Equitrans Midstream Corporation owns, operates, acquires, and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. It operates through three segments: Gathering System, Transmission and Storage System, and Water Service System. The Gathering System segment include 1,130 miles of high-pressure gathering lines with compression of approximately 485,000 horsepower and multiple interconnect points; and approximately 910 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines. The Transmission and Storage System segment comprises 950 miles of FERC regulated interstate pipeline that connects to seven interstate pipelines and local distribution companies. The Water Service System segment include two independent systems comprised approximately 200 miles of pipeline that deliver fresh water from the Monongahela River, the Ohio River, local reservoirs, and various regional waterways. Equitrans Midstream Corporation was incorporated in 2018 and is headquartered in Canonsburg, Pennsylvania.
IPO Year: 2018
Exchange: NYSE
Website: equitransmidstream.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/14/2023 | $9.00 → $10.00 | Equal Weight → Underweight | Wells Fargo |
| 12/4/2023 | Outperform → Peer Perform | Wolfe Research | |
| 10/6/2023 | $11.50 | Buy | Goldman |
| 10/3/2023 | Underperform | Pickering Energy Partners | |
| 6/5/2023 | $7.00 → $14.00 | Underweight → Overweight | Morgan Stanley |
| 6/1/2023 | $11.00 | Peer Perform → Outperform | Wolfe Research |
| 5/30/2023 | $7.00 → $10.00 | Sector Perform → Outperform | RBC Capital Mkts |
| 4/21/2023 | Mkt Perform | Raymond James | |
| 2/1/2023 | $9.50 → $6.00 | Buy → Sell | Goldman |
| 12/16/2022 | $12.00 → $8.00 | Overweight → Equal Weight | Wells Fargo |
4 - Midstream Co LLC (0001747009) (Issuer)
4 - Midstream Co LLC (0001747009) (Issuer)
4 - Midstream Co LLC (0001747009) (Issuer)
4 - Midstream Co LLC (0001747009) (Issuer)
4 - Midstream Co LLC (0001747009) (Issuer)
4 - Midstream Co LLC (0001747009) (Issuer)
4 - Midstream Co LLC (0001747009) (Issuer)
4 - Midstream Co LLC (0001747009) (Issuer)
4 - Midstream Co LLC (0001747009) (Issuer)
4 - Midstream Co LLC (0001747009) (Issuer)
Equitrans Midstream Corporation (NYSE:ETRN) (Equitrans) today announced that it has issued a notice of full redemption (the Redemption) for all issued and outstanding shares of its Series A Perpetual Convertible Preferred Shares, no par value (CUSIP: 294600-200) (the Preferred Stock). As previously announced, on March 10, 2024, Equitrans, EQT Corporation (EQT) and the other parties thereto entered into an Agreement and Plan of Merger (the Merger Agreement). On June 25, 2024, EQT delivered to Equitrans a written election exercising its right under Section 5.19 of the Merger Agreement to cause Equitrans to effect the Redemption. Notwithstanding the foregoing, Equitrans has no obligation to pu
Equitrans Midstream Corporation (NYSE:ETRN) ("Equitrans") and EQT Corporation (NYSE:EQT) ("EQT") today announced that, in connection with Equitrans' proposed transaction with EQT (the "Merger"), the deadline for record holders of Equitrans Series A Perpetual Convertible Preferred Shares ("Equitrans Preferred Stock") to elect the form of consideration they wish to receive in connection with the change of control contemplated by the Merger in accordance with the Second Amended and Restated Articles of Incorporation of Equitrans (the "Equitrans Articles") is 11:59 p.m. Eastern Time on July 9, 2024 (the "Election Deadline"). This press release features multimedia. View the full release here: h
Equitrans Midstream Corporation (NYSE:ETRN), today, announced financial and operational results for the first quarter 2024. Included in the "Non-GAAP Disclosures" section of this news release are important disclosures regarding the use of non-GAAP supplemental financial measures, including information regarding their most comparable GAAP financial measure. Q1 2024 Highlights: Announced proposed acquisition by EQT Corporation in an all-stock transaction Reported $111.9 million of net income and $271.8 million of Adjusted EBITDA Generated $177.5 million of net cash from operating activities Recorded 67% of total operating revenue from firm reservation fees "With all of the wa
Equitrans Midstream Corporation (NYSE:ETRN), today, declared quarterly cash dividends of $0.15 per common share and $0.4873 per share of Series A Perpetual Convertible Preferred Stock for the first quarter 2024. The dividends will be paid on May 15, 2024, to all applicable ETRN shareholders of record at the close of business on May 7, 2024. About Equitrans Midstream Corporation: Equitrans Midstream Corporation has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located infrastructure assets in the Marcellus and Utica regions, Equitrans has
Creates America's only large-scale, vertically integrated natural gas company prepared to compete on the global stageAll stock transaction with combined company enterprise value over $35 billionProvides >2,000 miles of critical pipeline infrastructure with extensive overlap with EQT's core upstream operations and existing midstream assets Reduces EQT's long-term corporate free cash flow breakeven(1) to less than $2 per MMBtu, ensuring robust free cash flow generation through all parts of the commodity cycleCost structure integration materially improves economics of EQT's remaining ~4,000 drilling locations, unlocking industry leading terminal valueAnnual synergies of $250 million with identi
Equitrans Midstream Corporation (NYSE:ETRN), today, announced financial and operational results for the full-year and fourth quarter 2023. Included in the "Non-GAAP Disclosures" section of this news release are important disclosures regarding the use of non-GAAP supplemental financial measures, including information regarding their most comparable GAAP financial measure. 2023 Highlights: Reported $454.8 million of net income and $1.1 billion of Adjusted EBITDA Generated $1.0 billion of net cash from operating activities Recorded ~70% of total operating revenue from firm reservation fees Achieved ~8% transmission pipeline throughput growth versus 2022 Achieved ~29% water ope
Equitrans Midstream Corporation (NYSE:ETRN) will release its fourth quarter and full-year 2023 earnings information on Tuesday, February 20, 2024, and will also host a conference call with analysts and investors at 10:30 am (ET). A brief Q&A session for ETRN security analysts will immediately follow the results discussion. Call Access: An audio live stream of the call will be available on the internet, and participants are encouraged to pre-register online, in advance of the call, at: ETRN Q4/Full-Year 2023 Webcast. A link to the audio live stream will be available on the Investors page of the ETRN's website the day of the call. Security Analysts :: Dial-In Participation To participate
Equitrans Midstream Corporation (NYSE:ETRN), today, declared quarterly cash dividends of $0.15 per common share and $0.4873 per share of Series A Perpetual Convertible Preferred Stock for the fourth quarter 2023. The dividends will be paid on February 14, 2024, to all applicable ETRN shareholders of record at the close of business on February 6, 2024. About Equitrans Midstream Corporation: Equitrans Midstream Corporation has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located infrastructure assets in the Marcellus and Utica regions, Equ
Equitrans Midstream Corporation (NYSE:ETRN), today, announced financial and operational results for the third quarter 2023. Included in the "Non-GAAP Disclosures" section of this news release are important disclosures regarding the use of non-GAAP supplemental financial measures, including information regarding their most comparable GAAP financial measure. Q3 2023 Highlights: Reported $129.7 million of net income and $249.9 million of Adjusted EBITDA Generated $201.6 million of net cash from operating activities Recorded 71% of total operating revenue from firm reservation fees Achieved 12% transmission pipeline throughput growth versus same quarter last year "Once in-servi
Equitrans Midstream Corporation (NYSE:ETRN), today, declared quarterly cash dividends of $0.15 per common share and $0.4873 per share of Series A Perpetual Convertible Preferred Stock for the third quarter 2023. The dividends will be paid on November 14, 2023, to all applicable ETRN shareholders of record at the close of business on November 3, 2023. About Equitrans Midstream Corporation: Equitrans Midstream Corporation has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located infrastructure assets in the Marcellus and Utica regions, Equi
Wells Fargo downgraded Equitrans Midstream from Equal Weight to Underweight and set a new price target of $10.00 from $9.00 previously
Wolfe Research downgraded Equitrans Midstream from Outperform to Peer Perform
Goldman resumed coverage of Equitrans Midstream with a rating of Buy and set a new price target of $11.50
Pickering Energy Partners initiated coverage of Equitrans Midstream with a rating of Underperform
Morgan Stanley upgraded Equitrans Midstream from Underweight to Overweight and set a new price target of $14.00 from $7.00 previously
Wolfe Research upgraded Equitrans Midstream from Peer Perform to Outperform and set a new price target of $11.00
RBC Capital Mkts upgraded Equitrans Midstream from Sector Perform to Outperform and set a new price target of $10.00 from $7.00 previously
Raymond James initiated coverage of Equitrans Midstream with a rating of Mkt Perform
Goldman downgraded Equitrans Midstream from Buy to Sell and set a new price target of $6.00 from $9.50 previously
Wells Fargo downgraded Equitrans Midstream from Overweight to Equal Weight and set a new price target of $8.00 from $12.00 previously
Equitrans Midstream (NYSE:ETRN) reported quarterly earnings of $0.11 per share which missed the analyst consensus estimate of $0.14 by 21.43 percent. This is a 22.22 percent increase over earnings of $0.09 per share from the same period last year. The company reported quarterly sales of $361.60 million which beat the analyst consensus estimate of $345.76 million by 4.58 percent. This is a 13.54 percent increase over sales of $318.47 million the same period last year.
S&P SmallCap 600 constituent Abercrombie & Fitch will replace Equitrans Midstream in the S&P MidCap 400, effective prior to the opening of trading on Monday, July 22.
Morgan Stanley analyst Robert Kad maintains Equitrans Midstream (NYSE:ETRN) with a Overweight and raises the price target from $13 to $17.
Wells Fargo analyst Michael Blum maintains Equitrans Midstream (NYSE:ETRN) with a Equal-Weight and raises the price target from $12 to $13.
Equitrans Midstream (NYSE:ETRN) reported quarterly earnings of $0.23 per share which missed the analyst consensus estimate of $0.24 by 4.17 percent. This is a 4.55 percent increase over earnings of $0.22 per share from the same period last year. The company reported quarterly sales of $364.27 million which beat the analyst consensus estimate of $363.76 million by 0.14 percent. This is a 3.21 percent decrease over sales of $376.34 million the same period last year.
Scotiabank analyst Cameron Bean changed the rating for a few North American Natural Gas companies following their revised forecasts about commodity price deck and industry outlook. The analyst continues to expect congestion and low prices to prevail into the summer but sees green shoots on the horizon, with weaker U.S. production volumes in H2 FY24 and the commissioning of new North American LNG export facilities in late 2024 and 2025. Bean continues to project a price of $4.00/mmBtu but expects significant price volatility as North America adds considerable new LNG export capacity over the next three to five years. Also, the analyst expects a rougher ride for AECO prices, with pot
Natural gas has been in focus with energy prices poised to climb on summer demand. The 2024 estimate for natural gas production has been lowered by around 1.3 billion cubic feet per day (Bcf/d) to 102.7 Bcf/d, with production volumes expected to decline to exit the year at 101.8 Bcf/d, according to JPMorgan. The Natural Gas Rating Changes: Analyst Arun Jayaram upgraded the rating for Antero Resources Corp (NYSE:AR) from Neutral to Overweight, while raising the price target from $27 to $30. The rating for EQT Corp (NYSE:EQT) was cut from Overweight to Neutral while the price target was lowered from $39 to $37. The Antero Resources Thesis: The company was positioned as the “go-to name” in a
Mizuho Securities analyst Nitin Kumar downgraded EQT Corporation (NYSE:EQT) to Neutral from Buy and cut the price target to $39 from $46. The rating downgrade reflects the company’s FY23 reserves, 2024 guidance, and the proposed merger with Equitrans Midstream Corporation (NYSE:ETRN). Under the terms of the agreement, EQT will acquire Equitrans in an all-stock transaction, which will create a combined company with an enterprise value of over $35 billion. Also, last month, the company reported fourth-quarter revenue of $1.549 billion, which fell short of expectations, and adjusted EPS at $0.48, which came below consensus estimates. The company had a total proved reserves of 27.6
OVERLAND PARK, KS / ACCESSWIRE / July 22, 2024 / Tortoise today announced that Equitrans Midstream Corp (NYSE:ETRN) will be removed from the Tortoise North American Pipeline IndexSM (TNAP) and the Tortoise Decarbonization Infrastructure IndexSM (DCRBN) as a result of the approved acquisition by EQT Corp (NYSE:EQT). As a result of the acquisition, ETRN will be removed from both indices at market open on Monday, July 22, 2024.ETRN will be removed from the Tortoise North American Pipeline IndexSM (TNAP) with a special rebalance.Special rebalancing is not required for the Tortoise Decarbonization Infrastructure IndexSM (DCRBN). ETRN will be removed, and its weight distributed pro rata to remaini
NEW YORK, July 16, 2024 /PRNewswire/ -- S&P SmallCap 600 constituent Abercrombie & Fitch Co. (NYSE:ANF) will replace Equitrans Midstream Corp. (NYSE:ETRN) in the S&P MidCap 400, and Gates Industrial Corporation plc (NYSE:GTES) will replace Abercrombie & Fitch in the S&P SmallCap 600 effective prior to the opening of trading on Monday, July 22. S&P 500 constituent EQT Corp. (NYSE:EQT) is acquiring Equitrans Midstream in a deal expected to close soon, pending final closing conditions. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector July 22, 2024 S&P MidCap 400
Equitrans Midstream Corporation (NYSE:ETRN) (Equitrans) today announced that it has issued a notice of full redemption (the Redemption) for all issued and outstanding shares of its Series A Perpetual Convertible Preferred Shares, no par value (CUSIP: 294600-200) (the Preferred Stock). As previously announced, on March 10, 2024, Equitrans, EQT Corporation (EQT) and the other parties thereto entered into an Agreement and Plan of Merger (the Merger Agreement). On June 25, 2024, EQT delivered to Equitrans a written election exercising its right under Section 5.19 of the Merger Agreement to cause Equitrans to effect the Redemption. Notwithstanding the foregoing, Equitrans has no obligation to pu
Equitrans Midstream Corporation (NYSE:ETRN) ("Equitrans") and EQT Corporation (NYSE:EQT) ("EQT") today announced that, in connection with Equitrans' proposed transaction with EQT (the "Merger"), the deadline for record holders of Equitrans Series A Perpetual Convertible Preferred Shares ("Equitrans Preferred Stock") to elect the form of consideration they wish to receive in connection with the change of control contemplated by the Merger in accordance with the Second Amended and Restated Articles of Incorporation of Equitrans (the "Equitrans Articles") is 11:59 p.m. Eastern Time on July 9, 2024 (the "Election Deadline"). This press release features multimedia. View the full release here: h
Natural Gas Transmission Line Enters Service to Meet Public Demand and Promote the National Interest The Mountain Valley Pipeline (MVP) entered service today after satisfying all applicable legal and regulatory requirements, including all applicable in-service conditions of the U.S. Pipeline and Hazardous Materials Safety Administration's Consent Agreement for the project, and receiving all remaining approvals from the Federal Energy Regulatory Commission. MVP is now available for interruptible or short-term firm transportation service until long-term firm capacity obligations commence on July 1, 2024. "This is an important and long-awaited day for our Nation and the millions of America
Equitrans Midstream Corporation (NYSE:ETRN), today, announced financial and operational results for the first quarter 2024. Included in the "Non-GAAP Disclosures" section of this news release are important disclosures regarding the use of non-GAAP supplemental financial measures, including information regarding their most comparable GAAP financial measure. Q1 2024 Highlights: Announced proposed acquisition by EQT Corporation in an all-stock transaction Reported $111.9 million of net income and $271.8 million of Adjusted EBITDA Generated $177.5 million of net cash from operating activities Recorded 67% of total operating revenue from firm reservation fees "With all of the wa
Equitrans Midstream Corporation (NYSE:ETRN), today, declared quarterly cash dividends of $0.15 per common share and $0.4873 per share of Series A Perpetual Convertible Preferred Stock for the first quarter 2024. The dividends will be paid on May 15, 2024, to all applicable ETRN shareholders of record at the close of business on May 7, 2024. About Equitrans Midstream Corporation: Equitrans Midstream Corporation has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located infrastructure assets in the Marcellus and Utica regions, Equitrans has
Suspends Earnings Release Conference Calls Equitrans Midstream Corporation (NYSE:ETRN) will release its first quarter 2024 earnings information on April 30, 2024. On March 11, 2024, ETRN announced that it has entered into a definitive agreement to be acquired by EQT Corporation (NYSE:EQT), subject to required regulatory approvals and clearances, approval of shareholders of each of EQT and ETRN, and other closing conditions; therefore, ETRN will no longer host its quarterly results conference calls with analysts and investors. About Equitrans Midstream Corporation Equitrans Midstream Corporation has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Mi
Creates America's only large-scale, vertically integrated natural gas company prepared to compete on the global stageAll stock transaction with combined company enterprise value over $35 billionProvides >2,000 miles of critical pipeline infrastructure with extensive overlap with EQT's core upstream operations and existing midstream assets Reduces EQT's long-term corporate free cash flow breakeven(1) to less than $2 per MMBtu, ensuring robust free cash flow generation through all parts of the commodity cycleCost structure integration materially improves economics of EQT's remaining ~4,000 drilling locations, unlocking industry leading terminal valueAnnual synergies of $250 million with identi
Equitrans Midstream Corporation (NYSE:ETRN) (ETRN) today announced that its wholly owned subsidiary, EQM Midstream Partners, LP (EQM), has priced an offering of $600 million in aggregate principal amount of its 6.375% senior notes due 2029 (the Notes). The Notes will be issued at a price of par. EQM intends to use the net proceeds from the offering of the Notes to repay certain outstanding indebtedness, including borrowings under EQM's Third Amended and Restated Credit Agreement, dated as of October 31, 2018, as amended, and for general partnership purposes. Subject to the satisfaction of customary closing conditions, the offering is expected to close on February 26, 2024. The offering of
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S-8 POS - Equitrans Midstream Corp (0001747009) (Filer)
S-8 POS - Equitrans Midstream Corp (0001747009) (Filer)
NEW YORK, July 16, 2024 /PRNewswire/ -- S&P SmallCap 600 constituent Abercrombie & Fitch Co. (NYSE:ANF) will replace Equitrans Midstream Corp. (NYSE:ETRN) in the S&P MidCap 400, and Gates Industrial Corporation plc (NYSE:GTES) will replace Abercrombie & Fitch in the S&P SmallCap 600 effective prior to the opening of trading on Monday, July 22. S&P 500 constituent EQT Corp. (NYSE:EQT) is acquiring Equitrans Midstream in a deal expected to close soon, pending final closing conditions. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector July 22, 2024 S&P MidCap 400
Diana M. Charletta Appointed Chief Executive Officer Thomas F. Karam Appointed Executive Chairman Equitrans Midstream Corporation (NYSE:ETRN), today, announced that Thomas F. Karam will step down from his role as chief executive officer of Equitrans Midstream (Equitrans or Company) to become the Company's executive chairman; and Diana M. Charletta, currently president and chief operating officer of Equitrans, will succeed Mr. Karam as Equitrans' newly appointed chief executive officer. The executive appointments are effective January 1, 2024, and both Mr. Karam and Ms. Charletta will continue to serve as members of the Equitrans Board of Directors following the leadership transition.
Cheniere Energy, Inc. ("Cheniere") (NYSE:LNG) announced today that its Board of Directors ("Board") has appointed Patricia K. Collawn and Lorraine Mitchelmore to serve as members of the Board, effective July 1, 2021. Ms. Collawn and Ms. Mitchelmore are considered independent directors. Ms. Collawn has been appointed to the Audit and Compensation Committees and Ms. Mitchelmore has been appointed to the Audit and Governance and Nominating Committees. Ms. Collawn is the Chairman, President and Chief Executive Officer of PNM Resources, Inc. ("PNM Resources") (NYSE:PNM), an energy holding company based in New Mexico. Ms. Collawn joined PNM Resources in 2007 from Public Service Company of Colora