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Monday's Energy Stocks: Sempra surges 15.54% on call for review

Wall Street indexes gave back gains at the end of the trading day Monday, June 11, while utilities generally ended in negative territory. The Dow Jones Industrial Average finished the day up 0.02% to 25,322.31 and the S&P 500 climbed 0.11% to 2,782.00.

Sempra Energy shares surged 15.54% on about six times average trading volume to close at $117.19, after activist investors Elliott Management Corp. and Bluescape Resources Co. LLC called for a strategic review of the company. The review is aimed at unlocking what the hedge funds have identified as an $11 billion-to-$16 billion value creation opportunity.

The California Department of Forestry and Fire Protection said June 8 that equipment belonging to PG&E Corp. unit Pacific Gas and Electric Co. contributed to 12 wildfires in northern California in October 2017, potentially opening up the company to liability. PG&E closed the trading day down 4.08% to $39.76, on nearly three times normal volume.

Among other utilities, DTE Energy Co. declined 2.34% on strong volume to finish at $94.70 after Wells Fargo Securities downgraded the company to "market perform" from "outperform." Williams Capital Group reduced its rating of ALLETE Inc. to "hold" from "buy," and the company's shares dropped 3.00% to $70.92 on above-average volume.

Alliant Energy Corp. retreated 2.17% in light trading to close at $38.38, and American Electric Power Co. Inc. receded 1.84% on heavy volume to end at $62.93. The S&P 500 Utilities Sector was down 0.33% to 244.16.

In the midstream sector, Spectra Energy Partners LP climbed 3.49% to $31.70, Williams Partners LP rose 2.12% to $40.37, and Energy Transfer Partners LP added 2.10% to $19.47, all in below-average trading. The Alerian MLP Index was up 1.58% to 273.68.

Meanwhile, among oil and gas majors, Apache Corp. spiked 5.59% in brisk trading to $44.60, Williams Cos. Inc. advanced 2.41% on light volume to $26.75, and Marathon Oil Corp. picked up 2.29% in light trading to finish at $21.47. The S&P 500 Energy Sector increased 0.36% to 567.05.

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