EQT CEO Rice sees AI opportunity in deal for Mountain Valley Pipeline owner [Seeking Alpha]
Equitrans Midstream Corporation (ETRN)
Last equitrans midstream corporation earnings: 2/27 06:30 am
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Source: Seeking Alpha
Midstream ( ETRN ), finishing in part because it will be taking on billions of dollars in Equitrans' debt. "While operationally we like the combination, the deal adds an equity overhang as midstream holders may have different priorities, and the incremental debt likely directs EQT's free cash flow to leverage reduction over all other options for the near-term," Truist analyst Bertrand Donnes said in explaining the negative investor reaction. But for the long run, EQT ( EQT ) CEO Toby Rice touted the deal as creating "America's first large-scale, fully integrated natural gas company" that will help facilitate lower-cost production and transportation of natural gas, as it adds more than 2K miles of pipeline infrastructure, including the Mountain Valley Pipeline. The takeover will help cut the breakeven point at which EQT ( EQT ) generates free cash flow, reduce the need for hedging and enhance its agility to cash in on increases in gas prices, Rice said on a conference call with a
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ETRN
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