Broader U.S. markets closed Monday, March 5, on a positive note with most energy industries also performing well.
The Dow Jones Industrial Average gained 1.37% to close the day at 24,874.76, and the S&P 500 added 1.10% to finish at 2,720.94.
In the midstream sector, Chesapeake Energy Corp. shares spiked 5.41% to close an active day at $3.12, as the company's campaign to stop spending more cash than it takes in from operations bore some positive fruit March 5 with an across-the-board, one-notch credit upgrade by S&P Global Ratings.
Among top gainers, Genesis Energy LP units climbed 3.43% to close a brisk session at $20.51, EQT Corp. shares inched up 3.12% to close at $51.89 on slim volume and Plains All American Pipeline LP shares moved up 2.88% to finish the day at $22.13 on light volume.
Summit Midstream Partners LP shares lost 1.80% to wrap at $16.35 on low volume, and Tallgrass Energy Partners LP shares decreased 1.36% to finish at $38.56 on high volume.
Among gas utilities, Southwest Gas Holdings Inc. stock gained 5.33% to close a robust session at $67.56, Northwest Natural Gas Co. shares ticked up 3.46% to close at $53.75 on heavy volume and New Jersey Resources Corp. shares increased 3.02% to finish a light session at $39.20.
In power, NRG Energy Inc. stock gained 3.80% to finish a strong session at $28.95, while NRG Yield Inc. shares retreated 1.37% to close at $15.88, on high volume and Ormat Technologies Inc. continued its losses into Monday losing 1.18% to close a brisk session at $56.03.
The renewable energy sector booked a profitable day with TerraForm Power Inc, First Solar Inc. and Canadian Solar Inc posting gains. TerraForm Power shares grew 2.84% to wrap a light session at $11.60, First Solar shares spiked 2.67% to close at $66.05 on thin volume and Canadian Solar stock rose 2.40% to end at $16.23 on below-average volume.
Among electric utilities, Duke Energy Corp. shares grew 2.84% to close at $77.49 on below-average volume, Westar Energy Inc. shares gained 2.66% to wrap a heavy session at $50.15, Great Plains Energy Inc. shares advanced 2.53% to finish a slow session at $30.01 and Consolidated Edison Inc. ticked up 2.34% to close at $76.09 on normal volume.
In coal, Warrior Met Coal Inc. stock retreated 2.55% to finish a brisk session at $30.62, Arch Coal Inc. shares declined 1.89% to end the session at $97.17 on above-average volume and Westmoreland Resource Partners LP declined 1.85% to close at $2.65 on slim volume. CNX Resources Corporation shares outperformed the sector, gaining 4.37% in brisk trading to close at $17.45.
April natural gas futures were little changed on Monday. Caught between changing weather patterns that should drive near-term demand support but longer-range pressure, the contract moved on both sides of the ledger and settled 0.9 cent higher at $2.704/MMBtu.
Market prices and index values are current as of the time of publication and are subject to change.
