EQT Deal to ‘Vertically Integrate' Equitrans Faces Steep Challenges [Yahoo! Finance]
Equitrans Midstream Corporation (ETRN)
Last equitrans midstream corporation earnings: 2/27 06:30 am
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Source: Yahoo! Finance
for creating the U.S.' lowest cost natural gas producer—while adding a mountain of debt. The initial tradeoff? EQT will sacrifice some free cash flow to pay off Equitrans' debt of between $7.6 billion and $8 billion. EQT will also sell assets to reduce borrowings. Including equity and debt, the deal is valued at roughly $13 billion. The deal could also face regulatory hurdles. Investors reacted to the March 11 transaction announcement with a selloff, sending EQT shares down by 7.76% at closing. The acquisition brings long-term synergies for EQT but also near term overhang, Gabriele Sorbara, Siebert Williams Shank managing director, said in a March 11 report. “While there is clear industrial logic and long-term benefit from the ETRN [Equitrans] acquisition, it is a mostly dilutive transaction that significantly increases pro forma debt and leverage and carries substantial regulatory uncertainty which we believe will drive continued weakness,” Sorbara said. EQT's rationale f
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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
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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