Cheniere Energy Inc (LNG)

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7/14/2014 11:35:14: Sector Update: Energy

01:35 PM EDT, 07/01/2014 (MT Newswires) -- Energy stocks were higher Tuesday with the NYSE Energy Sector Index advancing over 1.0% while shares of energy companies in the S&P 500 were up 0.2% as a group. Crude oil for August delivery was down 28 cents at $105.09 per barrel while August natural gas was down 2 cents to $4.45 per 1 million BTU.

In company news, Profire Energy Inc. (PFIE) Tuesday was swinging through a wide range between moderate gains to steeper losses after the oilfield services company late yesterday reported a fourfold jump in its FY14 per-share earnings over year-ago levels but still trailing analyst projections by $0.01 per share.

After-tax net income for the 12 months ended March 31 rose to a record $5.6 million, or $0.12 per share, up from a $1.4 million profit during the previous fiscal year when it earned $0.03 per share. Analysts, on average were looking for the company to produce a $0.13 per share profit in FY14. according to Capital IQ.

Revenue climbed 110% over prior year to $35.4 million, topping Street view by around $500,000.

PFIE shares opened to the plus side Tuesday, hitting their session high at $4.64 each during the first few minutes of today's session only to soon turn south and falling as much as 5.3% to a morning nadir of $4.27 a share. A mid-morning rally later sputtered after climbing within a few cents of the intra-day high with shares again on an upswing at $4.55 each, up 0.9%
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In other sector news,
(+) USEC, (+130.4%) Uranium miner says it is the company's policy not to comment on unusual market activity with its stock after the New York Stock Exchange contacted the company in accordance with its usual practice.

(-) WGP, (-3.1%) Secondary offering of 5 mln equity units by an Anadarko Petroleum (APC) subsidiary is priced at $60.19 each, a 4% discount to Monday's closing price for WGP shares.

Price: 4.55, Change: +0.04, Percent Change: +0.89

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