Energy stocks are broadly lower with the NYSE Energy Sector
Index falling about 1.1% and the S&P Energy Index 1.2%. Crude
oil for March delivery is down $1.69 to $95.62 per barrel. March
natural gas is up a penny to $3.18 per 1 million BTU.
In company news, Enbridge (
) shares have recovered early losses and are now slightly higher
and moving back towards 52 week highs after the pipeline company
reported Q4 earnings of $0.42 per share, ex one-time items,
trailing the Capital IQ consensus by $0.02. Revenues rose nearly
32% to $7.17 bln, topping analyst estimates by of $1.27 bln.
The company expects FY13 adjusted EPS of between $1.74 to $1.90,
in-line with the $1.83 per share consensus.
In other sector news,
(-) RIG, (-5.4%) Downgrades by Deutsche Bank and Howard Weil
following last night's fleet status report and news of a federal
judge late yesterday accepting the oilfield services company's
guilty plea to a misdemeanor charge and $400 mln fine for its role
in the 2010 Gulf of Mexico oil spill.
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