A $35 bln gas reunion tracks a topsy-turvy market [Reuters]
Equitrans Midstream Corporation (ETRN)
Last equitrans midstream corporation earnings: 2/27 06:30 am
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Source: Reuters
NEW YORK, March 11 (Reuters Breakingviews) - Gas producer EQT's (EQT.N) , opens new tab old management weathered an activist investor outcry, squeaked through an expensive deal, and spun off its pipeline division - only to be ejected by the executives they bought out. Now, new management is putting the pieces back together , opens new tab , on Monday striking a merger with that spinoff, Equitrans Midstream (ETRN.N) , opens new tab . It's a sign of how a shifting energy market has upended assumptions behind Wall Street-driven deals. Back in 2018, EQT agreed to separate Equitrans under pressure from shareholders Jana Partners and D.E. Shaw. The two were annoyed that EQT had overpaid , opens new tab in its $6.7 billion deal for Rice Energy. They also thought spinning off the company's pipelines would attract different investors, creating value. After all, midstream businesses that treat and transport gas return most of their cash to investors. Gas producers, historically, plowed their
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News
- Equitrans Midstream Co. (NYSE: ETRN) had its price target raised by analysts at Wells Fargo & Company from $12.00 to $13.00. They now have an "equal weight" rating on the stock.MarketBeat
- Mountain Valley Pipeline hopes for May 31 commissioning as costs rise [Yahoo! Finance]Yahoo! Finance
- Barclays Begins Implementing Job Cuts Across Investment Bank [Yahoo! Finance]Yahoo! Finance
- Barclays Begins Implementing Job Cuts Across Investment Bank [Yahoo! Finance Canada]Yahoo! Finance Canada
- Barclays Begins Implementing Job Cuts Across Investment Bank [BNN Bloomberg (Canada)]BNN Bloomberg
ETRN
Earnings
- 4/30/24 - Beat
ETRN
Sec Filings
- 5/1/24 - Form S-8
- 5/1/24 - Form S-8
- 5/1/24 - Form S-8
- ETRN's page on the SEC website