NEW YORK, Oct. 20, 2020 /PRNewswire/ -- Atmos Energy Corp.
(NYSE:ATO) will replace CenterPoint Energy Inc. (NYSE:CNP), and
Xcel Energy Inc. (NASD:XEL) will replace NiSource Inc. (NYSE:NI) in
the Dow Jones Utility Average (DJUA) effective prior to the opening
of trading on Tuesday, October
27.
The index changes were prompted by DJUA constituent NextEra
Energy Inc.'s (NYSE:NEE) decision to split its stock 4:1. The
changes help diversify the index at the Global Industry
Classification Standard (GICS) sub-industry group level through the
addition of a pure play gas utility while also removing 2 companies
with very low price weights in the index. Because the index is
price weighted, stocks with low prices tend to have a minimal
impact on the index.
The changes won't disrupt the level of the index. The divisor
used to calculate the index from the components' prices on their
respective home exchanges will be changed prior to the opening on
October 27, 2020. This procedure
prevents any distortion in the index's reflection of the portion of
the U.S. stock market it is designed to measure. The new divisors
can be found in the end-of-day index level files (*.SDL) via the
S&P Dow Jones Indices FTP (EDX) site beginning on Monday, October 26, 2020.
Following is a summary of the changes that will take place prior
to the open of trading on the effective date:
|
Effective
Date
|
Index
Name
|
Action
|
Company
Name
|
Ticker
|
GICS
Sub-Industry
|
|
October 27,
2020
|
DJUA
|
Addition
|
Atmos
Energy
|
ATO
|
Gas
Utilities
|
|
|
Addition
|
Xcel
Energy
|
XEL
|
Electric
Utilities
|
|
|
Deletion
|
CenterPoint
Energy
|
CNP
|
Multi-Utilities
|
|
|
Deletion
|
NiSource
|
NI
|
Multi-Utilities
|
For more information about S&P Dow Jones Indices, please
visit www.spdji.com
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SOURCE S&P Dow Jones Indices