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Energy Sector Update for 02/20/2015: TEP,ERF,IVAN

Top Energy Stocks

XOM +0.28%

CVX +0.11%

COP -0.18%

SLB -1.17%

OXY -0.63%

Energy stocks pared some of their earlier losses this afternoon with the NYSE Energy Sector Index sinking 0.3% while shares of energy companies in the S&P 500 were down almost 0.4% as a group in late trade. Crude oil for March delivery settled 82 cents lower at $50.34 per barrel while front-month natural gas futures rose 12 cents to $2.95 per 1 million BTU.

In company news, Tallgrass Energy Partners ( TEP ) was sharply higher in late Friday trading, holding within relatively close range of its new all-time high after late yesterday reporting Q4 per-share earnings and revenue topping analyst expectations.

The oil and natural gas pipeline company earned $0.45 per share during the three months ended Dec. 31, beating the Capital IQ consensus by $0.03 per share. Revenue rose 26.2% year over year to $109.5 million, trailing estimates by slightly more than $9 million.

TEP units were up more than 9% at $52.73 apiece in late trade, climbing back near its new record high of $52.96 a share set earlier today. Over the past 12 months, the stock already had risen more than 71% prior to today's price gain.

In other sector news,

(+) ERF, Posts a nearly five-fold jump in Q4 EPS over year-ago levels to $0.74, handily beating Street view by $0.46 per share.

(-) IVAN, Announces plans to seek protection under the Bankruptcy and Insolvency Act in Canada, adding the company continues to pursue strategic alternatives, including debt restructuring and possible asset sales.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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