Broader U.S. benchmarks posted gains on Friday, June 8. The energy sector slid into negative territory.
The Dow Jones Industrial Average rose 0.30% to close the day at 25,316.53, and the S&P 500 advanced 0.31% to finish at 2,779.03. The S&P 500 Energy Index lost 0.22% to close at 565.02 and the Alerian MLP Index lost 0.97% to finish at 269.41.
Among top performers in the midstream sector were NGL Energy Partners LP with shares climbing 2.12% to close a strong session at $12.05, and Apache Corp., shares of which grew 1.17% to finish an average day at $42.24.
Devon Energy Corp. announced June 6 plans to sell its ownership stakes in EnLink Midstream Partners LP, EnLink Midstream LLC and Enlink Midstream Manager LLC for about $3.13 billion to Global Infrastructure Partners. Devon Energy shares inched up 0.50% to $42.16 on light volume, while EnLink Midstream Partners shares were down 2.16% to close a brisk session at $16.77, and EnLink Midstream units retreated 1.18% in robust trading to close at $16.80.
Suncor Energy Inc. stock was up 0.77% to close a slow day at $40.77. The Canadian oil and gas producer posted average production of about 636,000 barrels per day for the second quarter to date, reflecting the completion of major turnaround work and "strong production" from growth projects.
Shareholders of Calif.-based Clean Energy Fuels Corp. overwhelmingly approved Total SA's purchase of a 25% stake in the natural gas and alternative fuels transportation company, valued at $83.4 million. Clean Energy Fuels share slid 3.56% on light volume to finish at $2.98. Total's shares trading on the New York Stock Exchange were down 0.11% at the end of a below-average session to end the week at $61.74.
In power, NextEra Energy Partners shares added 1.50% on below-average volume to close the day at $44.03. Atlantic Power Corp. stock lost 2.27% to wrap the day at $2.15 on thin volume and NRG Energy Inc. shares slipped 1.04% to $33.15 on slightly above-average volume.
In the renewable sector, SunPower Corp. shares lost 3.16%, settling at $7.05 on above-average volume, and First Solar Inc. shares fell 1.14% to finish at $52.67 on high volume. Sunrun Inc. shares spiked 3.34% to $12.69 on light volume.
The S&P 500 Utilities Index decreased 0.01% to close at 244.98.
In coal, Warrior Met Coal Inc. stock lost 2.45% on above-average volume to end the week at $29.08, and Arch Coal Inc. shares declined 1.72% on light volume to end the week at $85.17.
Market prices and index values are current as of the time of publication and are subject to change.
