Mainstream benchmarks remained broadly unchanged on Thursday, Sept. 19, a day after the Federal Reserve lowered the interest rate by quarter of a percentage point.
Markets dipped in the last moments of the trading day. The Dow Jones Industrial Average closed down 0.19% to 27,094.79, and the S&P 500 finished unchanged at 3,006.79.
In the oil and gas sector, Antero Midstream Corp. stock dropped 6.49% to $7.20 on high volume. The company has started to strategically evaluate its Clearwater wastewater treatment facility and associated landfill, idling the facilities while this assessment is ongoing.
Equinor ASA stock listed on New York Stock Exchange shed 1.05% to $19.87 on somewhat below-average volume. JPMorgan Cazenove has upgraded the Norwegian state-controlled oil company to "neutral," but lowered Italy's Eni SpA to "underweight."
Range Resources Corp. shares lost 6.80% to close a brisk session at $4.66; EQT Corp. stock tumbled 6.04% to settle at $11.51 on below-average volume; and Noble Energy Inc. gave away 3.88% to $23.30 on high volume.
Occidental Petroleum Corp. shares grew 2.62% to wrap an average session at $45.79. The company's subsidiary Oxy Holding Company (Pipeline) Inc. priced secondary public offerings of Plains All American Pipeline LP common units and Plains GP Holdings LP class A shares, for gross proceeds of $652.2 million in total. Plains All American stock slid 1.28% to $21.58 and Plains GP stock lost 1.11% to $22.22, both in active trading.
Occidental also closed its offer to exchange senior notes and debentures issued by Anadarko Petroleum Corp. for new Occidental notes, accepting for exchange nearly $11.5 billion in valid tenders.
Apache Corp. shares gained 1.30% to $25.76 in below-average trading, while Western Midstream Partners LP closed a robust session 0.82% up at $27.05.
The S&P 500 Energy Index decreased 0.39% to 451.89, and the Alerian MLP Index declined 0.35% to 240.13.
Among electric and diversified utilities, In the power sector, California-headquartered companies were among the day's big performers. PG&E Corp. shares advanced 3.83% to $12.20, and Sempra Energy stock grew 1.13% to $140.81, both on roughly average volume, while Edison International added 0.78% to $72.63 in a light session. PPL Corp. shares gained 1.02% to $31.54 in a slow session.
Dominion Energy Inc. announced plans to develop more than 2,600 MW of offshore wind capacity by 2026 in what the company bills as the "largest offshore wind project" in the U.S. The company's shares picked up 1.07% to $80.92 on below-average volume.
In the renewable energy sector, SunPower Corp. shares rose 4.72% to $15.09; TerraForm Power Inc. stock advanced 2.19% to wrap at $17.73; and First Solar Inc. shares gained 2.01% to $67.07, all on active volume; and Canadian Solar Inc. shares added 1.75% to $22.07 in below-average trading.
The S&P 500 Utilities Index inched up 0.36% to 322.88.
Market prices and index values are current as of the time of publication and are subject to change.
