EQT Announces $3.5 Billion Midstream Joint Venture with Blackstone Credit & Insurance [Yahoo! Finance]
EQT Corporation (EQT)
Last eqt corporation earnings: 2/27 06:30 am
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Source: Yahoo! Finance
managed by Blackstone Credit & Insurance ("BXCI"), to form a new midstream joint venture (the "JV") consisting of EQT's ownership interest in high quality contracted infrastructure assets: (i) Mountain Valley Pipeline, LLC – Series A, (ii) FERC regulated transmission and storage assets, and (iii) the Hammerhead Pipeline. Under the terms of the agreement BXCI will provide EQT $3.5 billion of cash consideration in exchange for a non-controlling common equity interest in the JV. The investment implies a total JV valuation of approximately $8.8 billion , or 12x EBITDA. The JV provides EQT with a large-scale equity capital solution at an accretive cost of capital. Additionally, EQT will retain the rights to growth projects associated with the assets contributed to the JV, including the planned Mountain Valley Pipeline ("MVP") expansion and the MVP Southgate project. EQT plans to use proceeds from this transaction to pay down its term loan and revolving credit facility and redeem and te
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EQT
News
- EQT Trades at Premium Valuation: Should You Bet on the Stock Now? [Yahoo! Finance]Yahoo! Finance
- EQT Co. (NYSE: EQT) was upgraded by analysts at Mizuho from a "neutral" rating to an "outperform" rating. They now have a $57.00 price target on the stock, up previously from $48.00.MarketBeat
- Early Results and Upsizing of EQM Midstream Partners, LP's Tender Offer and Consent Solicitation for Certain of its Senior Notes [Yahoo! Finance]Yahoo! Finance
- Early Results and Upsizing of EQM Midstream Partners, LP's Tender Offer and Consent Solicitation for Certain of its Senior NotesPR Newswire
- EQT Co. (NYSE: EQT) was upgraded by analysts at Sanford C. Bernstein to a "hold" rating.MarketBeat
EQT
Earnings
- 10/29/24 - Beat
EQT
Sec Filings
- 12/18/24 - Form 8-K
- 12/10/24 - Form 8-K
- 12/6/24 - Form 4
- EQT's page on the SEC website