NEW YORK (TheStreet) -- Shares of Peabody Energy (BTU) closed up 4.76% to $10.78 on Wednesday after the Republicans won control of both the House of Representative and the Senate in Tuesday's election.
Investors and analysts had expected a Republican victory to provide a boost to energy stocks, which have been suffering this week thanks to plummeting oil prices.
With some results remaining undecided, the Republicans won 52 seats in the Senate to the Democrats' 43 and 244 seats in the House compared to 180 for the Democrats. The party will control both houses of Congress for the first time since 2006 when the new Congress takes office in January.
More than 17.3 million shares changed hands on Wednesday, compared to the average volume of 11,003,000.
Separately, TheStreet Ratings team rates PEABODY ENERGY CORP as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PEABODY ENERGY CORP (BTU) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, generally high debt management risk, poor profit margins, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."