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Equitrans Midstream Corp - Stock Quote ETRN

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Morningstar's Equitrans Midstream Corp Stock Analysis

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PREMIUM

5-Star Price

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Economic Moat

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Capital Allocation

PREMIUM

Equitrans Moves Forward With Mountain Valley Pipeline in Q1 Update; Due Online in Second-Half 2023

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

Equitrans shared as part of its first-quarter results that it plans to move forward with the Mountain Valley Pipeline (MVP) after discussions with regulators and other stakeholders. The firm now expects the pipeline to be in service in the second half of 2023 with a revised cost estimate of $6.6 billion. These estimates line up well with our own mid-2023 in-service date and $6.5 billion-$6.6 billion in costs, so we will maintain our $14 fair value estimate and narrow moat rating. We continue to believe there is substantial upside to the stock as the path forward for MVP becomes clearer and it addresses legal roadblocks.

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Equitrans Midstream Corp's Company Profile

Business Description

Equitrans acquired EQM Midstream in mid-2020, consolidating the midstream family. Equitrans now own EQM assets directly versus just unit ownership. EQM Midstream provides gathering, transmission, and water services to primarily Appalachian producers in Pennsylvania, West Virginia, and Ohio.

Contact
2200 Energy Drive
Canonsburg, PA, 15317
T +1 724 271-7600
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Hard Assets
Employees 766

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