Energy stocks are narrowly mixed this afternoon, with the NYSE
Energy Sector Index down about 0.1% while shares of energy
companies in the S&P 500 are up less than 0.1% as a group.
Crude oil for July delivery cents is down 21 cents per barrel while
July natural gas cents is up 5 cents to $3.95 per 1 million
In company news, Inergy LP (
) is up 4.9% to $14.83 per unit after the pipeline company
completed its pro rata distribution of 56.4 million units of its
Inergy Midstream (
) affiliate. Each NRGY unitholder received 0.432052 NRGM units for
each NRGY unit they now own.
NRGY also said it expects to continue to pay quarterly cash
distributions of at least $0.29 or more. NRGM most recently paid
out $0.395 per unit in its cash distribution.
NRGM units are down about 1.1% at $22.64 each.
In other sector news,
(+) IOC, (+0.8%) Proxy advisory firm Institutional Shareholder
Services reverses previous recommendation, now telling shareholder
they should support a management proposal to adopt new by-laws
regarding the company's advanced notice provisions.
(+) FANG, (+0.2%) Prices upsized offering of 6 million shares at
$34.75 apiece, generating around $208.5 million in gross proceeds.
The oil and gas company and its underwriters added an extra 1
million shares to their original plan to issue 5 million shares in
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