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Thursday's Energy Stocks: Devon Energy climbs nearly 4.7% on Barnett Shale deal

Broader markets closed the Thursday, March 8, trading day on the positive side of the ledger, after President Donald Trump implemented steel and aluminum import tariffs, temporarily excluding Canada and Mexico.

The Dow Jones Industrial Average settled 0.38% higher at 24,895.21, while the S&P 500 saw an increase of 0.45% to close at 2,738.97.

Devon Energy Corp. agreed to sell the southern portion of its Barnett Shale position to an undisclosed buyer for $553 million. Analysts praised the move and the company's stock price closed 4.65% higher on heavy volume to $32.39.

FuelCell Energy Inc. stock price closed 5.26% higher to $1.80, after a robust trading session. The company narrowed its adjusted EBITDA loss to $2.8 million in the first quarter of fiscal 2018, from an adjusted EBITDA loss of $6.5 million in the year-ago period.

Hess Corp. shares rose 0.47% in above-average trading to close at $46.70. The company will repurchase $1.0 billion of its common stock by the end of 2018 via a $500 million accelerated stock repurchase program and a $500 million repurchase in the open market.

Enterprise Products Partners LP saw its shares tick up 1.00% on thin volume to finish at $25.18. During an investor day conference, company executives said Enterprise remains committed to self-funding at least part of its equity needs in 2019, but rising commodity production could push the company to access public funds for demand-induced projects.

Among other midstream giants, Enbridge Inc. gained 1.43% on light volume to $31.88, Phillips 66 closed up 1.03% on below-average volume to $95.19, while Energy Transfer Partners LP declined 1.46% in weak trading to $17.55.

Sunrun Inc. shares climbed 2.22% to end a brisk session at $6.91. During the company's earnings conference, CEO Lynn Jurich said that Sunrun would continue to expand its market share after an estimated 4-percentage-point jump in 2017. Sunrun's surge comes amid rival Tesla Inc.'s strategic shift in its energy division, which sharply eroded its solar sales in the second half of 2017.

Tesla retreated 0.96% on light volume to finish at $329.10. Among other solar stocks, Vivint Solar Inc. spiked 6.67% on strong volume to close at $3.20, and SunPower Corp. added 1.22% in light trading to settle at $7.44.

April natural gas futures finished lower Thursday, March 8, as inventories eroded at a pace below the five-year average and medium-term weather forecasts show the return of average and above-average temperatures to the major heat-consuming regions of the U.S. The contract ended the session 2.1 cents lower at $2.756/MMBtu.

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