Closing Glance: Utility company shares mostly close lower
NEW YORK—Shares of utility companies mostly fell Tuesday as Treasury bonds lost value, lifting their yields to more effectively compete with utility company dividends.
The benchmark 10-year Treasury declined in late afternoon trading 1/32 to 97 1/32 and yielded 3.87 percent, up from 3.84 percent late Monday, according to BGCantor Market Data. Prices and yields move in opposite directions.
Here is how some utility shares fared:
American Electric Power Co. Inc. fell 34 cents to $44.32.
Pepco Holdings Inc. fell 53 cents to $25.08.
Consolidated Edison Inc. rose 19 cents to $42.26.
Southern Co. fell 15 cents to $36.66.
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