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EQT

Energy Sector Update for 04/06/2015: MILL,EQT,EVEP,WPZ,WMB,MHR

Top Energy Stocks

XOM +1.30%

CVX +1.90%

COP +3.69%

SLB +2.09%

OXY +2.84%

Energy stocks were ending sharply higher Monday with the NYSE Energy Sector Index rising almost 2.1% and the S&P Energy Index also climbing about 2.1%. Crude oil for May delivery settled $3.00 higher at $52.14 per barrel while May natural gas futures fell 6 cents to $2.65 per 1 million BTU.

In company news, Miller Energy Resources ( MILL ) rallied Monday after the oil and natural gas producer today named Phillip Elliott as its new chief financial officer.

Elliott joins MILL from EQT Corp. ( EQT ), where he worked for nearly 20 years, playing a significant role in growing the company's exploration and production business as well as the formation of an affiliated master limited partnership. He takes over from Chief Accounting Officer Jeff McInturff, who handled CFO responsibilities on an interim basis.

MILL shares were up more than 31% at 98 cents each, earlier topping out today at $1.04 a share. The stock has traded within a 52-week range of 62 cents to $6.60 a share, sinking almost 66% over the past 12 months prior to today's advance.

In other sector news,

(+) EVEP, Williams Partners ( WPZ ) agrees to increase its ownership stake by another 21% to 70% in the Utica East Ohio Midsteam Partner for around $575 mln. In a related move, Williams ( WMB ) agrees to waive around $43 mln in incentive distribution right payments through 2017.

(-) MHR, Reduced to Hold from Buy at Wunderlich Securites, which also set a $2.20 a share price target for the stock.

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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