Welcome to our dedicated page for Equitrans Midstream Corporation news (Ticker: ETRN), a resource for investors and traders seeking the latest updates and insights on Equitrans Midstream Corporation stock.
Equitrans Midstream Corporation (NYSE: ETRN) is a leading midstream services provider focused on delivering critical infrastructure solutions across the energy industry in North America. Established as a standalone company in November 2018, Equitrans has rapidly built a reputation for safety, reliability, and innovation. The company's core operations revolve around natural gas transmission, gathering, and water services, primarily within the prolific Appalachian Basin, which includes Pennsylvania, West Virginia, and Ohio.
Equitrans' strategic vision is to become the premier midstream services company in North America. This vision is supported by its extensive and strategically located asset base, including EQM Midstream assets acquired in mid-2020, which has consolidated its midstream operations. Equitrans' principal assets include gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production in the Marcellus and Utica regions.
The company operates under five core values: safety, integrity, collaboration, transparency, and excellence. These values guide their day-to-day operations and long-term strategic decisions, ensuring they deliver sustained value to customers and shareholders while maintaining high standards of environmental, social, and governance (ESG) practices.
In recent developments, Equitrans Midstream Corporation and EQT Corporation (NYSE: EQT) announced a definitive merger agreement on March 11, 2024. This merger aims to create a vertically integrated natural gas business with an initial enterprise value exceeding $35 billion. The combined entity will leverage synergies to deliver durable free cash flow across various price environments and achieve significant cost efficiencies.
The merger is expected to close by the fourth quarter of 2024, subject to regulatory approvals, shareholder votes, and other customary closing conditions. Post-merger, EQT shareholders are projected to own approximately 74% of the combined company, with Equitrans shareholders owning the remaining 26%. The headquarters will remain in Pittsburgh, Pennsylvania, with the executive management team of EQT leading the combined entity.
Equitrans Midstream Corporation remains dedicated to advancing its operational efficiency, technological capabilities, and sustainability efforts. The company's commitment to reducing its environmental footprint while delivering high-quality energy infrastructure solutions makes it a pivotal player in the natural gas industry.
Equitrans Midstream Corporation (NYSE: ETRN) announced the expiration of its subsidiary EQM Midstream Partners, LP's cash tender offer for its 4.750% Notes due 2023. The offer, which ended on June 6, 2022, saw $494.8 million in notes tendered. Valid participants will receive $1,020 per $1,000 note along with accrued interest. The purchase will be funded through proceeds from a recent notes offering and available cash. Settlement is expected on June 7, 2022, for standard tenders and June 9, 2022, for guaranteed delivery tenders.
Equitrans Midstream Corporation (NYSE: ETRN) has announced its subsidiary, EQM Midstream Partners, LP, priced a $500 million offering of 7.50% senior notes due 2027 and 2030. This represents a $200 million increase from the previous amount, aimed at repaying some outstanding debts. The offering is expected to close on June 7, 2022. Additionally, EQM has initiated tender offers to purchase its senior notes due 2023, 2024, and 2025, up to $200 million. The notes will only be sold to qualified institutional buyers and non-U.S. persons.
Equitrans Midstream Corporation (NYSE: ETRN) announced that its subsidiary, EQM Midstream Partners, LP, initiated cash tender offers for its outstanding notes. This includes the 4.750% Notes due 2023 and up to $200 million of its 6.000% and 4.000% Notes due 2025 and 2024, respectively. The Any and All Tender Offer expires on June 6, 2022, while the Maximum Tender Offers expire on June 28, 2022. The offers are subject to conditions including financing requirements, and holders must validly tender notes by specified deadlines to receive total consideration.
Equitrans Midstream Corporation (NYSE: ETRN) announced its subsidiary EQM Midstream Partners, LP plans to offer $800 million in senior notes due 2027 and 2030. The net proceeds will primarily be used to purchase outstanding notes, including 4.750% senior notes due 2023 and 6.000% senior notes due 2025. If the tender offer does not go through, excess proceeds will be applied toward general partnership expenses and debt repayment. The offering has not been registered under the Securities Act and is aimed at qualified buyers.
Equitrans Midstream Corporation (NYSE: ETRN) reported Q1 2022 financial results, generating $105 million in net income and $277 million in adjusted EBITDA. The firm secured 71% of total revenue from firm reservation fees. Despite challenges, the company emphasized the importance of natural gas in the energy portfolio. Following FERC's approval of the MVP Certificate Amendment, ETRN plans to pursue new permits, targeting a 2023 completion for the Mountain Valley Pipeline (MVP).
Q1 2022 highlights include a dividend of $0.15 per common share and forecasted net income for Q2 2022 of $65-$75 million.
Equitrans Midstream Corporation (NYSE: ETRN) announced quarterly cash dividends of
Equitrans Midstream Corporation (ETRN) is set to announce its Q1 2022 earnings on May 3, 2022, at 10:30 am ET. Following the earnings release, a conference call will be held for analysts and investors, featuring a Q&A session. Participants can access the call via a live audio stream, with pre-registration encouraged. ETRN's corporate focus includes natural gas transmission, gathering systems, and water services within the Appalachian Basin, aiming to support the rising demand for clean energy in North America.
Equitrans Midstream Corporation (NYSE: ETRN) reported its financial results for 2021, highlighting a net cash flow of $1.2 billion and $488 million in free cash flow. The company faced significant net losses due to a $1.9 billion impairment linked to the Mountain Valley Pipeline project, which is delayed due to legal challenges. A new water services agreement with EQT is expected to generate $40 million in annual revenue for five years. Free cash flow guidance for 2022 is set between $340 million and $420 million.
Equitrans Midstream (NYSE: ETRN) announced updates on the Mountain Valley Pipeline (MVP) project following a ruling from the U.S. Fourth Circuit Court of Appeals on February 2, 2022. The court vacated MVP’s Biological Opinion, with a decision expected to be unsealed soon. Equitrans is analyzing the ruling and remains committed to completing the MVP project, confident that the Biological Opinion concerns will be addressed. The company continues to position itself as a leading natural gas gatherer in the Appalachian Basin.
Equitrans Midstream Corporation (ETRN) will announce its year-end 2021 earnings on February 22, 2022, at 10:30 am (ET). The conference call will include a brief Q&A session for analysts post-discussion. Participants can register online for an audio live stream and a replay will be available for 14 days post-call. ETRN operates prominently in the Appalachian Basin and focuses on natural gas transmission, storage, and gathering, with a vision to be a leading midstream services provider in North America.
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