Top Energy Stocks
Energy stocks were narrowly mixed this afternoon with the NYSE Energy Sector Index slipping about 0.1% while shares of energy companies in the S&P 500 were up 0.6% as a group. Crude oil for September delivery settled 73 cents higher at $103.02 per barrel while August natural gas fell 1 cent to $3.76 per 1 million BTU.
In company news, Regency Energy Partners LP ( RGP ) shares turned negative in late Wednesday trading after the oil and gas pipeline company priced an upsized $700 million offering of 5.00% senior notes due 2022 at 99.158% of their face value.
The company plans to use net proceeds from the offering - which was increased by $200 million shortly before pricing - to repay existing debt owed under its revolving credit facility.
RGP shares were down 0.6% at $31.61 in recent trade, giving back an earlier rise to a new six-year high of $32.35 a share.
In other sector news,
(+) TLM, Confirms approach by Spanish energy giant Repsol SA ( REPYY ) about several potential transactions it did not identify.
(-) HERO, Surprise Q2 net loss of $0.06 per share trails analyst consensus looking for a $0.02 profit by $0.06 per share. Revenue climbs 14.8% year over year to $242.9 mln, lagging Street view by $1.64 mln.
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