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Sector Update: Energy Stocks Rising Near Friday Close

05/07/2021 11:56

03:48 PM EDT, 05/07/2021 (MT Newswires) -- Energy stocks extended their advance, with the NYSE Energy Sector Index climbing 1.5% this afternoon while the SPDR Energy Select Sector ETF was up 1.8%. The Philadelphia Oil-Service Sector index was posting a 4.3% gain in late regular-hours trading and the Dow Jones US Utilities Index was 0.5% higher.

Front-month West Texas Intermediate crude oil was $0.19 higher at $64.90 per barrel while the global benchmark Brent crude contract was adding $0.06 to $68.15 per barrel. Henry Hub natural gas futures rose $0.03 higher at $2.96 per 1 million BTU.

In company news, Enerplus (ERF) gained 5.5% after overnight saying its non-GAAP Q1 net income more than doubled over year-ago levels, rising to C$0.23 per share and beating the Capital IQ consensus by C$0.06 per share. The oil and natural gas producer also increased its quarterly dividend by 10% to C$0.033 per share.

Broadwind (BWEN) rose 3.4% after the turbine equipment company reported a Q1 net loss of $0.07 per basic share, reversing a $0.06 per share profit during the same quarter last year but still beating the Capital IQ consensus expecting a $0.17 per share loss.

Pembina Pipeline (PBA) slid 2.6% after reporting Q1 net income of C$0.51 per share, unchanged from the year-ago quarter and trailing the Capital IQ consensus expecting C$0.57 per share.

Calumet Specialty Products Partners LP (CLMT) dropped 8.6% after the specialty hydrocarbons company saw its Q1 net loss widen to $1.82 per unit from a $0.18 per unit loss during the same quarter in 2020 and missing the Capital IQ consensus looking for a net loss of $0.57 per share.