Midstream stocks rally as FERC makes concessions for natural gas pipeline operators

Midstream stocks rally as FERC makes concessions for natural gas pipeline operators

Summary of today's energy market action:
  • A mixed bag on oil markets today as WTI rose 1% while Brent dipped 0.4%.
  • The discount on Canadian light and heavy oil both widened today, offsetting some of the gains for Canadian crude streams.
  • Midstream stocks were the best performing energy sub-sector on both sides of the border on news that FERC will provide some income tax allowances for companies that operate interstate natural gas pipelines.
  • Today's notable winners include TransCanada (TRP +5.4%), Williams Co (WMB +3.4%) and Enbridge (ENB +2.3%).
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$72.58▼0.446.88
 
79.80
WTI$69.46▲1.044.40
 
74.15
CDN LT$62.96▲0.241.58
 
69.32
C5+$68.36▲1.043.62
 
71.40
WCS$43.46▲0.230.41
 
56.21
TSX ENERGY
COMPANY TICKER CLOSE %CHG L 52WK H RANK 
INTEGRATED
SuncorSU54.11▲0.837.75
 
55.3592
Imperial OilIMO43.14▼1.433.43
 
44.9181
Husky EnergyHSE20.27▼1.114.09
 
21.3088
MIDSTREAM
EnbridgeENB46.74▲3.837.36
 
53.0076
TransCanadaTRP59.41▲5.450.28
 
65.1879
Pembina PipelinePPL46.34▲1.637.60
 
47.0283
Inter PipelineIPL24.46▲0.521.36
 
27.9235↓
Keyera KEY37.16▲1.531.20
 
40.1773
Enbridge Income FundENF32.76▲2.326.36
 
33.0594
Gibson EnergyGEI17.40▼0.215.68
 
19.3839↓
LARGE E&P
Canadian NaturalCNQ46.62▼0.736.75
 
49.0881↓
Cenovus EnergyCVE13.51▼1.29.03
 
14.8478↓
EncanaECA17.19▲0.911.05
 
18.0680↑
PrairieSkyPSK25.10▲1.124.28
 
35.909
TourmalineTOU24.37▲0.517.78
 
28.7488↑
SERVICES
ShawcorSCL26.75▼1.023.60
 
30.1052
Mullen Group MTL16.15▲0.814.10
 
17.6286↑
CES Energy SolutionsCEU4.78▲0.44.39
 
7.348
Pason SystemsPSI20.89▲0.816.05
 
21.9685
EnerflexEFX14.69▲0.813.55
 
19.0841↑
Parkland FuelPKI34.20▲0.123.41
 
34.5395

TSX ENERGY
VERSUS TSX & SUB-SECTORS
S&P 500 ENERGY
COMPANY TICKER CLOSE %CHG L 52WK H RANK 
INTEGRATED
Exxon MobilXOM82.01▼0.372.16
 
89.3044
ChevronCVX121.67▲0.1102.92
 
133.8834
MIDSTREAM
Kinder MorganKMI17.99▲1.214.69
 
21.2552
Williams CoWMB28.69▲3.424.00
 
33.6750
ONEOKOKE70.44▲0.449.65
 
71.9993
LARGE E&P
ConocoPhillipsCOP69.69▼0.942.27
 
72.5788
EOG ResourcesEOG122.39▼1.081.99
 
128.0373↓
Occidental PetroleumOXY82.98▲0.058.44
 
87.6781↑
Anadarko PetroleumAPC71.08▼0.639.96
 
76.7090
Pioneer Natural ResPXD182.97▲0.4125.46
 
213.4044
SERVICES
SchlumbergerSLB66.92▼0.261.02
 
80.3525
HalliburtonHAL44.96▲0.338.18
 
57.8615
Baker HughesBHGE31.78▼2.425.53
 
38.1020
TechnipFMCFTI30.10▼2.724.53
 
35.0022
National-Oilwell VarcoNOV43.19▼0.129.90
 
46.0083
REFINERS
Phillips 66PSX110.90▼0.180.73
 
122.3862
Valero EnergyVLO107.00▲0.364.22
 
126.9866
Marathon PetroleumMPC72.86▲0.449.30
 
83.3356
AndeavorANDV137.49▲0.389.58
 
151.8989

SPX PERFORMANCE
VERSUS SPX & SUB-SECTORS
NYSE ADRs
COMPANY TICKER CLOSE %CHG L 52WK H RANK 
Royal Dutch ShellRDS.A69.17▲0.453.64
 
73.8657
TotalTOT61.53▼0.849.40
 
64.5970
BPBP44.44▲0.533.90
 
47.8362
EniE37.50▼0.730.13
 
40.1565
EquinorEQNR25.84▼1.017.23
 
28.0672↓

UPDATED: DAILY (END-OF-DAY)

SOURCES:
• OIL PRICES REFLECT NEAR MONTH CONTRACT FROM THE NYMEX/CME GROUP
• EQUITY PRICES PROVIDED BY NYSE & TMX GROUP
• CHARTPACKS COURTESY STOCKCHARTS.COM

NOTES:
• OIL PRICES, FUTURES AND DIFFERENTIALS IN USD/BBL
• C5+ = EDMONTON CONDENSATE
• FUTURES CURVES SHOW PRICES FOR NEAR-MONTH CONTRACT (C1) AND NEXT 5-MONTHS (C2-C6)
• TSX SHARE PRICES IN CAD; S&P 500 PRICES IN USD
• ADR: AMERICAN DEPOSITORY RECEIPTS LISTED ON NYSE IN USD
• SHARE PRICE CHANGES (INCL. NEW HIGHS & LOWS) EXCLUDE DIVIDENDS

RANK:
• BASED ON STOCKCHARTS TECHNICAL RANK (SCTR)
• REFLECTS RELATIVE STRENGTH AMONG OTHER ENERGY STOCKS (PERCENTILE RANKING)
• RISING RANK (↑) REFLECTS INCREASING RELATIVE STRENGTH
• FALLING RANK (↓) REFLECTS DECREASING RELATIVE STRENGTH.
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