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Thursday's Energy Stocks: SolarCity stocks fall after Musk defends Tesla deal

Shares of SolarCity Corp. fell 2.04% on light volume to finish at$26.40 on Thursday, July 21.

The decrease in the company's shares came after Chairman andCEO Elon Musk, in his "Master Plan, Part Deux," the rationale and timing of hiscompany's proposed takeover of the rooftop solar company while at the same timepushing a vision for an expanded product line of electric vehicles withself-driving technology. Tesla Motorsshares were down 3.44% at $220.50 in below-average trading.

Shares of AltaGas Ltd. advanced 6.74% on strong volume to closethe day at C$33.20 after the company increased its annual dividend payout by 6.1% to C$2.10per share after reporting a record second-quarter normalized EBITDA of C$153million, up 43% year over year. The company recorded second-quarter normalizedEBITDA of C$1.01 on a per-share basis. Company shareholders as of Aug. 25 willreceive 17.5 Canadian cents per share in dividends Sept. 15.

UnitilCorp. shares increased 3.21% to settle at $44.66 after the companybooked ayear-over-year increase in second-quarter 2016 net income to $2.5 million, or18 cents per share, from $1.7 million, or 12 cents per share, a year ago,thanks in large part to higher natural gas sales margins. Unitil's gas salesmargins increased $1.7 million year over year to $19.8 million during the mostrecent quarter.

Shares of Spark Energy Inc. gained 0.55% in average trading to endthe session at $25.71 after the retail energy provider said it to record adjustedEBITDA between $10.0 million and $12.0 million for the second quarter of 2016.

The SNL Electric Company Index closed up 0.57% to 445.47,while the 10-year Treasury yield dropped to 1.57% from 1.59%.

Among midstream energy names, shareslost 5.76% to $6.05 after the partnership upsized its recently announced public offering to3,300,000 common units, priced at $5.90 per unit. Previously, the offering wasfor 3,000,000 units. The underwriter is now granted a 30-day option to buy upto 495,000 additional units.

Shares of Magellan Midstream Partners LP retreated 1.65% to $72.80after the partnership's quarterly cash distribution to 82 cents per unit, or $3.28per unit on an annualized basis.

Kinder MorganInc. shares shed 5.16% to $20.95, and shares of slid 2.99% to $31.14.

The SNL Midstream Energy Index dipped 1.24% to 118.73.

In the gas utility space, Northwest Natural Gas Co. shares saw a 0.88% rise to$65.06, and shares of ONE GasInc. finished 0.47% up at $65.63. shares advanced0.46% to settle at $56.50, while shares of Southwest Gas Corp. earned 0.40% to $77.74.

The SNL Gas Utility Index rose 0.26% to 533.86.

August natural gas futures finished the Thursday, July 21, trading sessionon the positive side of the ledger with the contract price boosted followingthe release of the U.S. Energy Information Administration storage report thatoffered another downside miss against outlooks and historical averages. Thefront-month contract settled the session 3.4 cents higher at $2.692/MMBtu.

The Dow Jones Industrial Average decreased 0.42% to18,517.23, and the S&P 500 dropped 0.36% to 2,165.17.

Market prices andindex values are current as of the time of publication and are subject tochange.