Sector: Energy & Utilities
Among the top utility stocks in 2019, Southern Company (SO) leads the pack. The stock has rallied almost 30% in 2019. Southern Company has shown an unusual rally in the last few months.
Last week, US crude oil August futures rose 8.8%—the highest weekly gain for active US crude oil futures since December 2, 2016. US crude oil August futures closed at $57.43 per barrel on June 21.
HollyFrontier (HFC) stock has fallen 18% in the second quarter. A weak refining environment weakened impacted HFC stock in the fourth quarter, causing its 50 DMA (day moving average) to break below its 200 DMA.
The utilities sector continues to offer a premium dividend yield along with stable upward price movement. On average, utility stocks are currently yielding 3.2%, while broader markets offer a yield close to ~2%.
Yesterday, US crude oil’s implied volatility was 41.3%, 14.4% above its 15-day average.
On June 11, natural gas July futures rose 1.8% and settled at $2.399 per MMBtu (million British thermal units).
ExxonMobil's second-quarter upstream production is expected to be in line with its first-quarter output.
With a mean target price of $34, Enterprise Products Partners offers an upside potential of 21% from its current price.
Last week, Icahn sued Occidental Petroleum to gain access to corporate records related to what he believes is a hugely overpriced deal to acquire Anadarko.
Phillips 66 (PSX) stock has fallen 7.7% in the past month, higher than the fall in the broader market indicator, the SPDR S&P 500 ETF (SPY).