EQT Secures $3.5 Billion Boost: Blackstone JV To Power Midstream Expansion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 25 2024
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Source: Benzinga
EQT Corporation's Joint Venture: EQT has entered a definitive agreement with Blackstone Credit & Insurance to form a midstream joint venture, receiving $3.5 billion in exchange for a non-controlling equity interest, valuing the JV at approximately $8.8 billion.
Financial Strategy and Future Plans: The proceeds from this deal will be used to reduce debt and EQT expects to exit 2024 with around $9 billion in net debt, while also retaining rights to significant growth projects like the Mountain Valley Pipeline expansion.
Analyst Views on RSPG
Wall Street analysts forecast RSPG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RSPG is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 86.500
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Current: 86.500
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
