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Tuesday's Energy Stocks: Wall Street, utilities recover from Monday's sell-off

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Tuesday's Energy Stocks: Wall Street, utilities recover from Monday's sell-off

Stocks bounced back on Tuesday, Aug. 6, with the S&P 500 snapping its six-day losing streak and indices recovering from a huge sell-off on Monday.

The Dow Jones Industrial Average rose 1.21% to close at 26,029.52, and the S&P 500 advanced 1.30% to settle at 2,881.77.

In the energy sector, electric and diversified utilities rallied while oil and gas companies logged declines.

Itron Inc. shares jumped 17.08% in brisk trading to finish at $67.86, after posting second-quarter non-GAAP net income attributable to the company of $34.6 million, or 87 cents per diluted share, compared to $20.5 million, or 51 cents per diluted share, a year ago. The S&P Global Market Intelligence consensus normalized EPS estimate for Itron in the quarter was 46 cents.

Duke Energy Corp. gained 2.25% on strong volume to conclude at $88.92, after reporting second-quarter 2019 adjusted earnings of $1.12 per share, rising from 93 cents per share in the comparable quarter of 2018.

Clearway Energy Inc.'s class A shares declined 4.36% in heavy trading to end at $16.01. The company announced second-quarter 2019 adjusted EBITDA of $278 million, down from $304 million in the prior-year period.

Otter Tail Corp. saw a 0.76% increase in active trading to close the day at $51.67, after it reported second-quarter 2019 net income of $15.4 million, or 39 cents per share, down from $18.7 million, or 47 cents per share, in the same period of 2018.

Shares of PPL Corp. increased 2.10% on slightly above-average volume to settle at $29.59, after it announced earnings from ongoing operations of $422 million, or 58 cents per share, in the second quarter of 2019, an increase from $384 million, or 55 cents per share, a year earlier.

AES Corp.'s stock price closed 3.80% lower on brisk volume to finish at $15.70, after it announced adjusted earnings of 26 cents per share in the 2019 second quarter, improving from 25 cents per share the previous year.

UGI Corp. shed 3.54% on strong volume to conclude at $47.67, after reporting adjusted net income attributable to the company of $23.9 million, or 13 cents per share, in the fiscal third quarter, an increase from $15.1 million, or 9 cents per share, the previous year.

The S&P 500 Utilities Sector was up 1.30% to 304.40.

In the oil and gas sector, Chesapeake Energy Corp. shares dropped 10.90% in heavy trading to end at $1.39. The company recorded an adjusted loss attributable to the company of $158.0 million, or a loss of 10 cents per share, for the second quarter, compared to a loss of $118.0 million, or a loss of 13 cents per share, in the second quarter a year ago.

Centennial Resource Development Inc. retreated 9.73% on more than 3x average volume to close at $4.73, after reporting GAAP net income attributable to Class A common stock of $17.9 million, or 7 cents per share, down from the $63.5 million, or 24 cents per share, reported for the second quarter of 2018.

New Jersey Resources Corp. posted a net financial loss of $17.5 million, or a loss of 20 cents per share, in the fiscal third quarter, compared with a loss of $8.0 million, or a loss of 9 cents per share, a year earlier. New Jersey Resources shares were down 3.16% in heavy trading to close at $46.24.

Enable Midstream Partners reported second-quarter adjusted EBITDA of $281.0 million, up from $245.0 million in the prior-year period. The company shares closed 0.84% lower on strong volume to $12.98.

The S&P 500 Energy Sector declined 0.06% to 432.35, and the Alerian MLP Index slid 0.78% to 233.59.

In the coal sector, Hallador Energy Co. saw a 3.10% decrease on light volume to end at $5.00. The company posted a second-quarter 2019 net loss of $3.3 million, or negative 11 cents per share, compared with a net loss of $23,000 in the same quarter in 2018.

Consol Energy Inc. settled 1.99% lower on strong volume to end the day at $18.75, after it booked adjusted net income of $48.8 million, or $1.56 per share, in the 2019 second quarter, compared with $52.7 million, or $1.58 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.