News
The day at a glance · 2 min read
Mood · Cautious
+15
Sentiment, −100 to +100
Southern Q3 Adj. EPS
$1.94
Utility Sector Performance
Phillips 66 Q3 Refining EBITDA
$6.28B
Refining & Downstream
Chevron Refinery Utilization
98%
Refining & Downstream
Key driverUtility earnings strength from data center demand offset by policy uncertainty following midterm elections
Daily briefEnergy· Money365.Market AI ·

Utilities Beat on Data Center Demand; Refining in Focus

Southern exceeds guidance as electricity demand rises; Phillips 66 and Chevron detail Q3 refining performance

Utility Sector Performance

Bullish
01SO
Southern Company ($SO) expects to exceed its original 2026 adjusted earnings guidance after third-quarter results benefited from warmer weather, growing electricity use and rising demand from large customers, including data centers. The utility reported adjusted earnings per share of $1.94 for the third quarter.
02NEE
NextEra Energy ($NEE) beat earnings estimates alongside Southern, with both utilities cashing in on data center demand. One utility has faster growth while the other has a steadier paycheck, creating a decision point for retirees choosing between dividend stocks.

Refining & Downstream

Neutral

Chevron Hess Charge

$4B
01PSX
Phillips 66 ($PSX) delivered a remarkable Q3 2026, with $6.28B in refining EBITDA, nearly matching analyst estimates. Valuation leaves no margin for error despite the strong quarterly earnings performance.
02CVX
Chevron Corporation ($CVX) ran its refineries at 98% utilization during the third quarter. The company's third-quarter adjusted EPS of $5.28 beat estimates of $4, though its January report must absorb a $4 billion Hess charge.
03VLO
Valero Energy ($VLO) made the Zacks Rank #1 (Strong Buy) growth stocks list for November 9, 2026.

Midstream Infrastructure

Bullish

Targa 2026 Adj. EBITDA Guidance

$6B+
01TRGP
Targa Resources ($TRGP) expects 2026 adjusted earnings before interest, taxes, depreciation and amortization to reach at least $6 billion, as record Permian Basin volumes and a long-term agreement with ExxonMobil ($XOM) support plans for further infrastructure expansion.

Policy & Market Outlook

Neutral
01OXY
Markets opened the week digesting last week's Democratic midterm sweep and Thursday's market weakness. Investors are reassessing policy risks now that Democrats control Congress opposite President Trump, with Occidental Petroleum ($OXY) among tickers watched as inflation data takes center stage with October CPI on Tuesday and PPI on Friday.
02XOM
ExxonMobil ($XOM) is viewed as better positioned than the Energy Select Sector SPDR Fund ($XLE) post-election, according to market commentary.
03COP
ConocoPhillips ($COP) appeared in dividend announcements for the October 31-November 6, 2026 period.

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