.P. (BKEP), which are currently trading below $5, could be solid bets now. Our POWR Ratings system has rated these stocks ‘Strong Buy.’
