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.”
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Read More on ETRN:
- Equitrans Midstream call volume above normal and directionally bullish
- Equitrans Midstream considering strategic options, Bloomberg reports
- Equitrans Midstream up after Bloomberg says company weighing possible sale
- Equitrans Midstream said to consider options including sale, Bloomberg reports
- Equitrans Midstream sees 2023 net income $425M-$445M
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