Nat gas plunge makes 'great opportunity': Analyst

Natural gas plunged Monday to its lowest level since 2012, but the weakness may lead to more of a buying opportunity than a panic moment, one analyst contended Monday.

Natural gas futures ended the session nearly 10 percent lower as supplies continue to rise. The commodity should take "another leg down" in the short term before eventually rising, said Brian Youngberg, an energy and utilities analyst at Edward Jones.

A network of insulated pipes carry liquefied natural gas from ships to giant storage tanks at Sempra Energy's Costa Azul terminal north of Ensenada, Mexico.

Don Bartletti | Los Angeles Times | Getty Images

Youngberg believes long-term investors can find bargains at current prices.

"We think they'll look at today and this environment as a great opportunity," he told CNBC's "Closing Bell." "Think five, 10 years out and we think there's a lot of value there."

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Natural gas prices have dropped about 35 percent this year. The dip, combined with plunging crude oil prices, has hit the share prices of large producers like Exxon Mobil, Chesapeake Energy and Anadarko, among others.

The struggles have led to some bankruptcies and merger activity in the oil and gas sector. Youngberg added, "We're really not thinking that much about M&A activity in the near term. More pain would have to come."