Closing Glance: Utility company shares close higher
NEW YORK—Shares of utility companies closed mostly higher Thursday as the broader market posted gains and bond yields fell.
Bond yields declined to 3.78 percent from 3.85 percent late Wednesday, making utility company dividends more attractive to income-focused investors. Meanwhile, after spending much of the day on the downside, oil gained 16 cents to settle at another record high of $123.69 a barrel, and continued to gain in electronic trading.
Here is how some utilities fared in Thursday's session:
American Electric Power Co. Inc. gained 10 cents, to $43.82.
Pepco Holdings Inc. slipped 7 cents, to $24.57.
Consolidated Edison Inc. added 16 cents, to $41.88.
Southern Co. edged up 6 cents to $36.39.
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