Why Equitrans Midstream Stock Is Soaring Today
Shares of Equitrans Midstream (NYSE: ETRN) surged more than 17% by 2:30 p.m. EDT on Monday. Fueling the energy company's rally was the approval of its merger with affiliate EQM Midstream (NYSE: EQM). One of the notable moves it proposed was acquiring all the outstanding EQM Midstream units that it didn't already own in a share-for-unit exchange.