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Tuesday's Energy Stocks: AES up 7.37% on Q4'17 results, bucks trend on down day

Stocks fell sharply Tuesday, Feb. 27, and the energy sector joined the slide.

The Dow Jones Industrial Average shed 1.16% to close the day at 25,410.03, and the S&P 500 retreated 1.27% to post the worst close in about three weeks at 2,744.28. The SNL Energy Index decreased 1.41% to finish at 269.22.

Bucking the trend, AES Corp. stock climbed 7.37% in robust trading to wind up at $11.22. The company reported a year-over-year increase in fourth-quarter 2017 free cash flow to $668 million, compared to $535 million for the comparable quarter of 2016.

In renewables, SunPower Corp. declined 4.34% in slow trading to close at $7.27, and First Solar Inc. lost 2.49% on slim volume to end at $63.48.

Pattern Energy Group Inc.'s shares added 1.17% on above-average volume to close at $19.06. The company is acquiring a 206-MW portfolio of renewable energy assets in Japan that includes solar and wind facilities.

The SNL Merchant Generator Index slid 1.30% to close at 95.58.

In midstream, Tallgrass Energy Partners LP stock slipped 3.40% to finish at $38.06 on below-average volume, and QEP Resources Inc. declined 4.66% to close a strong session at $8.60.

Shell Midstream Partners LP shares gained 0.82% in light trading to close the day at $24.65 after posting fourth-quarter 2017 adjusted EBITDA of $118.7 million, an increase from $84.3 million a year earlier.

ONEOK Inc. reported fourth-quarter 2017 adjusted EBITDA of $547.7 million, an increase from $474.1 million in the year-ago period. ONEOK shares slipped 0.82% lower after an active session to close at $57.00.

The SNL Midstream Energy Index slipped 1.05% to finish the day at 104.35.

Among utilities, Pinnacle West Capital Corp. dropped 2.91% to close a heavy session at $77.94, and Westar Energy Inc. lost 2.66% to finish the day at $49.12 on above-average volume.

El Paso Electric Co.'s share price decreased 2.87% to finish at $49.05 on low volume after announcing net income of $6.5 million, or 16 cents per share, in the fourth quarter, up from $5.7 million, or 14 cents per share, in the same period in 2016.

PNM Resources Inc. shares fell 2.20% to wrap a slow session at $35.50, after reporting fourth-quarter ongoing earnings of $19.4 million, or 24 cents per share, compared to ongoing earnings of $27.4 million, or 34 cents per share, in the corresponding quarter of 2016.

Sempra Energy stock grew 0.48% on strong volume to close at $110.04. Sempra recorded fourth-quarter revenues of $2.96 billion, up from $2.87 billion in 2016. The company ended the quarter with a net loss of $451.0 million, compared to net income of $409.0 million in the comparable 2016 period.

The SNL Electric Company Index declined 1.49% to close at 459.89.

In a seesaw session that saw the contract caught between changing weather, April natural gas futures succumbed to fundamental weakness on its first day as the lead contract, finishing the session with a 0.3-cent loss at $2.683/MMBtu.

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