Top Energy Stocks
Energy stocks were mostly lower Wednesday, with the NYSE Energy Sector Index sinking over 0.8% while shares of energy companies in the S&P 500 were down about 0.5% as a group. Crude oil for March delivery was down 15 cents at $53.05 per barrel while March natural gas futures were six cents higher at $2.96 per 1 million BTU.
In company news, Noble Midstream Partners LP ( NBLX ) climbed to a record high on Wednesday after analysts at Mizuho today raised their price target for the pipeline and infrastructure company by $4 to $51 a share and reiterated their Buy rating for the company's stock.
The move follows Noble Monday saying it was forming a 50/50 joint venture with Plains All American Pipeline ( PAA ) to acquire Advantage Pipeline LLC, which owns a 70-mile crude oil pipeline build in 2013 in the southern portion of the Delaware Basin in Texas, for $133 million in cash and stock.
NBLX shares were up over 2% at $48.13 each, easing from a best-ever $49.79 a share earlier today.
In other sector news,
(+) FANG, (+4.2%) Adjusted Q4 net income of $0.90 per share beats Capital IQ consensus by $0.37 per share. Revenue rises 61.9% year over year to $185 mln, also surpassing the $164.63 mln consensus.
(-) INT, (-14.4%) Non-GAAP Q4 EPS of $0.36 was down from $0.73 per share during same quarter last year and lags Street view by $0.24 per share. Revenue climbs 15.7% over year-ago levels to $7.79 bln, topping the $7.47 bln consensus. Guides FY17 EPS below expectations.
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