Sector Update: Energy

Last Updated: Tuesday, October 19, 2021 3:32 PM | MT Newswires

Energy stocks eased during afternoon trading, with the NYSE Energy Sector Index Tuesday climbing 0.6% while the SPDR Energy Select Sector ETF (XLE) was up 1.0%. The Philadelphia Oil-Service Sector index was hanging on for a 0.1% gain and the Dow Jones US Utilities Index was 1.2% higher. Front-month West Texas Intermediate crude oil settled $0.52 higher at $82.96 per barrel while Henry Hub natural gas futures rose $0.10 to $5.08 per 1 million BTU. In company news, Sempra (SRE) climbed 1.6% after Morgan Stanley increased its price target for shares of the electric and natural gas utility company by $6 to $155 each while Mizuho Securities raised its price target for the stock by $15 to $154 a share. KeyBanc Tuesday also boosted its price target for Sempra shares by $2 to $142 apiece. They also all kept their respective investment ratings for the stock.

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