|Bid||54.08 x 800|
|Ask||54.17 x 1100|
|Day's Range||53.90 - 55.60|
|52 Week Range||48.91 - 77.97|
|PE Ratio (TTM)||10.36|
|Earnings Date||Oct 25, 2018|
|Forward Dividend & Yield||4.36 (8.03%)|
|1y Target Est||68.33|
Oil prices started the day trading up on news that Saudi Arabia had reduced its production in July, but economic uncertainty driven by Turkey’s currency crisis dragged prices down later in the day
On August 3–10, midstream stock TC PipeLines (TCP) saw the highest gain on our list of energy stocks. In fact, the Alerian MLP ETF (AMLP) fell 0.6%—the second lowest decline among major energy subsector ETFs during this period, as we discussed in the previous part.
Among the top priorities for the new head of EQT Midstream Partners, veteran pipeline executive Thomas Karam, is to restart the Mountain Valley Pipeline project that has faced accelerating legal and regulatory challenges over the past week. Construction of the 303-mile pipeline through West Virginia and Virginia, including a 4-mile stretch of the Thomas Jefferson National Forest, was shut down Friday by orders of the Federal Energy Regulatory Commission.
EQT Corporation (EQT) today announced that Thomas F. Karam has been appointed as Senior Vice President and President, Midstream, of EQT, effectively immediately. Karam also assumed the roles of President and Chief Executive Officer of the general partners of EQT Midstream Partners, LP (EQM) and EQT GP Holdings, LP (EQGP) and joined each of the companies’ respective Board of Directors.
The stop-work order on the Mountain Valley Pipeline may not alter the in-service date too much, but it could up the cost of construction, according to an oil and gas pipeline analyst. FERC stopped construction after the U.S. Fourth District Court of Appeals questioned right-of-way permits issued by the U.S. Forest Service and the Bureau of Land Management in the Jefferson National Forest, where a 3.5-mile stretch of MVP will be. One analyst who closely follows pipelines, Matt Lewis of East Daley Capital Advisors in Colorado, believes the delays will only be short-term.
A $3.7 billion pipeline in America’s biggest shale gas play could be rerouted after a federal agency ordered all work on the project to stop. In a rare move, regulators on Friday ordered EQT Midstream Partners LP to halt construction on its 303-mile (488-kilometer) Mountain Valley conduit, which would carry natural gas from the Marcellus basin to southern markets. The ruling, which requires agencies including the U.S. Forest Service to take a closer look at the project’s environmental impact, could lead to a “material re-route” for the pipeline, Height Securities LLC analysts Katie Bays and Josh Price said Monday in a note to clients.
Mountain Valley Pipeline, LLC released the following statement and background information in response to a project-wide stop work order issued by the Federal Energy Regulatory Commission (FERC) issued on August 3, 2018, related to the adequacy of permits issued by the U.S. Forest Service (USFS) and Bureau of Land Management (BLM) granting a 3.5 mile right-of-way in the Jefferson National Forest (JNF) for the Mountain Valley Pipeline (MVP) project.
Following EQT’s (EQT) second-quarter earnings release on July 26, its stock fell ~2%. The decline was due EQT missing the revenue and earnings estimates in the second quarter. The stock fell 8.26% on July 27. A drop in crude oil prices (DBO) on July 27 intensified the decline. Crude oil prices fell 1.32% on July 27.
Buckeye Partners (BPL), a midstream MLP involved in liquids transportation and terminaling, was downgraded by SunTrust Robinson Humphrey last week. It lowered BPL to a “sell” from a “hold” and reduced the target price to $31 from $43. Previously, Citigroup lowered the partnership to a “hold.” BPL has seen five rating updates since the start of the year, including four downgrades and one new coverage initiation.
In this article, we’ll look at production activity in the regions where Williams Partners (WPZ) has major exposure. Let’s start with the US Appalachia region, which includes the prolific Marcellus and Utica plays. Its natural gas production continued to grow in the second quarter of 2018, by 19.6% YoY (year-over-year). However, drilling activity in the Utica region has remained weak in recent months, which could be a slight concern for the company.
Delay happens as appeals court in the midst of deciding whether stay of construction should proceed or be lifted.
EQT Midstream Partners, LP today announced second quarter 2018 results, including net income attributable to EQM of $172.6 million, adjusted EBITDA of $209.5 million, net cash provided by operating activities of $220.2 million, and distributable cash flow of $174.7 million.
EQT Midstream Partners, LP , declared a quarterly cash distribution of $1.09 per unit for the second quarter of 2018. The distribution will be paid on August 14, 2018, to all EQM unitholders of record at the close of business on August 3, 2018.
EQT Midstream Partners, LP (EQM) and Rice Midstream Partners LP (RMP) today announced unitholder approval of RMP’s previously announced merger transaction with EQM. At today’s RMP special meeting of unitholders, approximately 81.8% of RMP’s outstanding common units were voted, with approximately 99.9% of those votes cast in favor of the merger. EQT Midstream Partners, LP is a growth-oriented limited partnership formed by EQT Corporation to own, operate, acquire, and develop midstream assets in the Appalachian Basin.
DALLAS , July 19, 2018 /PRNewswire/ -- Alerian announced today that Rice Midstream Partners (NYSE: RMP) is expected to be removed from the Alerian MLP Infrastructure Index (AMZI), Alerian Natural Gas MLP ...
EQT (EQT) stock started off the year on a subdued note following a drop in natural gas prices (UNG). The stock has been rising recently but has stayed low compared to year-ago levels. On a year-over-year basis, EQT (EQT) has fallen ~10%. Meanwhile, natural gas prices have declined ~7.1% in the same period.
DALLAS , July 13, 2018 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce an upcoming interim change to the constituents of The Cushing ® MLP Market Cap Index (the "Index"). ...
DALLAS , July 13, 2018 /PRNewswire/ -- Swank Capital, LLC and Cushing ® Asset Management, LP announce an upcoming interim change to the constituents of The Cushing ® 30 MLP Index (the "Index"). ...
LONDON, UK / ACCESSWIRE / July 12, 2018 / If you want a free Stock Review on FI sign up now at www.wallstequities.com/registration. Losses were broad based as eight out of nine sectors finished the trading session in red. WallStEquities.com has initiated research reports on the following Oil & Gas Pipelines stocks: EQT Midstream Partners LP (NYSE: EQM), Frank's International N.V. (NYSE: FI), Pembina Pipeline Corp. (NYSE: PBA), and Shell Midstream Partners L.P. (NYSE: SHLX).
EQT Midstream Partners, LP and EQT GP Holdings, LP will host a joint teleconference with security analysts on July 26, beginning at 11:30 a.m. ET. Topics of the teleconference will include financial and operational results, and other matters, with respect to the second quarter 2018.
EQT Corporation will host a teleconference with security analysts on July 26, beginning at 10:30 a.m. ET. Topics of the teleconference will include financial and operational results, and other matters, with respect to the second quarter 2018.
NuStar GP Holdings (NSH) and NuStar Energy (NS) were the biggest MLP losses in the week ending June 29. They fell 10.5% and 9.2%, respectively. Last week, the decline in the NuStar duo could be attributed to the recent preferred and common unit issuances. The issuances are expected to be dilutive to the existing common unitholders. The partnership expects to use $566.8 million of the net proceeds from the issuance to repay debt and funding its growth capex.
The United States should help the natural gas industry push back against opposition by environmental groups to pipeline projects by adopting new regulations or laws that favor infrastructure, backers of the industry said at a conference this week. Suppliers in the United States, the world's biggest natural gas producer, have had a difficult time in recent years getting shipments to some regions, including fuel-hungry New England, as environmental lawsuits by states, green groups and property owners have tied up pipeline construction.
The United States should help the natural gas industry overcome environmental challenges to new pipeline projects by adjusting regulations or adopting new laws favoring infrastructure, an executive at TransCanada Corp said at a conference this week. Suppliers in the United States, the world's biggest natural gas producer, have had a harder time getting shipments to market as more environmental lawsuits by U.S. states, green groups and property owners have tied up pipeline construction.