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Tuesday's Energy Stocks: Coal, midstreams march higher

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Tuesday's Energy Stocks: Coal, midstreams march higher

Chesapeake EnergyCorp. shares shot higher for a secondconsecutive day, rising 34.44% on brisk volume to close at $6.05 onTuesday, April 12.

The sharp rise came as market confidence returned to the U.S.' second-largest natural gas producerafter it secured its $4 billion line of credit with its bank syndicate. But analystscautioned investors that Chesapeake's financial problems were years in the makingand still run deep.

Shares of TallgrassEnergy Partners LP climbed 4.44% in light volume to end the sessionat $38.09 after the partnership and TallgrassEnergy GP LP announced increasedquarterly distributions for the first quarter of 2016. Tallgrass Energy Partners'quarterly distribution was declared at 70.5 cents per unit, or $2.82 on an annualizedbasis. Tallgrass Energy GP's distribution was declared at 21 cents per class A share,or 84 cents on an annualized basis.

Tallgrass Energy GP shares jumped 2.50% to settle at $17.20.

LINN Energy LLCshares surged 48.84% to 48 cents on strong volume and Rose Rock Midstream LP saw a 17.93% increase to close theday at $14.60.

The SNL Midstream Energy Index finished 3.98% higher at 101.14.

In the merchant generator space, Pattern Energy Group Inc. lifted 6.25% to $19.20 on weaktrading. Shares of Abengoa Yield Plcadvanced 3.34% to $17.04, while CalpineCorp. shares earned 2.48% to $14.85. Shares of TransAlta Corp. saw a 2.13% rise to C$6.24.

The SNL Merchant Generator Index went up 1.53% to 96.45.

Losing a collective 10.6 cents in the prior two sessions, front-monthMay gas futures reboundedhigher Tuesday, April 12, on short covering. Trading from $1.922/MMBtu to $2.011/MMBtu,the contract ended above $2.00/MMBtu Tuesday at $2.004/MMBtu, up 9.2 cents.

Among electric utilities, Duke Energy Corp. shares increased 0.98% to $80.22, afterMorgan Stanley Research estimatedthat the total equity value of the company's international business is approximately$2.1 billion with a potential saleresulting in 3% to 4% EPS dilution, or approximately 17 cents per share. Separately,Duke Energy announcedthree C-level appointments, including Dhiaa Jamil to executive vice president andCOO, on May 1.

Shares of EmeraInc. lifted 0.32% to C$47.12, after it and TECO Energy Inc. fileda stipulation agreement with the New Mexico Public Regulation Commission reflectinga settlement with intervening parties in the companies' planned merger.

TECO Energy shares jumped 0.73% to $27.65 on heavy volume.

In coal stocks, CloudPeak Energy Inc. led sectorwide gains and its shares finished 11.58%higher to settle at $2.12. Shares of CONSOLEnergy Inc. advanced 8.41% to $13.53, whereas Natural Resource Partners LP shares surged 5.15% to $9.18.Shares of Alliance Resource PartnersLP climbed 4.91% to $12.82.

The SNL Coal Index closed up 5.91% to 44.62.

The Dow Jones Industrial Average Index rose 0.94% to 17,721.25and the S&P 500 Index gained 0.97% to 2,061.72.

Market prices and indexvalues are current as of the time of publication and are subject to change.