Sector Update: Energy

Last Updated: Tuesday, October 4, 2022 3:37 PM | MT Newswires

Energy stocks added to their prior gains this afternoon, with the NYSE Energy Sector Index up 3.4% in late trade and the SPDR Energy Select Sector ETF (XLE) climbing 3.6%. West Texas Intermediate crude oil settled $2.89 higher at $86.52 per barrel and Henry Hub natural gas futures rose $0.37 to $6.84 per 1 million BTU. In company news, American Electric Power (AEP) gained 2.3% after the utility company raised the mid-point of its FY22 earnings forecast when it narrowed its guidance to a new range of $4.97 to $5.07 per share compared with its prior outlook expecting between $4.87 to $5.07 per share. Analysts polled by Capital IQ, on average, are expecting $4.99 per share.

Share this article:

Related Companies

You May Also Like

Related Articles

Strong Payrolls Data, Rising Wages Drag Equities Mostly Lower

Sector Update: Health Care Stocks Rise Friday

Sector Update: Financial Stocks Trim Early Losses Friday Afternoon

Sector Update: Tech Stock Afternoon Recovery Stops Short of Positive Finish

Related Companies