In a mixed day for energy markets on Tuesday, key indexes and commodities experienced significant fluctuations. The NYSE Energy Sector Index, the Energy Select Sector SPDR Fund (NYSEARCA:XLE (NYSE:XLE)), and the Philadelphia Oil Service Sector Index all declined by approximately 1%, while the Dow Jones US Utilities Index saw an uptick of 2.1%.
West Texas Intermediate crude oil price was down 2.1% to $83.66 a barrel and Brent crude contract also fell, dropping 1.8% to $88.19 a barrel. Meanwhile, Henry Hub natural gas futures went against the grain with a rise of 0.9%.
Despite the overall downturn in the sector, some companies managed to buck the trend. NextEra Energy (NYSE:NEE) Partners reported Q3 earnings that surpassed expectations, according to a Capital IQ transcript. However, its revenue fell short of predictions. The company's CFO, Terrell Crews, also announced plans to upgrade about 740 megawatts of wind facilities by 2026. This news led to a 14% surge in the company's stock.
Halliburton (NYSE:HAL) also posted positive Q3 results, with net income rising to $0.79 per share from $0.60 in the same period last year, surpassing analysts' expectations of $0.77 per share. Despite this upbeat performance, its shares fell by 2.8%.
Elsewhere in the sector, BWX Technologies (NYSE:BWXT) secured a $300 million contract for naval nuclear reactor fuel, which nudged its shares up by 0.5%.
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