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EQT

EQT Corporation

$70.37

0.02 (0.03%)

, EQM

EQT Midstream Partners

$77.19

0.23 (0.30%)

16:19
10/13/16
10/13
16:19
10/13/16
16:19

EQT sells Allegheny Valley, Marcellus assets to EQT Midstream Partners for $275M

EQT (EQT) announced it has sold the Allegheny Valley Connector transmission and storage system, along with several Marcellus gathering systems, to EQT Midstream Partners (EQM) for $275M in cash. The acquisition was effective October 1. "The sale did not include a small gathering system that is currently being evaluated for potential sale to a third-party," the company noted. EQM expects to invest approximately $50M in AVC related growth projects during the remainder of 2016 and into 2017. EQM expects the AVC to generate EBITDA of $31M in 2017, increasing to $35M in 2018. The gathering assets consist primarily of the Applegate, McIntosh, and Terra systems in Pennsylvania; and the Taurus system in West Virginia. EQT has committed to a total of 235 MMCF per day of firm capacity under a 10-year contract on the systems. EQM expects to invest approximately $105M over the next several years to complete planned expansion projects, including the installation of approximately 20 miles of gathering pipeline and four compressor units with 20,000 hp of compression. Upon completion of the expansion projects, EQT's total firm capacity will increase to 365 MMCF per day. EQM expects the gathering systems to generate EBITDA of $16M in 2017, increasing to $30M in 2018.

EQT

EQT Corporation

$70.37

0.02 (0.03%)

EQM

EQT Midstream Partners

$77.19

0.23 (0.30%)

  • 27

    Oct

  • 27

    Oct

EQT EQT Corporation
$70.37

0.02 (0.03%)

08/26/16
STFL
08/26/16
UPGRADE
STFL
Buy
EQT Corporation upgraded to Buy from Hold at Stifel
08/26/16
STFL
08/26/16
UPGRADE
STFL
Buy
EQT Corporation upgraded on 'compelling' risk/reward at Stifel
As noted earlier, Stifel upgraded EQT to Buy from Hold. Analyst Daniel Guffey says that the company has a "high-quality asset base, industry-leading balance sheet, and valuable and growing midstream platform," but is trading at an 18% discount to its Appalachian peers. He thinks that the stock's risk/reward is "compelling." Target $87.
09/28/16
MITR
09/28/16
INITIATION
Target $92
MITR
Buy
EQT Corporation coverage assumed with a Buy at GMP Securities
GMP Securities analyst Karl Chalabala assumed coverage on EQT Corporation with a Buy and a $92 price target.
10/13/16
TUDR
10/13/16
DOWNGRADE
TUDR
Hold
EQT Corporation downgraded to Hold from Buy at Tudor Pickering
EQM EQT Midstream Partners
$77.19

0.23 (0.30%)

12/15/15
12/15/15
DOWNGRADE

On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advance Auto Parts (AAP) downgraded at BB&T... Affiliated Managers (AMG) downgraded to Neutral from Buy at Citi... American Axle (AXL) downgraded on lack of catalysts, potential M&A at RBC Capital... Analog Devices (ADI) downgraded to Perform from Outperform at Oppenheimer... Apache (APA) downgraded to Hold from Buy at Argus... Artisan Partners (APAM) downgraded to Sell from Neutral at Citi... Atara Biotherapeutics (ATRA) downgraded to Sell from Buy at Citi... Carlyle Group (CG) downgraded to Neutral from Buy at Citi... Cognizant (CTSH) downgraded to Buy from Conviction Buy at Goldman... Columbia Pipeline Partners (CPPL) downgraded to Sector Perform at Scotia Howard Weil... Dow Chemical (DOW) downgraded to Neutral from Buy at UBS... EQT Midstream Partners (EQM) downgraded to Sector Perform at Scotia Howard Weil... Genco Shipping (GNK) downgraded to Underweight from Equal Weight at Morgan Stanley... Golden Ocean (GOGL) downgraded to Underweight from Equal Weight at Morgan Stanley... Gulfport Energy (GPOR) downgraded to Outperform from Focus List at Scotia Howard Weil... HollyFrontier (HFC) downgraded to Sector Perform at Scotia Howard Weil... Hyatt (H) downgraded to Neutral from Buy at Citi... Jarden (JAH) downgraded to Market Perform from Outperform at Raymond James... Johnson Controls (JCI) downgraded at RBC Capital... KB Home (KBH) downgraded to Underperform from Neutral at Credit Suisse... LaSalle Hotel (LHO) downgraded to Neutral from Buy at Citi... Lexington Realty (LXP) downgraded to Market Perform from Outperform at Wells Fargo... NVR (NVR) downgraded to Underperform from Neutral at Credit Suisse... Neothetics (NEOT) downgraded to Hold from Buy at Needham... Newell Rubbermaid (NWL) downgraded to Market Perform from Outperform at Raymond James... OM Asset Management (OMAM) downgraded to Neutral from Buy at Citi... Oasis Petroleum (OAS) downgraded to Neutral from Buy at UBS... Peabody (BTU) downgraded to Underperform from Neutral at Macquarie... Range Resources (RRC) downgraded to Sector Perform at Scotia Howard Weil... Rexford Industrial (REXR) downgraded to Market Perform from Outperform at Wells Fargo... Safe Bulkers (SB) downgraded to Equal Weight from Overweight at Morgan Stanley... Star Bulk Carriers (SBLK) downgraded to Underweight from Equal Weight at Morgan Stanley... Tenneco (TEN) downgraded at RBC Capital... Verifone (PAY) downgraded to Neutral from Buy at Goldman... Verizon (VZ) downgraded to Neutral from Buy at BTIG... Waddell & Reed (WDR) downgraded to Sell from Neutral at Citi... Warren Resources (WRES) downgraded to Hold from Buy at Noble Financial... West Corp. (WSTC) downgraded to Sell from Neutral at Goldman... Zoe's Kitchen (ZOES) downgraded to Underperform from Neutral at Credit Suisse.
01/15/16
WELS
01/15/16
UPGRADE
WELS
Outperform
EQT Midstream Partners upgraded to Outperform at Wells Fargo
Wells Fargo analyst Michael Blum upgraded EQT Midstream Partners to Outperform from Market Perform and keeps a $76-$78 price target range for the shares.
01/15/16
01/15/16
UPGRADE

On The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Buy from Hold at Drexel Hamilton... Agnico Eagle (AEM) upgraded at BMO Capital... AkzoNobel (AKZOY) upgraded to Overweight from Neutral at JPMorgan... Banco Popolare (BPSAY) upgraded to Hold from Sell at Berenberg... CACI (CACI) upgraded to Outperform from Neutral at Credit Suisse... CRH (CRH) upgraded to Outperform from Neutral at Exane BNP Paribas... Colgate-Palmolive (CL) upgraded to Outperform from Neutral at Exane BNP Paribas... Compania Cervecerias (CCU) upgraded to Buy from Neutral at Goldman... DCP Midstream (DPM) upgraded to Outperform from Market Perform at Wells Fargo... EQT Midstream Partners (EQM) upgraded to Outperform at Wells Fargo... Electronic Arts (EA) upgraded to Buy from Neutral at BofA/Merrill... Esterline (ESL) upgraded to Outperform from Neutral at Credit Suisse... Gilead (GILD) upgraded to Neutral from Underperform at BofA/Merrill... Gold Fields (GFI) upgraded to Neutral from Sell at Goldman... H&E Equipment (HEES) upgraded to Buy from Neutral at Longbow... Huntington Ingalls (HII) upgraded to Neutral from Underperform at Credit Suisse... JPMorgan (JPM) upgraded to Overweight from Neutral at Atlantic Equities... Lennar (LEN) upgraded to Buy from Neutral at UBS... Marketo (MKTO) upgraded at RBC Capital... Masco (MAS) upgraded to Buy from Neutral at UBS... Microchip (MCHP) upgraded to Buy from Hold at Needham... Mosaic (MOS) upgraded to Neutral from Sell at Goldman... NV5 Global (NVEE) upgraded to Accumulate from Neutral at Seaport Global... Nokia (NOK) upgraded to Buy from Hold at Argus... On Deck Capital (ONDK) upgraded to Neutral from Sell at Compass Point... PBF Energy (PBF) upgraded to Overweight from Equal Weight at Morgan Stanley... Plantronics (PLT) upgraded to Overweight from Neutral at JPMorgan... Shire (SHPG) upgraded to Buy from Neutral at BofA/Merrill... Sirius XM (SIRI) upgraded on valuation at BMO Capital... Spectra Energy Partners (SEP) upgraded on valuation at RBC Capital... Spirit AeroSystems (SPR) upgraded to Outperform from Neutral at Credit Suisse... United Rentals (URI) upgraded to Buy from Neutral at Longbow... Webster Financial (WBS) upgraded to Buy from Neutral at Guggenheim... WhiteWave (WWAV) upgraded to Overweight from Equal Weight at Barclays.
02/25/16
MSCO
02/25/16
INITIATION
Target $83
MSCO
Equal Weight
EQT Midstream Partners initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Tom Abrams initiated EQT Midstream Partners with an Equal Weight rating and $83 price target on shares.

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