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Opening Glance: Utilities Open Mixed
Opening Glance: Utilities Open Mixed Wednesday April 9, 10:43
am ET
Utilities Open Mixed on Rising Natural Gas Prices, Falling Bond Yields
NEW YORK (AP) -- Shares of utility companies opened mixed Wednesday as natural
gas prices increased but bond prices also rose.
Futures for natural gas, a key expense for many utilities, rose more than 7
cents to $9.77 per 1,000 cubic feet.
Rising bond prices cut the yield on the benchmark 10-year Treasury note, which moves opposite its price, to 3.52 percent from 3.56 percent late Wednesday. Lower bond yields make the dividends of utility companies more attractive for conservative investors.
Here is how some utility companies fared in early trading.
American Electric Power Co. Inc. rose 16 cents to $43.23.
Pepco Holdings Inc. fell 29 cents to $24.17.
Consolidated Edison Inc. rose 25 cents to $41.75.
Southern Co. rose 26 cents to $36.52.