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Tuesday's Energy Stocks: Wall Street drifts lower, utilities advance

Editor's note: The daily markets column will be discontinued on Dec. 31. Daily stock pricing moves are available on the "Markets and Deals, Pricing Highlights" page of the Market Intelligence platform.

Wall Street drifted lower in a holiday-shortened session Tuesday, Dec. 24, while electric and diversified utilities reversed sector and broader market declines.

The Dow Jones Industrial Average dropped 0.13% to 28,515.45, and the S&P 500 dipped 0.02% to 3,223.38.

Hawaiian Electric Industries Inc. shares retreated 0.21% on light volume to $46.60. Three of its subsidiaries will start working under the Hawaiian Electric brand name in January 2020.

AES Corp. dropped 0.30% in light trading to $19.76. The company amended a credit agreement to reduce the aggregate commitments for the revolving credit loan facility by $100 million to $1.0 billion and extend the maturity date to Dec. 20, 2024.

Duke Energy Corp. finished 0.09% higher on light volume to $90.23. Duke Energy is reportedly selling its 40-story, under-construction Charlotte Metro Tower in uptown Charlotte, N.C., in a sale-and-leaseback deal for up to $675 million.

Innergex Renewable Energy Inc. was down 0.12% in light trading on the Toronto Stock Exchange to close at C$17.05. S&P Global Ratings placed its BBB- issuer credit rating on Innergex and its BB issue-level ratings on the company's preferred shares on CreditWatch with negative implications.

Among other electric and diversified utilities, Entergy Corp. gained 0.73% to $119.44 and NextEra Energy Inc. added 0.72% to $240.51, while Avangrid Inc. shed 1.44% to $50.64.

The S&P 500 Utilities Sector increased 0.10% to 325.36.

Among notable movers in the oil and gas sector, Callon Petroleum Co. retreated 3.31% to $4.67. Noble Energy Inc. was up 1.28% to $24.61 and Devon Energy Corp. climbed 1.18% to $26.54, while Apache Corp. declined 1.36% to $26.17.

In the master limited partnerships sector, TC PipeLines LP added 2.72% to $42.70, NGL Energy Partners LP rose 2.48% to $11.56, and Genesis Energy LP picked up 1.07% to $20.70.

The S&P 500 Energy Sector was down 0.05% to 457.06, while the Alerian MLP Index moved up 0.07% to 220.26.

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

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.