Top Energy Stocks
Energy stocks were broadly higher with the NYSE Energy Sector
Index rising about 1.0% while shares of energy companies in the
S&P 500 also were ahead 0.1.2% as a group. Crude oil for May
delivery settled 2 cents lower at $103.75 per barrel while May
natural gas was down 4 cents at $2.53 per 1 million BTU.
In company news, shares of Targa Resources Corp (
) rose Wednesday after late yesterday announcing a 6.6% increase in
its quarterly dividend to $0.6475 per share, payable May 16 to
shareholders of record on April 28.
Directors of TRGP's managing partner, Targa Resources Partners
), also boosted that company's quarterly distribution by about 2%
over the prior quarter to $0.7625 per unit, also payable May
TRGP shares were up 1.4% at $106.40 each near today's close.
NGLS units were down 0.7% at $60.51 in late trade.
In other sector news,
(+) ATHL, Climbs to record high after boosting its outlook for
full-year production by around 17% over its prior guidance, now
saying it will likely average between 23,000 to 24,250 barrels of
oil equivalent per day.
(-) EC, Cut to Sell from Neutral with $37 price target at
Citigroup, citing valuation. EC also said Columbian Ministry of
Finance and Public Credit authorized up to $2 bln for debt
offerings in the international capital markets through 2016.
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