Sector Update: Energy

By Staff,

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Energy stocks are broadly higher with the NYSE Energy Sector Index climbing 1.3% while shares of energy companies in the S&P 500 are ahead 1.8% as a group. Crude oil for October delivery rose $1.11 to settle at $104.99 per barrel. September natural gas was up 9 cents at $3.55 per 1 million BTU.

In company news, Williams' Cos. Inc ( WMB ) is up 3.2% in late trade at $35.96 a share after its board of directors approved an 3.9% increase in its quarterly dividend over the prior quarter to $0.36625 per share, payable Sept. 30 to shareholders of record on Sept. 13.

The Q3 dividend is 17.2 percent higher than the year-ago amount. The company also reaffirmed 2013-2015 guidance expecting 20% annual dividend growth.

In other sector news,

(+) ZAZA, CEO Todd A. Brooks buys 1.5 million shares of the company's common stock in a private placement priced at 92 cents each.

(+) MRO, Raised to Outperform at Raymond James, citing valuation, "robust" cash flow.

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
Referenced Stocks: WMB

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