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Friday's Energy Stocks: Southwestern Energy leaps 20.5% on strong Q4'17

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Friday's Energy Stocks: Southwestern Energy leaps 20.5% on strong Q4'17

Broader markets and energy equities capped the Friday, March 2, trading session with mixed results. The Dow Jones Industrial Average concluded the trading day 0.29% lower at 24,538.06, while the S&P 500 rose 0.51% to end at 2,691.25.

Southwestern Energy Co. shares leaped 20.49% on brisk volume to finish at $4.47. The company's fourth-quarter 2017 adjusted profits of $63 million, or 12 cents per share, beat analysts estimates by 3 cents. Driven by higher dry gas production and a 47% year-over-year increase in NGL volumes, the results surpassed the $39 million, or 8 cents per share, adjusted profits in the same quarter in 2016.

Marathon Oil Corp. added 2.27% in light trading to settle at $14.86, after closing the $450 million sale of subsidiary Marathon Oil Libya Ltd. to Total SA subsidiary Elf Aquitaine SAS. Total acquired access to about 500 million barrels of oil equivalent along with about 50,000 boe/d of immediate production and exploration potential of about 53,000 square kilometers.

Public Service Enterprise Group Inc. retreated 1.22% on about average volume to $47.70, and Exelon Corp. dipped 0.05% in light trading to $36.92, after canceling the funding for future capital projects at the Salem nuclear plant. The companies' decision stands until New Jersey legislators act on proposals to provide financial aid to in-state nuclear resources.

Among Canadian power companies that reported their latest financial results today, Algonquin Power & Utilities Corp. rose 0.79% to close at C$12.77, and TransAlta Corp. spiked 4.05% to finish at C$7.45, while Boralex Inc. declined 0.61% to finish at C$22.65, all in brisk trading.

Algonquin Power reported fourth-quarter 2017 adjusted EBITDA of C$233.4 million, beating the S&P Capital IQ consensus estimate of C$207.8 million.

TransAlta booked C$275 million in fourth-quarter 2017 comparable EBITDA, surpassing the S&P Capital IQ consensus estimate of C$263.6 million. The company will prioritize coal-to-gas conversion work in 2018 as it pivots to lower-emitting energy sources.

Boralex posted fourth-quarter 2017 EBITDA under proportionate consolidation of C$104 million, up from C$57 million in the fourth quarter of 2016.

In the coal sector, Arch Coal Inc. climbed 2.69% on thin volume to $99.04, Foresight Energy LP shed 3.45% in below-average trading volume to $3.64, and Natural Resource Partners LP retreated 2.74% in weak trading to $30.20.

April natural gas futures seesawed through Friday trading and settled slightly lower with little to support sharp moves in either direction. The contract settled 0.3 cent lower at $2.695/MMBtu, while spanning $2.686/MMBtu to $2.728/MMBtu.

Market prices and index values are current as of the time of publication and are subject to change.