Markets closed with mixed results Monday, March 25, showing little reaction to the conclusion of Special Counsel Robert Mueller's investigation into Russian interference in the 2016 U.S. presidential election.
The Dow Jones Industrial Average inched up 0.06% to close at 25,516.83, while the S&P 500 shed 0.08% to 2,798.36.
In oil and gas, Phillips 66's master limited partnership, Phillips 66 Partners LP, announced it has borrowed $250 million under a new $400 million senior unsecured term loan credit facility that matures March 20, 2020. Phillips 66 Partners stock retreated 1.19% to $52.98, while Phillips 66 shares were down 0.13% to $95.86, both on below-average volumes.
Summit Midstream Partners LP completed its restructuring simplification deal and its $90 million sale of the Tioga crude oil, gas and water gathering system in the Bakken Shale. Summit shares were down 0.83% to $9.58 on slim volume.
Among top performers in the sector, TechnipFMC PLC stock gained 2.82% to $23.30 on brisk volume, EQT Corp. shares gained 2.51% to close a light session at $20.00, and Noble Energy Inc. stock added 1.96% to finish at $24.44 on thin volume.
Holly Energy Partners LP lost 1.95% to $27.21, MPLX LP gave away 1.72% to $33.16, and Halliburton Co. stock slid 1.71% to $28.24, all on below-average trading volumes.
The S&P 500 Energy Index decreased 0.01% to 484.83, and the Alerian MLP Index declined 0.78% to 253.22.
In the electric and diversified utilities sector, PG&E Corp. shares dropped 6.23% to $18.21 on low volume. On Friday, the safety division of the California Public Utilities Commission formally requested to expand its investigation into whether Pacific Gas and Electric Co. falsified tens of thousands of gas safety records to include electric system-related records.
TransAlta Corp. secured a strategic investment of C$750 million from Brookfield Renewable Partners LP to help accelerate the company's transition to 100% clean energy by 2025. TransAlta shares gained 3.85% to close a robust session at C$9.43, while Brookfield Renewable added 0.05% to close at C$42.09.
Emera Inc. stock was up 1.16% to wrap a busy session at C$50.56. The Canadian utility holding company has agreed to sell its Maine operations to Calgary, Alberta-headquartered ENMAX Corp. for US$1.30 billion, comprising US$959 million of shares plus assumed debt.
AES Corp. shares added 1.00% to close a slow session at $18.24. The company is investing heavily in the renewable and battery storage development, with plans to install 12,000 MW of renewables and cut carbon emissions by 50% from 2016 levels by 2022.
NRG Energy Inc. grew 1.51% to close a slow day at $43.13. The S&P 500 Utilities Index increased 0.12% to 297.01.
Market prices and index values are current as of the time of publication and are subject to change.