Sep 14, 2018

Gas line company shares fall after Massachusetts explosions

Data: FactSet; Chart: Axios Visuals

Shares of NiSource fell nearly 10% following multiple gas explosions in several towns in Massachusetts. The company's subsidiary, Columbia Gas of Massachusetts, owns the gas pipeline investigators suspect led to the destruction of homes, injuries and at least one death.

Between the lines: The worry for investors is NiSource could face investigations and lawsuits (which, if history is any guide, will certainly be the case), and the company will suffer hefty fines or penalties.

A spokesman for NiSource did not respond to a request for comment about the stock price, but said the company is investigating the incident. Barring any candid interviews, we won't hear from the CEO until November—when the company holds a quarterly call with investors.

What analysts are saying:

  • Wells Fargo: "We expect shares to come under nearterm pressure and for the explosions to serve as an overhang on shares for some time."
  • J.P.Morgan: " Given the widely varying penalty precedents for gas utility accidents around the US, it is impossible at this time to rule out any magnitude of fine on the company and potential overhang on the stock that may bring."
  • KeyBanc: " We believe [NiSource's] downside is likely buffered by insurance coverage."

Go deeper: Gas explosions ravage dozens of Massachusetts homes

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Tesla short sellers wish Elon Musk had funding secured at $420

Data: Money.net; Chart: Axios Visuals

Tesla has been among the most derided companies in the world, but CEO Elon Musk has been getting revenge against hated short sellers since the electric car company's June swoon.

Why it matters: Many probably wish Musk had taken the company private at $420 a share, as he said he would in an August 2018 tweet in which he claimed to have "funding secured" for the move.

Go deeperArrowJan 14, 2020

The decade that blew up energy predictions

Illustration: Andrew Witherspoon / Axios

America’s energy sources, like booming oil and crumbling coal, have defied projections and historical precedents over the last decade.

Why it matters: It shows how change can happen rapidly and unexpectedly, even in an industry known to move gradually and predictably. With a new decade upon us, let’s look back at the last one’s biggest, most surprising energy changes.

Go deeperArrowDec 23, 2019

U.S. greenhouse gas emissions fell by estimated 2.1% in 2019

Power lines in California in 2019. Photo: Jane Tyska/MediaNews Group/The Mercury News via Getty Images

U.S. greenhouse gas emissions fell by 2.1% in 2019 due to a decrease in national coal consumption, according to estimates from the Rhodium Group released Tuesday.

Why it matters: Power generated from coal plants fell by a record 18%, and overall emissions from the power section declined by almost 10% — despite an increase in emissions from natural gas.

Go deeperArrowJan 7, 2020