Discover Eric Nuttall’s Top Investment Picks for November 17 2025

Eric Nuttall, a partner and senior portfolio manager at Ninepoint Partners, provides a comprehensive analysis of the energy market, focusing on top investment choices for November 17, 2025. Nuttall emphasizes the bullish trends in natural gas and offers valuable insights into his leading stock picks.

Market Outlook for Natural Gas

Nuttall asserts that natural gas is in a structural bull market. The surge in demand from liquefied natural gas (LNG) is significant. Current demand is around 18 billion cubic feet per day, which is expected to grow to over 30 billion cubic feet daily by 2030. The demand for electricity from hyperscalers is predicted to add an additional 10 billion cubic feet per day by the same year.

The projected average for natural gas prices from 2026 to 2029 is approximately $4 per million cubic feet. This price aligns closely with the marginal cost of supply. Major natural gas producers in the U.S. are expected to maintain free cash flow yields of over 10% while holding substantial inventory.

Short-term Oil Market Challenges

The immediate outlook for oil remains uncertain. Factors such as Russian sanctions and increased physical supply from OPEC nations have influenced the market. Nuttall believes that unless a significant geopolitical event occurs, oil inventories may rise, preventing substantial price increases.

Looking ahead, 2026 may shift market focus to U.S. shale’s decline as OPEC’s spare capacity normalizes. Nuttall expresses confidence that oil prices can surpass $70 per barrel once OPEC’s output is fully integrated into the market, with the potential for record highs.

Eric Nuttall’s Top Investment Picks for November 2025

• Whitecap Resources (WCP TSX)

  With over 25 years of steady inventory, Whitecap boasts a market capitalization of $13.5 billion and a sustainable dividend yield of 6.6%. The stock trades at a notable discount compared to peers, positioning it for significant upside potential, possibly ranging from 43% to 75% based on differing price scenarios.

• Expand Energy (EXE NASD)

  Expand Energy is North America’s largest natural gas producer, capturing an impressive 6.3% of U.S. production. Benefiting from current market dynamics, the firm maintains over 20 years of stable inventory. Nuttall forecasts its stock could achieve a target price reflecting a potential upside of 40%.

• Antero Resources (AR NYSE)

  Operating within the Appalachia Basin, Antero holds more than 20 years of consistent inventory. The company’s strong balance sheet allows it to return a significant portion of free cash flow to shareholders. Antero is well-positioned to leverage the anticipated rise in gas prices.

Nuttall asserts a bullish view on these energy stocks, offering promising investment opportunities against the backdrop of evolving market conditions.