U.S. benchmarks continued to make gains on Tuesday, Dec. 12, while most major energy benchmarks closed in the red.
The Dow Jones Industrial Average closed the day 0.49% higher at 24,504.80, and the S&P 500 climbed 0.15% to finish at 2,664.11. The SNL Energy Index retreated 0.95% to close at 289.86.
The midstream sector managed to buck the trend in energy, with the SNL Midstream Energy Index up 0.36% to 107.00 at market close.
SemGroup Corp. shares rose 2.84% to finish at $27.15, Tallgrass Energy Partners LP shares finished the day up 2.47% to $46.02 and NGL Energy Partners LP shares added 2.46% to wrap up the session at $14.60, all on high volumes.
Southwestern Energy Co. stock retreated 4.65% to close at $5.54 on heavy volume, QEP Resources Inc. lost 4.02% to close at $9.08 on active volume, Dominion Energy Midstream Partners LP stock shrunk 2.37% to close at $30.95 on slow volume.
Whiting Petroleum Corp. launched a private unregistered offering of $750 million of senior notes due 2026. Whiting's shares lost 7.55% to close at $23.64 on high volume.
Among gas utilities, Corning Natural Gas Holding's share price increased 2.45% to reach $20.49 on heavy trading. Southwest Gas Holdings Inc. shares lost 2.98% to close a slow day at $80.48.
The SNL Gas Utility Index declined 2.19% to finish the day at 601.99.
In the power sector, Pattern Energy Group Inc. shares fell 1.63% to close at $21.06 on high volume, and NRG Energy Inc. shares decreased 1.48% to $28.70 on below-average volume.
SunPower Corp. shares decreased 5.96% to $8.68, following a 10.67% surge during the Monday, Dec. 11 session. First Solar Inc. units shed 1.63% to close at $68.91 on below-average volume. TerraForm Power Inc added 2.68% to close at $11.51 on slim volume.
The SNL Merchant Generator Index shed 0.60% to close at 103.93.
Eversource Energy is fighting back against claims by the Environmental Defense Fund that Eversource and Avangrid Inc. deliberately blocked other companies from using gas transportation capacity that resulted in gas and electricity price hikes during peak periods in New England. Eversource, in a Dec. 11 cease and desist letter to Environmental Defense Fund leadership, attacked the group's claims, saying it would take legal action. Eversource shares slipped 2.27% to $64.21 on slightly above-average volume, and Avangrid stock dropped 2.53% to $51.19 on below average volume.
Sempra Energy lost 2.83% to end the day at $114.69 on active volume. The Federal Energy Regulatory Commission approved Sempra's October application, authorizing the acquisition of Energy Future Holdings Corp., and its 80.03% share of Oncor Electric Delivery Co. LLC.
Unitil Corp. declined 2.85% to $48.36 on more than 10 times normal volume. The company priced 600,000 shares of its common stock for gross proceeds of nearly $29.0 million.
Among utilities, Edison International stock trimmed 6.03% off its share price to close at $68.58 on high volume, PNM Resources Inc. fell 2.99% to finish the day at $43.85 on slow volume and Great Plains Energy Inc. stock lost 2.74%, settling at $33.75 on below-average volume.
The SNL Electric Company Index decreased 2.33% to close at 494.77.
The SNL Coal Index clocked a 0.20% increase to end the session at 66.10. Alliance Resource Partners LP shares appreciated 1.67% to $18.25 at session close on nearly average volume. Arch Coal Inc.'s shares lost 1.27% to close at $85.76 on light volume.
After rising 5.6 cents in the Dec. 11 session, NYMEX January 2018 natural gas futures sank to a near 10-month low on Tuesday, as the market sold off on mixed weather expectations and bearish storage prospects.
Market prices and index values are current as of the time of publication and are subject to change.
