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:
October 27, 2020
For more information about S&P Dow Jones Indices, please visit www.spdji.com
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
FOR MORE INFORMATION:
S&P Dow Jones Indices
SOURCE S&P Dow Jones Indices