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ETRN - Why These Ultra-High-Yield Dividend Stocks Are Tanking Today
Equitrans Midstream Corporation
Equitrans Midstream (NYSE: ETRN) and its MLPEQM Midstream Partners(NYSE: EQM) both tumbled more than 10% by 2 p.m. EST on Thursday. Fueling the sell-off in these two high-yielding midstream companies was the announcement of a series of strategic actions to simplify their structure and strengthen their financial profile.
Equitrans Midstream and EQM Midstream announced several transformative steps to improve their financial foundation. These included: