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Monday's Energy Stocks: SunEdison falls on bankruptcy report; merchant sector declines

Shares of SunEdisonInc. crumbled 50.93% on brisk volume to 21 cents on Monday, April 4.

The fall came after Bloomberg News cited sources familiarwith the matter and reported that the debt-laden company is more than 1,000 MW of solarphotovoltaic projects in India for sale as it prepares to file for bankruptcy.

SunEdison subsidiary TerraForm Global Inc. shares tumbled 6.84% in strongtrading to close the day at $2.18, after the company said it to acquire the Esprahydroelectric plant in Brazil by paying a $10.0 million fee to Renova EnergiaSA.

The worst performer among merchant generators was , shares ofwhich fell 7.73% to end the session at $9.07. Shares of saw a 5.78% declineto settle at $9.46, while CalpineCorp. shares finished 4.48% lower at $14.72 in weak trading. Sharesof Dynegy Inc.dropped 4.42% to $14.26.

The SNL Merchant Generator Index closed down 1.65% to 95.56.

May natural gas futuresbriefly moved back above $2/MMBtu Monday, April 4, supported by weatheroutlooks that turned colder, particularly in the Northeast. The cooldown isexpected to drive strong demand during what is typically the onset of theshoulder season. Reaching a $2.074/MMBtu intraday and near three-month high,the front-month contract reversed the larger gains to finish up 4.2 cents at$1.998/MMBtu.

In the midstream energy space, shares of lost2.33% to settle at $20.09, after SpectraEnergy Corp.'s indirect subsidiary, , agreed tosell its ownershipinterests in Spectra's Canadian NGL business to the partnership's forabout C$200 million.

Spectra Energy shares earned 0.63% to $30.29.

EnterpriseProducts Partners LP shares rose 0.25% to $24.25, after thepartnership said it has soldan aggregate of 66,837,916 common units from Jan. 1 to April 1, for about $1.58billion. Some of the common units were also sold under the partnership'semployee unit purchase plan, the filing said.

Decreases in the sector stocks were led by , shares of whichdropped 18.09% to 27 cents on brisk volume. Shares of shed8.07% to 51 cents, whereas EnergyTransfer Equity LP shares slid 4.80% to $6.55.

The SNL Midstream Energy Index dropped 1.35% to 93.24.

Among gas utilities, Northwest Natural Gas Co. led the losses as its sharesretreated 2.02% to $52.78. Shares of NationalFuel Gas Co. fell 3.13% to $48.63, and sharesdropped 1.97% to $27.88. Shares of WGLHoldings Inc. closed 1.43% lower to $71.08.

The SNL Gas Utility Index saw a 0.85% decrease to 503.65.

The Dow Jones Industrial Average dipped 0.31% to 17,737.00and the S&P 500 dropped 0.32% to 2,066.13.

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