EQT Cuts Sales Guidance, Plans to Curtail Production Through May [BNN Bloomberg (Canada)]
Equitrans Midstream Corporation (ETRN)
Last equitrans midstream corporation earnings: 2/27 06:30 am
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Source: BNN Bloomberg
The company also reduced its sales guidance for 2024. The move underscores that this year's low natural gas prices aren't sustainable for the industry. US gas futures have touched pandemic-era lows in recent months. A mild winter curbed demand at the same time that soaring production from shale drillers has flooded the market. EQT now sees its sales volume for the year at 2,100 to 2,200 billion cubic feet equivalent, down from 2,200 to 2,300, the company said in a Tuesday earnings statement. That's based on production curtailments of 1 billion cubic feet per day through May, with the potential to lower output even further, depending on the market. EQT had previously said it would cut 30 to 40 billion cubic feet of net production through March. The guidance also assumes that the Mountain Valley Pipeline will come into service in June, the company said in a published presentation. EQT recently announced it will buy back its former unit Equitrans Midstream Corp., the owner of the
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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
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- 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