Shroud of Fireworks

FS Energy & Power filed an 8-K late on July 3, 2017, announcing that it had decreased the price at which it would issue shares under its distribution reinvestment plan.  The day before a major holiday is a good time to release some bad news.  The decrease was from $7.65 per share to $7.20 per share, or a 5.9% drop.  This is a big decline in what is essentially the BDC's net asset value.  There is optimism in the energy sector, but like with all other assets, energy is subject to the supply and demand.  Oil closed today at $44.33 a barrel, near its low for the year.