Equitrans downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research downgraded Equitrans Midstream to Peer Perform from Outperform without a price target. The stock rose 11% on Friday on reports of a strategic review, the analyst tells investors in a research note. The firm is optimistic that Mountain Valley Pipeline is completed and sees a sale as likely, but says takeout premiums are low in energy land and “investors may have just been paid it on Friday.”