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Friday's Energy Stocks: Wall Street snaps winning streak

Broader markets snapped their three-day winning streak on Friday, May 17, closing with losses over continued concerns about an ongoing trade war between the U.S. and China. The Dow Jones Industrial Average slid 0.38% to 25,764.00, and the S&P 500 lost 0.58% to close the day at 2,859.53.

PG&E Corp.'s stock price continued to decline days after California investigators concluded that PG&E Corp. subsidiary Pacific Gas and Electric Co.'s equipment caused the Camp Fire. PG&E closed Friday's trading 6.33% down in on brisk volume to $17.02.

California regulators approved a three-step rate adjustment for Southern California Edison Co. that is much lower than the utility sought. The stock prices of parent company Edison International settled up 0.02% in below-average trading to close at $59.96.

Sempra Energy declined 0.21% on average volume to finish at $130.45.

Sempra subsidiary Oncor Electric Delivery Co. LLC completed the acquisition of InfraREIT Inc. and its subsidiary InfraREIT Partners LP for about $1.33 billion. As part of the deal, Sempra also acquired a 50% limited-partnership interest in Sharyland Utilities LLC for approximately $98 million, subject to certain post-closing adjustments.

Among other electric and diversified utility companies, OGE Energy Corp. advanced 1.34% to $42.26 in below-average trading, and Duke Energy Corp. picked up 1.11% in active trading to settle at $87.20. PNM Resources Inc. dipped 1.38% to $47.14 on about double average volume.

The S&P 500 Utilities Sector was up 0.48% to close the day at 296.96.

Oil and gas companies recorded the biggest losses in the energy sector, as oil prices declined ahead of the OPEC meeting on May 19.

Brent crude closed down 0.78% to $72.05 per barrel, and Light Sweet crude decreased 0.25% to $62.71 per barrel.

American Resources Corp.Exxon Mobil Corp. retreated 0.59% in below-average trading to settle at $75.91. The company plans to spend about $55 billion in New Mexico's Eddy and Lea counties as it targets Permian Basin production in excess of 1 million barrels of oil equivalent per day by 2024.

Among other oil and gas companies, Range Resources Corp. dropped 5.91% on light volume to $8.76; Helmerich & Payne Inc. shed 4.48% on above-average volume to $55.48; and National Oilwell Varco Inc. receded 3.23% in light trading to $23.95.

The S&P 500 Energy Sector index lost 1.05% to close at 468.23, and the Alerian MLP Index slipped 0.50% to end at 253.43.

American Resources Corp. shares slumped 7.41% on slim volume to conclude at $3.25, after the metallurgical coal supplier to the steel industry reported a net loss attributable to shareholders of $10.1 million, or 48 cents per share, for the first quarter, compared with a loss of $2.8 million, or $2.96 per share, in the prior-year period.

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