|Bid||0.00 x 1400|
|Ask||0.00 x 1000|
|Day's range||20.00 - 22.41|
|52-week range||7.34 - 33.63|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||51.39|
|Earnings date||28 Jul 2020 - 03 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||26.67|
Equitrans Midstream Corporation (NYSE: ETRN) and EQM Midstream Partners, LP (EQM) today announced that ETRN has completed the acquisition of all of the outstanding common units representing limited partner interests in EQM (EQM common units) that it did not already own. As a result of the transaction, EQM common units have been suspended from trading on the New York Stock Exchange. In addition, ETRN and EQM announced that EQM has completed the redemption of $600 million aggregate principal amount of outstanding EQM Series A Perpetual Convertible Preferred Units and that all remaining EQM Series A Perpetual Convertible Preferred Units were exchanged for ETRN Series A Perpetual Convertible Preferred Shares.
EQM Midstream Partners, LP (NYSE: EQM), a subsidiary of Equitrans Midstream Corporation (NYSE: ETRN), today, announced that it has priced an upsized offering of $700.00 million in aggregate principal amount of its 6.000% senior notes due 2025; and $900.00 million in aggregate principal amount of its 6.500% senior notes due 2027 (collectively, Notes). This represents an increase of $800.00 million in the combined aggregate principal amount of the Notes from the previously announced amount. EQM intends to use the net proceeds from the offering of the Notes to partially repay outstanding borrowings under its $3 billion revolving credit facility and for general partnership purposes. Subject to the satisfaction of customary closing conditions, the offering is expected to close on June 18, 2020.
EQM Midstream (EQM) saw a big move last session, as its shares jumped nearly 10% on the day, amid huge volumes.