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Power utilities lose their luster after a disappointing 4Q14 (Part 1 of 5) Power utility on a losing streak
The power utilities sector was down for the third week in a row. The Utilities Select Sector SPDR (XLU) fell by 3.0% in the week ended February 13, 2015. Poor fourth-quarter earnings releases from many large power companies led to a deep correction in XLU. XLU has fallen by 8.1% in the last three weeks. It’s is a key ETF in the power utility industry.
Meanwhile, the SPDR S&P 500 ETF Trust (SPY), which is a key ETF tracking the S&P 500 (SPX) benchmark index, gained by 2.1% for the week.
Gainers last week
Few power companies managed gains last week. Dynegy (DYN) was the biggest gainer, with 3.7% of weekly gains for the week ended February 13, 2015. Dynegy closed the week at $28.39 per share.
Besides Dynegy, Covanta Holdings (CVA), Calpine (CPN), and NRG Energy (NRG) ended the week with positive returns. Covanta and Calpine gained 2% and 0.9%, respectively, for the week ended February 13, 2015. During the week, NRG shares were up by 0.4%.
Except Covanta, all other firms we’ve mentioned above operate as unregulated power companies in the US. Recovery in natural gas prices helped these stocks withstand the heavy selling pressure seen in the sector. We’ll cover this in detail in the last article of this series.
Continue to Part 2 Browse this series on Market Realist:
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Dynegy Inc.
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CODE : DYN |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Dynegy est une société de production minière basée aux Etats-Unis D'Amerique. Dynegy est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 4,3 milliards US$ (4,0 milliards €). La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2000 à 90,12 US$, et son plus bas niveau récent le 27 avril 2012 à 0,30 US$. Dynegy possède 131 350 008 actions en circulation. |