Tortoise Announces Constituent Changes Due to Corporate Action
Tortoise has announced significant changes to two of its indices due to a corporate action. Equitrans Midstream Corp (NYSE:ETRN) will be removed from both the Tortoise North American Pipeline Index (TNAP) and the Tortoise Decarbonization Infrastructure Index (DCRBN) following its approved acquisition by EQT Corp (NYSE:EQT). The removal will take effect at market open on Monday, July 22, 2024.
For the TNAP, a special rebalance will be conducted to accommodate ETRN's removal. In contrast, the DCRBN will not require a special rebalancing; instead, ETRN's weight will be distributed proportionally among the remaining index constituents.
Tortoise ha annunciato cambiamenti significativi a due dei suoi indici a causa di un'azione aziendale. Equitrans Midstream Corp (NYSE:ETRN) sarà rimossa sia dall'Indice dei Pipeline Nordamericani Tortoise (TNAP) che dall'Indice delle Infrastrutture per la Decarbonizzazione Tortoise (DCRBN) in seguito all'acquisizione approvata da parte di EQT Corp (NYSE:EQT). La rimozione avrà effetto all'apertura del mercato di lunedì 22 luglio 2024.
Per il TNAP, verrà effettuato un riequilibrio speciale per accogliere la rimozione di ETRN. Al contrario, il DCRBN non richiederà un riequilibrio speciale; invece, il peso di ETRN sarà distribuito proporzionalmente tra i restanti componenti dell'indice.
Tortoise ha anunciado cambios significativos en dos de sus índices debido a una acción corporativa. Equitrans Midstream Corp (NYSE:ETRN) será eliminada tanto del Índice de Oleoductos de América del Norte de Tortoise (TNAP) como del Índice de Infraestructura para la Descarbonización de Tortoise (DCRBN) tras su adquisición aprobada por EQT Corp (NYSE:EQT). La eliminación entrará en vigencia al abrir el mercado el lunes 22 de julio de 2024.
Para el TNAP, se llevará a cabo un reequilibrio especial para acomodar la eliminación de ETRN. En contraste, el DCRBN no requerirá un reequilibrio especial; en su lugar, el peso de ETRN se distribuirá proporcionalmente entre los restantes constituyentes del índice.
토르토이스는 기업 활동으로 인해 두 개의 지수에 중요한 변경 사항을 발표했습니다. Equitrans Midstream Corp (NYSE:ETRN)이 토르토이스 북미 파이프라인 지수 (TNAP)와 토르토이스 탈탄소 인프라 지수 (DCRBN)에서 제거될 예정입니다. 이 결정은 EQT Corp (NYSE:EQT)에 의해 승인된 인수에 따른 것입니다. 제거는 2024년 7월 22일 월요일 시장 개장 시 효과를 발휘합니다.
TNAP의 경우 ETRN의 제거를 수용하기 위해 특별한 재조정이 실시될 것입니다. 반면에 DCRBN은 특별한 재조정을 필요로 하지 않으며, 대신 ETRN의 비중은 남아 있는 지수 구성원 사이에 비례적으로 분배될 것입니다.
Tortoise a annoncé des changements significatifs à deux de ses indices en raison d'une action d'entreprise. Equitrans Midstream Corp (NYSE:ETRN) sera retirée à la fois de l'Indice des Pipelines Nord-Américains Tortoise (TNAP) et de l'Indice d'Infrastructure pour la Décarbonisation Tortoise (DCRBN) suite à son acquisition approuvée par EQT Corp (NYSE:EQT). Le retrait prendra effet à l'ouverture du marché le lundi 22 juillet 2024.
Pour le TNAP, un rééquilibrage spécial sera effectué pour tenir compte du retrait de ETRN. En revanche, le DCRBN ne nécessitera pas de rééquilibrage spécial ; au lieu de cela, le poids d'ETRN sera distribué proportionnellement entre les constituants restants de l'indice.
Tortoise hat bedeutende Änderungen an zwei seiner Indizes aufgrund einer Unternehmensaktion angekündigt. Equitrans Midstream Corp (NYSE:ETRN) wird sowohl vom Tortoise North American Pipeline Index (TNAP) als auch vom Tortoise Decarbonization Infrastructure Index (DCRBN) entfernt, nachdem die Übernahme durch EQT Corp (NYSE:EQT) genehmigt wurde. Die Entfernung wird mit Eröffnung des Marktes am Montag, den 22. Juli 2024 wirksam.
Für den TNAP wird ein spezielles Rebalancing durchgeführt, um die Entfernung von ETRN zu berücksichtigen. Im Gegensatz dazu wird der DCRBN kein spezielles Rebalancing benötigen; stattdessen wird das Gewicht von ETRN proportional auf die verbleibenden Indexbestandteile verteilt.
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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 remaining Index constituents.
About TIS Advisors
TIS Advisors provides research-driven indices that can be used as a realistic basis for exchange-traded products and thought leadership in the universe of essential assets. Its indices are intended to fill a void in the market and provide benchmarks and investable asset class universes for use by investment professionals, research analysts and industry executives to analyze relative performance as well as to provide a basis for passively managed exchange-traded products. To learn more, please visit www.tortoiseadvisors.com.
The Tortoise North American Pipeline IndexSM is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification ("SIC") system code that indicates the company operates in the energy pipeline industry or 2) has at least
The Tortoise MLP Index® and the Tortoise North American Pipeline IndexSM are the exclusive property of TIS Advisors, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Tortoise MLP Index® and the Tortoise North American Pipeline IndexSM (the "Indices"). The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third-party licensors (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by TIS Advisors and its affiliates. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").
The Tortoise Decarbonization Infrastructure IndexSM is a float-adjusted, capitalization weighted index of decarbonizing infrastructure companies that are organized and have their principal place of business in the United States or Canada. We define a decarbonization infrastructure company as a company that primarily owns natural gas and/ or natural gas liquids infrastructure including pipelines and local distribution companies, electric generation, transmission and distribution, battery storage, electric charging infrastructure, residential rooftop solar facilities and/ or renewable fuels.
The Tortoise Decarbonization Infrastructure IndexSM is the exclusive property of TIS Advisors and is calculated by Solactive AG ("Solactive"). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG ("Solactive") in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.
This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. Tortoise makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Contact Information
For more information contact Eva Lipner at (913) 981-1020 or info@tortoiseadvisors.com.
SOURCE: Tortoise
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FAQ
Why is Equitrans Midstream Corp (ETRN) being removed from Tortoise indices?
Which Tortoise indices will be affected by the removal of ETRN?
How will the Tortoise North American Pipeline Index (TNAP) handle the removal of ETRN?
What will happen to ETRN's weight in the Tortoise Decarbonization Infrastructure Index (DCRBN)?
