Questar Fueling Company, an affiliate of the natural gas-focused energy firm Questar Corporation (STR), has announced the opening of a compressed natural gas (CNG) fueling station in Dallas, TX. This marks the company’s third fueling station in the state.
In addition to Frito-Lay’s fleet, the new fueling station will serve other medium and heavy-duty trucks. The company added that the station has six high-speed fueling lanes for serving large trucks.
Questar Fueling has two other CNG fueling stations in Texas, namely in Houston and DeSoto. Last month, the company had opened a CNG fueling station in Kansas as well, the second in the state this year. The company intends to expand its presence further by opening CNG stations in California, Connecticut, Nevada, Missouri, Ohio, Illinois and Georgia in the coming 12 months.
In a market of falling stock prices, Questar Corporation stock gained 2.4% yesterday in the NYSE to close at $22.60.
CNG is reasonably priced when compared to its oil-fuel counterpart. Usage of CNG not only reduces the nation’s dependency on imported oil but also results in cleaner fuel for vehicles, which is economic and eco-friendly as well.
As the U.S. has attained the position of the largest natural gas producer in the world, more natural-gas powered trucking fleet can be expected going forward, leading to a greater need for such CNG fueling stations.
Salt Lake City, UT-based Questar Corporation is a natural gas-focused energy company with three principal subsidiaries, Wexpro Company, Questar Pipeline and Questar Gas Company.
Currently, Questar carries a Zacks Rank #3 (Hold). Meanwhile, one could consider better-ranked players from same industry like AGL Resources Inc. (GAS), WGL Holdings Inc. (WGL) and Atmos Energy Corporation (ATO). While AGL Resources and WGL Holdings sport a Zacks Rank #1 (Strong Buy), Atmos Energy holds a Zacks Rank #2 (Buy).
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