Inergy L.P. (NRGY): Today's Featured Utilities Loser
Inergy L.P (NRGY) pushed the Utilities sector lower today making it today's featured Utilities loser. The sector as a whole closed the day up 1.3%. By the end of trading, Inergy L.P fell 34 cents (-1.3%) to $26.68 on average volume. Throughout the day, 492,376 shares of Inergy L.P exchanged hands as compared to its average daily volume of 611,400 shares. The stock ranged in price between $26.56-$27.18 after having opened the day at $27.08 as compared to the previous trading day's close of $27.02. Other company's within the Utilities sector that declined today were: Evergreen Energy Inc (EEE), down 25.6% and Niska Gas Storage Partners (NKA), down 2.4%. Inergy, L.P. engages in the retail marketing, sale, and distribution of propane to residential, commercial, industrial, and agricultural customers in the United States. Inergy L.P has a market cap of $3.17 billion and is part of the utilities industry. Shares are down 31.1% year to date as of the close of trading on Thursday. TheStreet Ratings rates Inergy as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.
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