Top Energy Stocks
Energy stocks were sharply lower Wednesday, with the NYSE Energy Sector Index falling almost 1.0% while shares of energy companies in the S&P 500 were down nearly 1.1% as a group. Crude oil for March delivery was up 22 cents at $53.03 per barrel while March natural gas futures were 4 cents higher at $3.16 per 1 million BTU.
In company news, shares of VTTI Energy Partners LP ( VTTI ) were hanging on to a slim gain during Wednesday trading after the petroleum terminal company raised its quarterly cash distribution by 2.4% over its most recent investor payout to $0.3360 per common unit.
The $0.0049 increase from $0.3281 per unit will be paid Feb. 10 to unitholders of record next Tuesday, Feb. 7, when VTTI Energy also is scheduled to report its Q4 financial results prior to the start of trading. Analysts, on average, are expecting the company to boost revenue for the three-month period ended Dec. 31 by about 4.3% over year-ago levels to $77.5 million. No earnings estimates were available.
VTTI shares were up about 0.3% at $18.55 each, or just 5 cents over its starting mark today and easing from a 1.5% rise to $18.77 soon after today's opening bell.
In other sector news,
(+) ROYT, (+21.0%) Expects to turn a Q1 profit and also resume cash distributions, making more than $2 mln in payments during the current quarter. The company hasn't paid a monthly distribution since January 2016.
(-) CCJ, (-12.4%) Tokyo Electric Power Company Holdings issues termination notice for its uranium supply contract with CCJ.
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