Tradingof Peabody Energy Corp.shares was halted the morning of Wednesday, April 13, following the company's of bankruptcy protection.Shares of the company closed at $2.07 on April 12.
The bankruptcyincludes most of the company'sU.S. operations, but excludes its Australian subsidiaries. St. Louis-based Peabodywarned bankruptcy was possible if it was unable to complete a deal with for severalof its coal mines because it would not have enough liquidity to avoid filing forChapter 11 bankruptcy.
"Thiswas a difficult decision, but it is the right path forward for Peabody. We begintoday to build a highly successful global leader for tomorrow," Peabody Presidentand CEO Glenn Kellow said.
jumped 45.53%in heavy trading to end at $1.79 on news that it is nearing a deal with bondholders. The company announced anotherextension of a forbearance agreement with certain holders of its 7.875% senior notesdue 2021.
The extension,which runs through April 15, comes a day after the partnership's last deadline passed.
Amongother coal stocks, CONSOL Energy Inc.lifted 1.48% to $13.73 and AllianceHoldings GP LP climbed 3.13% to $16.15, both in light trading. The SNLCoal Index advanced 2.49% to 45.73.
In themidstream space, Enterprise ProductsPartners LP rose 0.20% in weak volume to finish at $25.06 and shed 1.07% inbelow-average trading to end at $18.56.
gained 1.21% inthin volume to end at $31.91 after increasingits quarterly distribution by about 10.2% over that of the prior-year quarter, andby about 2.7% over that of the previous quarter.
The SNLMidstream Energy Index closed 0.05% up to 101.19.
lost 0.74% in below-averagevolume to end at $79.63 and SouthernCo. fell 0.81% in light trading to close at $50.36. On April 12, SunTrustanalysts lowered their price targets by $2 to $82 for Duke and by$1 to $51 for Southern,MarketBeat reported.
dropped 0.01% to $76.55in light trading. Bank of America Merrill Lynch downgradedthe company to "neutral" from "buy" on April 12, according toStreetInsider.com.
The PhiladelphiaUtility Index dipped 0.70% to 616.90.
advanced 0.09% in strongtrading to finish at $55.36 after closingits $4.7 billion acquisition by a MacquarieInfrastructure & Real Assets Inc.- led investor group. Cleco shareholderswill receive $55.37 per share, under terms of the merger agreement.Cleco common stock was delisted from the New York Stock Exchange, and trading wassuspended after market, effective at the close of trading April 13.
In solarstocks, First Solar Inc.rose 2.17% in brisk volume to finish at $61.65, and SunPower Corp. climbed 2.90% in weak trading to end at $21.66.Guggenheim Securities LLC believes the two companies and their joint yieldco will beable to withstand SunEdison Inc.'s"collapse," Investors Business Daily reportedApril 13.
8point3Energy Partners gained 0.76% in light trading to end at $14.62 and SunEdison sharesfell 7.48% to 37 cents. Bloomberg reported that SunEdison on April 1 misseda $2.6 million bond payment, putting the company "likely in technical default,"CreditSights analyst Greg Jones said, according to the publication.
May naturalgas futures extended gains Wednesday, April 13, as the market anticipates that naturalgas production decline will begin to balance the market. The contract 3.2 cents higher at $2.036/MMBtu.
The SNLEnergy Index fell 0.29% to 262.02, the Dow Jones Industrial Average gained 1.06%to 17,908.28 and the S&P 500 rose 1% to 2,082.42.
Market prices and index valuesare current as of the time of publication and are subject to change.