Most markets are higher this morning as risk-on sentiment dominates: New Fortress Energy Inc., PG&E Corporation, Algonquin Power & Utilities Corp. are showing impressive gains as we move into the afternoon trading session.
Markets are up as S&P 500 up to 4,032, gaining 1.27%. Nasdaq up 1.62%, trading at 11,649.
Meanwhile, United States ISM Non-Manufacturing PMI (Feb) came out at 55.1, while a consensus of analysts was expecting 54.5.
Here are the biggest utilities stocks gainers so far today.
+3.19%: after ending the last session at $15.85, Pacific Gas & Electric surges to $16.36 (up 3.19%)
The gas and electric company spikes to $16.36, gaining 3.19%. Currently, the gas and electric company has a market capitalization of $37.26 billion with an average daily volume of 13.44 million shares. So far this year, it has been under-performing the Nasdaq by 8.31%.
+3%: after closing the last session at $7.64, Algonquin Power & Utilities rallies to $7.87 (up 23 cents)
The Canadian renewable energy provider gaining 3% and hovering around the $7.87 level. The company has a market cap of $5.38 billion with an average daily trading volume of 4.56 million shares. So far this year, it has been outperforming the Nasdaq by 4.13%.
New Fortress Energy | +4.35% in mid-session
The clean energy provider is now trading 33.16% below its 3-month high of $61.7. New Fortress Energy's market cap currently stands at $7.46 billion with an average daily trading volume of 1.78 million shares.
New Fortress Energy released its quarterly earnings Tuesday, beating analysts estimates. The company reported earnings of 0.87 per share on revenue of $731.93 million, topping estimates of 0.73 per share on revenue of $618.64 million. Since the release of its earnings report, New Fortress Energy lost 7.74%.