Utility sector losers
For the week ending February 27, there were more losers than gainers in the utility sector. Out of 41 publicly traded utilities, only eight advanced and 33 lost. Even the Utilities Select Sector SPDR (XLU) was down 1% last week. XLU is a key ETF in the power utility industry.
NRG Energy lost 5.6%
NRG Energy (NRG) was the biggest loser last week. The stock lost 5.6% to end the week at $23.98 compared to $25.39 at the end of the week before. The company reported its 4Q14 earnings on Friday, February 27. While the company swung to a profit of $119 million (21 cents a share) from losses in 4Q13, the recovery wasn’t enough to cheer markets, which expected a profit of 93 cents a share.
Other notable losers
Dynegy (DYN) lost 4.9% to end the week at $27.87. DYN also published its earnings last week. Losses, after adjusting for non-recurring gains, came in at 99 cents a share compared to analyst expectations of 96 cents.
OGE Energy (OGE) and Centerpoint Energy (CNP) lost 4.5% and 4.3%, respectively. Most of these falls came on or after February 26, when both companies published their 4Q14 earnings. Overall, the week was a forgettable one for the utility sector.