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Monday's Energy Stocks: AltaGas up 2.74%, most energy equities post gains

The S&P 500 gained 0.19% to close at 2,877.13 on Monday, Sept. 10, breaking its four-day losing streak as technology equities made a recovery. Most major energy indexes also finished on the positive side of the ledger. The Dow Jones Industrial Average lost 0.23% to close the day at 25,857.07.

Among top performers in oil and gas, TC PipeLines LP shares advanced 2.42% to $34.76 on low volume, Genesis Energy LP stock climbed 2.13% on light volume to finish at $24.40, and Energy Transfer Partners LP inched up 1.89% on active volume to $22.64.

Plains All American Pipeline LP stock decreased 0.95% to $25.03 on slightly above-average volume after a California jury found the partnership guilty on nine charges, Friday, Sept. 7, stemming from a 2015 oil spill in Santa Barbara County, including a felony for failing to properly maintain a high-pressure oil line that spilled at least 123,000 gallons of crude into the Pacific Ocean.

ONEOK Inc. stock gave away 1.94% to close at $64.56 on brisk volume; National Oilwell Varco Inc. slipped 1.33% to $43.65 in heavy trading; and EQT Corp. shares lost 1.27%, closing at $45.97 on below-average volume.

The S&P 500 Energy Index trimmed 0.02% to close at 534.83, while the Alerian MLP Index gained 0.45% to end the day at 280.31.

In gas utilities, New Jersey Resources Corp. shares retreated 1.50% to close a slow session at $46.05. The company named Stephen Westhoven as president and COO. Westhoven will take over Oct. 1.

AltaGas Ltd. shares gained 2.74% to close a brisk session at C$24.34. The Calgary, Alberta-based gas utility agreed to divest noncore natural gas midstream and power assets in Canada and the U.S. for about C$560 million, which would be used to pay down a significant part of the bridge facility related to its recently closed acquisition of WGL Holdings Inc.

Just Energy Group Inc. agreed to acquire Filter Group Inc., a provider of home water filtration systems, to diversify its product mix with noncommodity product and service offerings. Just Energy shares spiked 2.53% in heavy trading to wrap the session at C$4.05.

SCANA Corp.'s shares declined 2.54% on below-average volume to $35.67, while FirstEnergy Corp. shares added 1.65% to $38.13 on high volume and NRG Energy Inc. shares gained 1.32% on light trading to close at $35.26.

The S&P 500 Utilities Index gained 0.58% to close at 273.96.

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