These were the top 3 ASX energy shares of the March quarter

Coal, oil and gas all traded at multi-year or all-time highs during the quarter.

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Key points

  • ASX energy shares trounced the benchmark in Q1 
  • Supply disruptions and increased demand saw energy prices rocket 
  • Coal hit record prices during the quarter 

ASX energy shares received plenty of attention over the quarter just past.

And for good reason.

Energy prices, as we’re sure you’re aware, have gone through the roof.

The trend commenced last year, with energy demand ramping up as the world reopened from COVID closures.

Then, with new energy supplies already struggling to keep up with increasing demand, Russia’s invasion of Ukraine put a rocket under the likes of coal, oil and gas.

Crude oil hit 13-year highs over the quarter and coal traded at all-time highs.

Those soaring prices weren’t lost on investors running their slide rules over ASX energy shares. This saw the S&P/ASX 200 Energy Index (ASX: XEJ) gain a whopping 25.1% in Q1, trouncing the 0.7% gains posted by the S&P/ASX 200 Index (ASX: XJO) over that same period.

Of course, some ASX energy shares did better than others.

Below we look at the top three performers, who also topped the Q1 leader’s board on the All Ordinaries Index (ASX: XAO).

We’ll let you pick out what they all have in common.

The second and third best ASX energy shares in Q1

Coming in at number three, Coronado Global Resources Inc (ASX: CRN) produces metallurgical coal, which is used to produce steel rather than fuel power plants. The company has a market cap of $3.8 billion and doesn’t pay a dividend.

With coal prices hitting all-time highs, the ASX energy share leapt 61% in Q1, closing on 31 March at $2 per share. Coronado is currently trading at $2.25 per share.

Moving on to the second best ASX energy share to have held throughout the March quarter we have Yancoal Australia Ltd (ASX: YAL).

Yancoal is Australia’s largest pure-play coal producer, operating and managing coal mines across the country. The company has a market cap of $6.7 billion and pays a 10.4% trailing dividend yield, unfranked.

Also benefitting from rocketing coal prices, Yancoal shares surged 71% in Q1, closing on 31 March at $4.44 per share. Today the Yancoal share price stands at $5.34.

Topping the list

The best performing ASX energy share, and also topping the list of All Ords performers for Q1, was Stanmore Resources Ltd (ASX: SMR), formerly Stanmore Coal. (See the common thread?)

Stanmore has a market cap of $1.6 billion and pays a fully franked 4.3% dividend yield.

Riding the wave of soaring coal prices, the ASX energy share closed the March quarter up 83%, at $1.74. At time of writing, the Stanmore share price stands at $1.86.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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