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) continues to advocate for reduced methane emissions in the U.S. oil and gas industry. The company opposes the EPA's rollback of methane regulations and supports congressional resolutions H.J. Resolution 34 and S.J. Resolution 14. ETRN aims for a 50% reduction in methane emissions by 2030 and total GHG emissions by 2040, with a Net Zero Carbon Goal by 2050. The firm focuses on responsible energy transportation while collaborating with industry peers to enhance methane management and environmental sustainability.
Equitrans Midstream Corporation (ETRN) is set to release its Q1 2021 earnings on May 4, 2021, followed by a conference call at 10:30 am ET. This event includes a Q&A for security analysts. Participants must pre-register for access, with unique IDs provided via email. An investor presentation will be available on the company's website on the same day. ETRN operates primarily in the Appalachian Basin and focuses on natural gas transmission and storage.
Equitrans Midstream Corporation (ETRN) announced the availability of its 2020 unitholder tax packages online, with mailing set to commence on March 11, 2021. Former EQM investors can access their tax packages and Schedule K-1 through tax package support site or the Equitrans Investors page. For further inquiries, investors can contact Tax Package Support at 1-855-886-9763. ETRN operates in the Appalachian Basin, focusing on natural gas transmission and storage, and aims to support the growing demand for clean energy.
Equitrans Midstream Corporation (ETRN) reported a net income of $638 million and adjusted EBITDA of $1,215 million for 2020. The company generated 66% of its total operating revenue from firm reservation fees and increased total gathered volumes by approximately 5% year-over-year. Despite a challenging environment, ETRN simplified its corporate structure, achieving cost control, and announced plans for a Climate Policy aimed at reducing greenhouse gas emissions. The Q4 2020 net income was $117.8 million, impacted by unrealized losses on derivatives and non-recurring costs.
Equitrans Midstream Corporation (NYSE: ETRN) declared quarterly cash dividends of $0.15 per common share and $0.4873 per share of Series A Perpetual Convertible Preferred Stock for Q4 2020. These dividends will be paid on February 12, 2021, to shareholders of record as of February 3, 2021.
ETRN operates extensively in the Appalachian Basin, focusing on natural gas transmission, gathering, and storage. With a legacy of 135 years in the energy sector, ETRN aims to be a leading midstream services provider in North America.
Equitrans Midstream Corporation (ETRN) is set to announce its fourth quarter and full-year 2020 earnings on February 23, 2021, followed by a conference call at 10:30 am ET. Participants must pre-register to access the call, receiving confirmation with access details. ETRN focuses on gas transmission, storage systems, and gathering systems in the Appalachian Basin, contributing to clean energy solutions while maintaining a commitment to the communities it serves.
Equitrans Midstream Corporation (NYSE: ETRN) has announced the results of its subsidiary EQM Midstream Partners, LP's tender offers to purchase up to $500 million in notes. As of January 15, 2021, approximately $754.69 million in 4.750% notes due 2023 were validly tendered. The partnership plans to accept about $500 million of the 2023 notes, applying a proration rate of around 66%. The settlement for these notes is expected on January 20, 2021.
Equitrans Midstream Corporation (NYSE: ETRN) announced an upsized offering of $800 million in 4.50% senior notes due 2029 and $1.1 billion in 4.75% senior notes due 2031, marking a $150 million increase from the previous announcement. The proceeds will be used to repay term loans, purchase outstanding debt, and fund capital expenditures. Additionally, EQM initiated tender offers to buy back up to $500 million in 4.75% and 4.00% senior notes due 2023 and 2024. The offering is set to close on January 8, 2021, subject to closing conditions.
Equitrans Midstream Corporation (NYSE: ETRN) announced that its subsidiary, EQM Midstream Partners, LP, has begun tender offers to purchase up to $350 million in aggregate principal amount of its outstanding notes. The Offers consist of two series of notes and are contingent upon the Partnership receiving net proceeds from debt financing. The Offers will expire on February 1, 2021, with early tender considerations available until January 15, 2021. Barclays Capital is the Dealer Manager for the Offers.
Equitrans Midstream Corporation (NYSE: ETRN) announced that its subsidiary, EQM Midstream Partners, LP, plans to offer $1.75 billion in senior unsecured notes. Proceeds will be used to repay term loan borrowings, buy back outstanding debt via tender offers, and for general partnership purposes. If not used for these offers, remaining funds will reduce other borrowings or support capital expenditures. The offering is restricted to qualified institutional buyers and non-U.S. persons, and the notes have not been registered under the Securities Act.
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