trending Market Intelligence /marketintelligence/en/news-insights/trending/7PvAFOJL2kbwhjqe6DFtIA2 content esgSubNav
In This List

Utilities 2nd-best among S&P 500 sectors in September

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Utilities 2nd-best among S&P 500 sectors in September

The S&P 500 Utilities index saw a total return of 4.3% in September, making it the second best-performing index, compared to the broad S&P 500 index, which posted a gain of 1.9%. The utility sector also maintained a lead against the S&P 500 Energy index, which recorded a total return of 3.8% during the month, according to S&P Global Market Intelligence data.

Marathon Petroleum Corp. posted the strongest performance in the U.S. energy group, with a total return of 23.5%. On Sept. 25, activist investor Elliott Management Corp. called for a three-way split of the oil refiner, outlining $39 billion in value such a move would unlock. On Sept. 27, two former Andeavor board members called for the removal of Marathon Petroleum CEO Gary Heminger to help resolve a perceived "stagnation and destruction of value" at the integrated refiner.

HollyFrontier Corp. and Apache Corp. had the second- and third-best returns of the month at 20.9% and 18.7%, respectively, followed by Valero Energy Corp. with a gain of 13.2% and Cimarex Energy Co. with a return of 12.1%.

Diamondback Energy Inc. and Concho Resources Inc. were among the bottom-performing S&P 500 Energy companies in September. Diamondback recorded a total negative return of 8.3% and Concho saw a negative return of 7.2%.

SNL Image

In the electric and diversified utilities sector, CenterPoint Energy Inc. saw a total return of a 9% during the month. In September, the Public Utilities Commission of Ohio adopted a rate case settlement, allowing CenterPoint subsidiary Vectren Energy Delivery of Ohio Inc. to increase its gas distribution base rates by $22.7 million, effective Sept. 1.

CenterPoint was followed by NRG Energy Inc. with a total return of 8.8% and PPL Corp. with a total return of 8.1%.

American Water Works Co. Inc., on the other hand, posted a negative return of 2.4% during the month, followed by WEC Energy Group Inc. with a negative return of 0.7%. In August, WEC Energy topped the S&P 500 Utilities index, with a total return of 12.8%.