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Friday's Energy Stocks: Cloud Peak falls 21.7% on earnings, broader markets rise

Wall Street capped the Friday, Feb. 16, trading day with gains as the Dow Jones Industrial Average added 0.08% to close at 25,219.38, and the S&P 500 finished up 0.04% at 2,732.22. In the energy sector, coal and midstream companies reversed the general upward trend among other energy equities.

SunPower Corp. gained 3.38% on light volume, settling at $7.64. The company has sold its 49% stake in the 100-MW Boulder Solar 1 facility in Nevada to New Energy Solar Ltd. for $55 million.

Shares of DTE Energy Co. climbed 2.01% in strong trading to finish at $105.22, after recording $224 million, or $1.26 per share, in fourth-quarter 2017 operating earnings. The results beat the S&P Capital IQ consensus normalized EPS of $1.19. DTE expects to balance impacts from a new federal tax law on its rate-based revenues with higher earnings from its nonutility businesses.

Among other utilities, ALLETE Inc. closed up 1.26% to $69.34, Alliant Energy Corp. added 1.79% to $39.75, and Edison International increased 1.60% to settle at $61.05, all in active trading.

Enbridge Inc. saw a decrease of 0.81% in robust trading to close at $34.27, after reporting fourth-quarter 2017 adjusted earnings of C$1.01 billion, an increase from C$522 million in the year-ago quarter. The company unveiled plans to shed noncore assets worth about C$3 billion this year, as it pivots to a "pure pipeline utility model," CEO Al Monaco said in an earnings call.

Keyera Corp. rose 3.17% on brisk volume to finish at C$33.88, after posting fourth-quarter adjusted EBITDA of C$197.4 million, an increase from C$153.5 million a year earlier. Keyera is building out its infrastructure to take advantage of rising demand for gathering and processing capacity in Canada, officials said during an earning call.

Among other midstream companies, Targa Resources Corp. shed 3.89% to end at $47.91, Williams Cos. Inc. lost 3.57% to close at $28.91, and Dominion Energy Midstream Partners LP retreated 4.95% to finish at $25.95, all in brisk trading.

Cloud Peak Energy Inc. tumbled 21.73% on heavy volume to finish at $3.35, after it posted net income of $17.8 million in the fourth quarter, compared with $24.5 million in the prior-year period. The company is focusing on international markets and the prospect of diminishing utility stockpiles for future coal sales.

March natural gas futures tripped lower Friday, as the market shrugged off the possibility that the titular withdrawal season will end on March 31 with inventory at the second lowest level since 2010. The market instead favored lower demand outlooks supported by weather. The contract closed the week down 2.2 cents on the day at $2.558/MMBtu.

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