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In This List

Wednesday's Energy Stocks: Talk of potential sale boosts TerraForm Global shares

Essential Energy Insights - September, 2020

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Wednesday's Energy Stocks: Talk of potential sale boosts TerraForm Global shares

jumped8.62% in strong trading to close at $3.53 on Wednesday, July 20. The yieldcoaffiliate of bankrupt renewable energy developer may help market itssponsor's interest in the holding company as part of a "jointly-supportedsales process," according to SEC filings.

Thefate of TerraForm Global and TerraForm Power Inc., SunEdison's other yieldco, hasbeen one of the central questions in the developer's $16 billion bankruptcy.The companies, which were not listed in their sponsor's Chapter 11 filing inApril, are seen as essential to SunEdison's fundraising efforts.

Meanwhile,there is "an elevated probability" that , ayieldco sponsored by Brookfield Asset Management, "could be the ultimateowner of TerraForm Power," CreditSights analysts Greg Jones and AndyDeVries said.

Brookfieldshares remained unchanged at $30.83 after Guggenheim Securities LLC the shares to"buy" and assigned a $33 price target. TerraForm Powerrose 3.51% in weak trading to close at $12.40.

Amongutility stocks, American ElectricPower Co. Inc. lost 0.60% to $69.35, fell 0.68% to$77.30 and Duke EnergyCorp. dropped 0.54% to $84.92, all in below-average volume.

Inthe midstream sector, KinderMorgan Inc. advanced 0.68% in heavy trading to close at $22.09.After trading hours, the company reported second-quarter net income available to commonstockholders of $333 million, or 15 cents per share, unchanged from theyear-ago period. The S&P Capital IQ consensus normalized EPS estimate forthe most recent quarter was also 15 cents.

fell 2.01% inheavy volume to end at $41.03 after reaching a $177 million settlement with the U.S. EPA andthe U.S. Department of Justice over two oil pipeline spills in 2010.

"Thissettlement will make the delivery of our nation's energy resources safer andmore environmentally responsible," said John Cruden, assistant attorneygeneral for the DOJ's Environment and Natural Resources Division. "Itrequires Enbridge to take robust measures to improve the maintenance andmonitoring of its Lakehead pipeline system, protecting lakes, rivers, land andcommunities across the upper Midwest, as well as pay a significant penalty."

climbed 1.55% in thin trading to close at $33.34 after its second-quarter cashdistribution by 31.6% year over year. Phillips66 Partners LP also climbed 0.44% in weak volume to finish at $55after raising itssecond-quarter 2016 distribution by 26% year over year.

TheSNL Midstream Energy Index gained 0.66% to 120.22.

Amongcoal stocks, Alliance Holdings GPLP gained 2.43% in below-average trading to close at $23.98,CNX Coal Resources LProse 2.20% in brisk volume to end at $11.14 and advanced0.92% in light trading to finish at $20.79. The SNL Coal Index rose 1.82% to59.97.

Augustnatural gas futures on July 20 fell 7.0 cents during the session, at $2.658/MMBtu.

TheDow Jones Industrial Average rose 0.19% to 18,595.03 and the S&P 500climbed 0.43% to 2,173.02.

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