|Over a week ago|
EQT Midstream Partners trading resumes 14:3403/1803/18/20
EQT Midstream Partners trading halted, volatility trading pause 14:2803/1803/18/20
Largest borrow rate increases among liquid names » 08:4503/1803/18/20
NEPT, TLRY, CLR, INO, RRC, CRON, FTR, X, EQM
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Neptune Technologies (NEPT) 116.94% +5.10, Tilray (TLRY) 72.10% +3.68, Continental Resources (CLR) 8.82% +3.62, Inovio (INO) 81.38% +2.23, Range Resources (RRC) 12.84% +1.34, Direxion Daily S&P Bear (SPXS) 2.75% +1.12, Cronos Group (CRON) 30.79% +0.85, Frontier Communications (FTR) 92.38% +0.49, US Steel (X) 2.19% +0.45, and EQT Midstream Partners (EQM) 1.41% +0.42.
EQT Midstream Partners trading resumes 10:1203/0903/09/20
EQT Midstream Partners trading halted, volatility trading pause 10:0603/0903/09/20
|Over a month ago|
EQT Midstream Partners falls -24.1% » 10:0002/2702/27/20
EQT Midstream Partners is…
EQT Midstream Partners is down -24.1%, or -$5.18 to $16.33.
Equitrans Midstream acquiring EQT Midstream Partners, signs agreement with EQT » 06:5602/2702/27/20
ETRN, EQT, EQM
Equitrans Midstream (ETRN) and EQM Midstream Partners (EQM) announced the following actions and information, along with ETRN's pro forma financial and capital expenditure forecast: EQM and EQT (EQT) executed a 15-year gas gathering agreement covering Pennsylvania and West Virginia; Minimum Volume Commitment steps-up to 3.0 Bcf per day and incremental MVC increases begin with Mountain Valley Pipeline's (MVP) in-service. Present value, using 10% discount rate, of MVC revenue is approximately $2.1B higher under new 15-year gathering agreement than under prior MVCs with EQT; ETRN forecasts greater than 70% of total revenue from firm reservation fees and MVCs beginning in 2021. ETRN will purchase and retire 25.3 million shares of ETRN common stock from EQT for $52M of upfront cash, with the remaining consideration, which represents $196M PV10, to be paid through reduced gathering fees in the two years following MVP's in-service. ETRN is to acquire all outstanding public EQM common units in a 100% share-for-unit transaction, approved by the EQM Conflicts Committee, in which each outstanding public common unit of EQM would be exchanged for 2.44 shares of ETRN common stock. The Merger is expected to close mid-year 2020. ETRN intends to pay a $0.60 per share annual dividend, which allows the company to quickly de-lever and provides significant forecasted cash flow after total capital expenditures and dividends. ETRN forecasts $1.8B of cumulative free cash flow and $1.0B of cumulative retained free cash flow, over 2021-2023.
EQT Midstream Partners downgraded to Underweight at Wells Fargo » 09:1601/0701/07/20
As previously reported,…
As previously reported, Wells Fargo analyst Michael Blum downgraded EQT Midstream Partners (EQM) to Underweight from Equal Weight with a price target of $25, down from $30. The analyst cited elevated leverage, continued uncertainty regarding the timing for the in-service of Mountain Valley Pipeline given regulatory hurdles, a potential reduction in gathering revenue in light of the ongoing negotiations with EQT Corporation (EQT), and the potential for a distribution/dividend re-set if MVP is delayed further.
EQT Midstream Partners downgraded to Underweight from Equal Weight at Wells Fargo » 07:1801/0701/07/20
Wells Fargo analyst…
Wells Fargo analyst Michael Blum downgraded EQT Midstream Partners to Underweight from Equal Weight with a price target of $25, down from $30.
|Over a quarter ago|
EQT Midstream Partners upgraded to Outperform from Neutral at Credit Suisse » 07:1011/2511/25/19
Credit Suisse analyst…
Credit Suisse analyst Spiro Dounis upgraded EQT Midstream Partners to Outperform from Neutral with a price target of $30, down from $39. In a research note to investors, Dounis says shares are down over 40% year-to-date and believes the market is assigning too high a weighting to MVP's inability to enter service. He also says current trading levels present "compelling" option value, given his view that MVP should eventually come online.