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Wednesday's Energy Stocks: Utilities end lower; TerraForm falls after downgrade

Utilitystocks moved lower on Wednesday, March 30, with the SNL Electric Company Indexdropping 0.24% to 419.69 and the SNL Gas Utility Index falling 0.54% to 506.68.

dipped0.71% to $71.60, NextEra EnergyInc. declined 0.43% to $118.50 and gained 0.02% to $51.21,all in light trading.

Ingas utilities, AGL Resources Inc.fell 0.43% in weak trading to end at $64.92 and shed 0.38% inbelow-average volume to finish at $74.05.

fell 0.65% in weaktrading to close at $103.47 after its SempraU.S. Gas & Power LLC subsidiary the sale in Rockies Express Pipeline LLC to .

"Aftercareful evaluation of our natural gas portfolio, we determined that ourminority stake in REX is not consistent with our long-term growth strategy.While REX is an important part of the country's natural gas pipeline system, webelieve that given the changing market conditions, we can more productivelyredeploy the proceeds from the REX sale into long-term growth opportunitiesthat better meet our strategy and risk profile," Sempra U.S. President andCEO Patti Wagner said.

lost 0.48% inlight trading to close at $79.23. The discovery of faulty and missing boltsinside Entergy's Indian Point 2 nuclear reactor has New York Gov. Andrew Cuomo tocall on the U.S. Nuclear Regulatory Commission to deny the relicensing of thenuclear plant.

"Thisis the latest in a long series of incidents that raise deep concerns about themanagement, maintenance and equipment standards at this plant," Cuomo saidin a statement. "While there is no immediate danger to public health andsafety, this troubling news further validates the State's ongoing investigationinto the operations of this aging power plant and our position that it shouldnot be relicensed."

shed 0.55% inheavy trading to close at $61.45, after saying it expects to record apretax charge of $9.7million on its 2016 earnings due to the Montana Public Service Commissiondenying recovery of replacement power costs resulting from a prior outage atthe Colstrip unit 4.

dropped2.67% in brisk volume to finish at $8.38 after it was downgraded by J.P.Morganto "neutral" from "overweight."

"[TerraFormPower] looks inexpensive based on run-off value or discounted dividend; however,we are stepping to the sidelines owing to the delayed 10K filing and risk ofbankruptcy filing by the parent SunEdisonInc.," said analyst Paul Coster in a March 30 investor note. "Webelieve there are risks that warrant this cautious approach, includingpotential 'change of control' clauses in early-vintage solar PPAs andcross-collateralization agreements embedded in project-level debt."

SunEdisonrose 2.82% in strong volume to end at 59 cents.

Inthe midstream sector, KinderMorgan Inc. lifted 1.19% in light trading to finish at $17.86 afterFERC allowed itsEl Paso Natural Gas Co. LLCsubsidiary to increase the gas export capacity flowing into Mexico atborder-crossing facilities in Cochise County, Ariz.

rose 12.50% in active trading to close at $1.53 after an agreement to sell its naturalgas, oil and NGL assets in the SCOOP/STACK area in Oklahoma for $280 million.

Incoal stocks, Foresight Energy LPwas unchanged at $1.10 after extendingbondholder negotiations again. The extension, which runs through April 5, comesa week after the partnership's last deadline passed.

advanced2.71% in light trading to end at $11.36 and Alliance Holdings GP LP climbed 2.50% in below-averagevolume to close at $15.19. With most components in green territory, the SNLCoal Index rose 2.17% to 39.91.

Maynatural gas futures were higher in the debut session as the lead contract.Weather continues to support market strength, while traders eye a return tonatural gas storage pulls when the U.S. Energy Information Administrationreleases its next report. The contract pulled back above the psychologicallyimportant $2/MMBtu mark to post a session and better-than-six-week high at$2.015/MMBtu, but settledback below the mark and higher by 1.5 cents at $1.996/MMBtu.

TheDow Jones Industrial Average rose 0.47% to 17,716.66 and the S&P 500climbed 0.44% to 2,063.95.

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