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Tuesday's Energy Stocks: An early down day closes strong for Street

A late-day rally in the chemical, aviation and technology sectors on Tuesday, Sept. 10, erased losses from earlier in the trading day and left broader markets with slight gains. Energy-specific indexes also posted gains.

The Dow Jones Industrial Average grew 0.28% to 26,909.43, and the S&P 500 inched up 0.03% to 2,979.39.

Running ahead of the market, Schlumberger Ltd. stock rose 3.39% to $37.46; Occidental Petroleum Corp. shares advanced 3.25% to $46.43; and oil major Chevron Corp.'s stock picked up 2.06% to $121.85, all on active volume.

LNG exporter Cheniere Energy Inc. subsidiary Cheniere Energy Partners LP upsized and priced its previously announced offering of senior notes due 2029, boosting the offering from $1 billion to $1.50 billion. Cheniere Energy stock added 2.35% to $63.92 on active volume.

Suncor Energy Inc. stock grew 2.21% to $30.55 on slightly below-average volume. The company will spend C$1.4 billion to build an 800-MW natural gas-fueled cogeneration plant that will produce power for the Alberta grid and replace coke-fired steam generation units at an oil sands facility.

Chesapeake Energy Corp. shares slid 3.17% to $1.83 on more than twice the average volume after the company entered into a private securities exchange agreement to issue a total of 250,721,554 common shares for approximately $588 million of preferred shares and senior notes.

Holly Energy Partners LP stock shrank 2.87% to $27.09; Range Resources Corp. shares lost 1.53% to $4.51; and Hess Corp. stock shed 1.33% to $63.21, all in heavy trading.

The S&P 500 Energy Index increased 1.29% to 446.98, and the Alerian MLP Index climbed 0.29% to 233.86.

Among electric and diversified utilities, PG&E Corp. saw its shares drop 2.59% to wrap an active session at $10.90. After the market's close on Sept. 9, PG&E filed a joint plan of reorganization, along with principal subsidiary Pacific Gas and Electric Co., with a federal court in San Francisco, more than seven months after filing for Chapter 11 bankruptcy protection.

Among notable performers in the sector, Edison International stock added 2.35% to $72.79, and PPL Corp. stock increased 2.21% to $30.00, on above-average volume, and AES Corp. stock picked up 1.00% to $15.18 in below-average trading.

Not faring well were the stocks of Portland General Electric Co., down 1.27% to $55.11, and Consolidated Edison Inc., slipping 1.17% to $89.33, both in active trading.

The S&P 500 Utilities Index was up 0.10% to 315.43.

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