Wall Street indexes posted mixed results Monday, Nov. 27, coming off the Thanksgiving holiday weekend, while most energy benchmarks declined.
The Dow Jones Industrial Average increased 0.10% to close at 23,580.78, while the S&P 500 declined 0.04% to finish the session at 2,601.42. The SNL Energy Index lost 0.17% to 287.61 at market close.
In the midstream sector, Dominion Energy Midstream Partners LP shares decreased 2.07% in value to $30.75 on slow volume, Enbridge Energy Management LLC shares retreated 4.36% to close at $12.28 on high volume, Enbridge Energy Partners LP shed 4.26% to close at $12.58 on above-average volume, and QEP Resources Inc. fell 3.82% to finish the day at $9.07 on low volume.
CVR Refining LP increased 2.02%, reaching $12.65 on active volume. Carrizo Oil & Gas Inc. saw an 8.78% drop in share price, closing at $18.29 on roughly average volume as it continues with its ongoing noncore divestiture program. The company is moving to sell all of its assets in the DJ Basin for $140 million, on the heels of $128 million of asset sales to exit the Appalachian Basin.
SandRidge Energy Inc.'s board of directors adopted a short-term shareholder rights plan in connection with the proposed merger with Bonanza Creek Energy Inc. Sandridge stock ended the day 2.80% lower at $18.37, and Bonanza Creek shares lost 2.15% to close at $27.77, both on active volumes.
Black Stone Minerals Company LP stock climbed 4.07% to close at $17.65 on high volume after the company agreed to buy mineral and royalty assets in major U.S. oil and gas production areas, including the Permian Basin and the SCOOP play, from subsidiaries of Noble Energy Inc. for $340 million. Noble Energy's shares were down 1.73%, closing at $25.54 on slow volume.
The SNL Midstream Energy Index shed 1.28% to close at 101.54.
In the power sector, Kenon Holdings Ltd. saw a 6.81% hike in share price to $19.76 on heavy volume after I Squared Capital agreed to purchase a 3,400-MW portfolio of Latin American and Caribbean power assets from Kenon subsidiary Inkia Energy Ltd.
Among IPPs, Dynegy Inc. posted a 2.17% decrease in share price to close at $12.15 on above-average volume. In the renewable sector, Sunrun Inc. stock advanced 2.53% to $6.08, SunPower Corp. shares added 2.23% to finish the day at $8.24, and First Solar Inc. added 1.72% to close at $61.65, all on thin volumes.
The SNL Merchant Generator Index rose 0.06% to finish the day at 103.91.
In coal, Arch Coal Inc. shares dropped 2.65% to close at $78.84 on slim volume, and Alliance Holdings GP LP shed 2.54% to end the day at $24.95 on heavy volume.
The SNL Coal Index retreated 1.56% to 64.81 at market close.
After sinking 15.5 cents in the Nov. 24 session, NYMEX December natural gas futures reversed course Monday to end the day more than 11 cents higher amid technical buying and short covering ahead of options expiration at the closing bell.
Market prices and index values are current as of the time of publication and are subject to change.
