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Friday's Energy Stocks: Cheniere gains on $1.01B buy out deal; broad markets recover

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Friday's Energy Stocks: Cheniere gains on $1.01B buy out deal; broad markets recover

Recoveringfrom Thursday's trading, broader markets closed the Friday, Sept. 30, sessionon a high note as the Dow Jones Industrial Average gained 0.91% to 18,308.15and the S&P 500 climbed 0.80% to 2,168.27. Energy equities on Friday endedmixed, with the SNL Energy Index dropping 0.02% to 283.05.

Amongmidstream players Cheniere EnergyInc. picked up 0.53% in heavy volume to finish at $43.60, followingits plan to buy outthe remaining Cheniere EnergyPartners LP Holdings LLC shares it does not own in astock-for-stock deal valued at $1.01 billion.

"Webelieve the proposed transaction is attractive to investors in Cheniere PartnersHoldings who, as new LNG shareholders, would have the opportunity toparticipate in the future success of the entire Cheniere complex," saidJack Fusco, president and CEO of Cheniere. Cheniere Partners Holdings rose6.96% in brisk trading to settle at $22.74.

lifted 5.30% inabove-average volume to close at $35.36, after completing its with . Under the deal, Rose Rockunit holders will receive 0.8136 SemGroup share for every Rose Rock unit theyown.

Sharesof Plains All American PipelineLP spiked 1.09% in robust trading to finish at $31.41, afterreducing itsquarterly distribution by 21% to 55 cents per common unit. Meanwhile,Plains GP Holdings LPmoved up 0.31% in weak volume to close at $12.94 after lowering its quarterlydistribution by 11% to 20.65 cents per class A share. The distributions will bepayable Nov. 14 to holders of record at the close of business Oct. 31.

ascended 4.03% in brisk volume to settle at $24.26, after a private placement of20,930,233 common units for gross proceeds of about $450 million, part of whichwould be used to fund the drop-down of midstream assets from 's pending acquisitionof Vantage Energy LLCand Vantage Energy II LLC. Rice Energy ended 3.90% higher in strong volume to$26.11.

TheSNL Midstream Index advanced 0.97% to 121.97.

Novembernatural gas futures were lower Sept. 30 pressured by the expectation of demanderosion due to the arrival of mild weather. The contract tumbled to a$2.892/MMBtu intraday low before reversing to a still 5.3 cents lower on thesession at $2.906/MMBtu.

Insolar stocks First Solar Inc.ticked up 1.05% in light trading to end at $39.49 and shed 1.22% in robusttrading to finish at $8.92, after Williams Capital Group LP coverage on the companies.Analyst Cynthia Motz initiated First Solar Inc. at "buy" and with a$50 target price and SunPower at "hold" with a $9 target price.

WilliamsCapital sees near-term challenges for the solar sector, including companiesrecording lower revenues and earnings in 2017. Williams Capital launched itscoverage of the alternative energy and clean technology sector with a long-termbullish view.

retreated0.27% in average volume to end at $33.08. CreditSights has on the debate about thefuture of the company's generation business, with analysts opining that thecompany is "incredibly unlikely" to sell or spin

"Anypotential sale or spinoff has incredibly high hurdles and we see zero buyersfor a partial IPO of the unit and we cannot imagine [FirstEnergy] shareholders,likely low risk tolerance income funds & retail investors, want to receiveindividual shares in [FirstEnergy Solutions] via a spinoff," CreditSightsanalysts wrote in a report.

TheSNL Electric Company Index declined 0.86% to 428.40.

plummeted 61.06%in strong volume to settle at 18 cents, after what it sees an idealfinancial and energy landscape of its share of the coal marketplace. In aninvestor presentation, Arch drew attention to improvements and adjustments inthe domestic and global coal markets, allowing the company to emerge as anactive metallurgical and thermal coal producer. The SNL Coal Index went up1.26% to 71.08.

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