Sector Update: Energy


Shutterstock photo

Energy stocks are flat this morning following a 0.99% decline for the NYSE Energy index (^NYE) and the S&P Energy index (^IXE) falling 1.08% during Wednesday's session.

Crude oil is flat to slight higher this morning, with April NYMEX currently up 3 cents at $107.10 per barrel. Brent futures also are higher and the April contract now fetching $123.39 a barrel, up 71 cent. Natural gas is off just under 7 cents at $2.547 per 1 million British Thermal Units.

In company news, EV Energy Partners, L.P. ( EVEP ) shares were lower in late trade last night after reporting Q4 earnings of $0.27 per share, including one-time items that may not be comparable with the Thomson Reuters consensus of $0.57. In the prior-year period, the oil and gas exploration company posted $0.55 loss per share. Revenues rose 38% to $66.83 million, missing the analysts' expectations for $70.07 million in revenues in Q4.

Also this morning, Green Plains Renewable Energy ( GPRE ) shares are nearly 7% lower after the ethanol producer announced plans to repurchase 3.7 million shares from its largest individual shareholder, NTR plc. GPRE also will sell 3.0 million shares of common stock now held by NTR under the company's shelf registration statement, reducing NTR's ownership stake to around 3.5%. GPRE is using a combination of cash and debt to buy its stock from NTR.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities
More Headlines for: EVEP , GPRE

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by