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Friday's energy stocks: IPPs, electric utilities gain, fending off broader trend


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Friday's energy stocks: IPPs, electric utilities gain, fending off broader trend

Broad U.S. benchmarks struggled to grab on to gains on Friday, Dec. 29, bidding 2017 adieu. Most energy stocks gained at market close.

The Dow Jones Industrial Average lost 0.48% to close the day at 24,719.22, and the S&P 500 decreased 0.52% to finish the last working day of the year at 2,673.61. The SNL Energy Index dipped 0.05% to finish at 285.98.

Among top dogs in the midstream sector, CVR Refining LP stock gained 2.80% to finish the day at $16.55 on slightly above-average volume. Suburban Propane Partners LP shares added 2.37% to $24.22 on high volume and NGL Energy Partners LP shares hiked 2.18% to finish a slow day at $14.05.

Spectra Energy Partners LP stock trimmed 3.87% to end at $39.54 on heavy volume. Southwestern Energy Co. lost 3.13% to end the session at $5.58 after active trading, and Cheniere Energy Partners LP Holdings LLC shares declined 2.98% after heavy trading to close at $27.69.

The SNL Midstream Energy Index did not fare that well, losing 0.27% to end the year at 109.40.

Among major independent power producers, Dynegy Inc. stock rose 2.60% to close at $11.85, NRG Energy Inc. share hiked 1.68% to finish the day at $28.48, and Covanta Holding Corp. units increased 1.20% to end the session at $16.90, all on on light volume.

In renewable power sector, Sunrun Inc. shares retreated 2.80% to end the day at $5.90 on below-average volume; SunPower Corp. shares lost 2.88% in value to finish the day at $8.43, also on low volume; and Vivint Solar Inc. stock, however, gained 1.25% to wrap up at $4.05 on about average volume.

The SNL Merchant Generator Index added 0.26% to close at 105.00.

In electric utility sector, Otter Tail Corp. lost 1.22% per share to close at $44.45, and Edison International stock gave up 1.09% to call it a wrap at $63.24, both on thin volume. The SNL Electric Company Index retreated 0.17% to finish the day at 481.71.

Among big coal extractors, CNX Resources Corporation shares shaved off 2.27% to end the session at $14.63 on less than half the average volume. Alliance Resource Partners LP advanced 2.07% to close light trading at $19.70, and Alliance Holdings GP LP shares spiked 1.82% to close at $26.79 on slim volume.

The SNL Coal Index surged 4.86% to end 2017 on a high note at 74.74.

While breaching resistance at $3.00/MMBtu on Friday, Dec. 29, and posting a three-week high at $3.008/MMBtu, February 2018 natural gas futures gave back the lion's share of the day's gains as the rally began to show signs of exhaustion. The contract settled just 3.9 cents higher at $2.953/MMBtu.

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