Broader U.S. benchmarks posted mixed results on Thursday, Feb. 1, with energy stocks following the same trend.
The Dow Jones Industrial Average advanced 0.14% to finish the day at 26,186.71, while the S&P 500 lost 0.06% to close at 2,821.98. The SNL Energy Index kicked off the month shedding 0.63% to wrap the session at 283.49.
In the midstream sector, MPLX LP saw units rise 2.02% on brisk trading to close at $37.95 after releasing fourth-quarter financial results. The master limited partnership posted adjusted EBITDA of $569.0 million in fourth-quarter 2017, up from $391.0 million during the same period of the prior year. MPLX is also looking to grow its presence in the southwestern U.S. and seek opportunities in the long-haul transportation business.
MPLX general partner Marathon Petroleum Corp. shares retreated 0.84% to finish at $68.69 on high volume after the company reported $2.02 billion in fourth-quarter earnings on strong performance from its refining and marketing segment.
On its earnings call, Marathon management outlined increased capital expenditure plans of $3.97 billion during 2018. The company also closed its $8.1 billion drop-down of refining logistics assets and fuels distribution services to MPLX.
The SNL Midstream Energy Index gained 0.53% to close at 114.31.
Among gas utilities, Spire Inc. stock declined 4.96% in heavy trading to finish at $63.20 after the release of quarterly results. The company posted adjusted net income of $57.9 million, or $1.19 per share, in the fiscal first quarter, up from $47.5 million, or $1.04 per share, a year ago.
The SNL Gas Utility Index declined 1.26% to finish at 552.24.
In power, NRG Energy Inc. spiked 1.61% to close at $26.43 on below-average volume, while Ormat Technologies Inc. lost 1.00% to close a light session at $69.38.
In renewables, Advanced Energy Industries, Inc. completed the acquisition of privately held Trek Holding Co. Ltd. in an all-cash transaction valued at about $12 million. Advanced Energy stock grew 2.38% in light trading to end the session at $72.82.
The SNL Merchant Generator Index decreased 0.01% to end the day at 106.50.
In electric utilities, SCANA Corp. stock took a hit when the Public Service Commission of South Carolina issued a directive denying an expedited hearing in Dominion Energy Inc.'s plans to acquire the company. SCANA shares slid 3.86% to close heavy trading at $39.07, and Dominion's shares lost 0.71% on above-average volume to finish at $75.90. SCANA shares opened the week Jan. 29 at $43.30.
WEC Energy Group Inc. stock gave up 2.64% in brisk trading to finish at $62.60 after releasing financial results. The company reported adjusted net income for full-year 2017 of $997 million, or $3.14 per share, up from $941.1 million, or $2.97 per share in 2016.
The SNL Electric Company Index lost 1.45% to close at 472.07.
March natural gas futures were sharply lower as natural gas inventories fell by less than both expectations and the five-year average. The contract traded to a $2.837/MMBtu better-than-three week low following the midmorning release of the latest storage data and closed the session 13.9 cents lower at $2.856/MMBtu.
Market prices and index values are current as of the time of publication and are subject to change.
