|Bid||21.68 x 1000|
|Ask||21.71 x 900|
|Day's Range||21.09 - 21.89|
|52 Week Range||19.50 - 23.47|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||39.13|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||25.33|
Equitrans (ETRN) is set to acquire EQGP Holdings for $20 per unit in cash. The proposed agreement is expected to make the corporate structure of the company more comprehensive.
Equitrans Midstream Corporation (ETRN) today announced that it has entered into definitive purchase agreements with certain unitholders of EQGP Holdings, LP (EQGP) to acquire limited partner interests in EQGP (EQGP Common Units) for $20.00 per unit in cash (Private Purchases), which is a 17.5% premium to the EQGP closing market price as of November 29, 2018. The Private Purchases are expected to close on or about December 31, 2018, after which ETRN and its affiliates will own more than 95% of the outstanding EQGP Common Units.
EQM Midstream Partners LP said on Wednesday it still expected to complete the $4.6 billion Mountain Valley natural gas pipeline from West Virginia to Virginia in the fourth quarter of 2019 despite a legal opinion explaining why an appeals court vacated a water permit for the project. The U.S. Court of Appeals for the Fourth Circuit issued the opinion late Tuesday explaining why it sided with environmental groups in October and decided to vacate the so-called Nationwide Permit 12 that allows the pipeline to cross rivers in West Virginia. In the opinion, the court said the project's proposed construction methods violated a special condition put forward by West Virginia, requiring stream crossings to be completed within 72 hours.