On Friday, EQT Corporation (NYSE:EQT)’s shares declined -2.61% to $74.28.
EQT Midstream Partners, LP (EQM) and EQT GP Holdings, LP (EQGP) declared second quarter 2015 financial and operating results. EQT Midstream Partners (EQM) net income for the quarter totaled $91.3 million, adjusted EBITDA was $110.5 million, and distributable cash flow was $102.8 million. EQM adjusted operating income was $99.8 million, or 43% higher than the same quarter last year. The non-GAAP financial measures are reconciled in the Non-GAAP Disclosures section of this news release.
EQT GP Holdings, LP (EQGP) owns a 30.2% limited partner interest and 2% general partner interest, together with 100% of the incentive distribution rights in EQM. EQGP accomplished its initial public offering of 26.45 million common units on May 15, 2015. Net income attributable to EQGP for the second quarter totaled $28.7 million.
Q2 Highlights:
- Declared agreement to construct natural gas header pipeline for Range Resources
- Accomplished the east side expansion project for Antero Resources
- Increasing EQM distributable cash flow guidance for 2015 to $390 – $400 million
EQT Corporation, together with its auxiliaries, operates as a natural gas company in the United States. It operates in two segments, EQT Production and EQT Midstream. The EQT Production segment explores for, in addition to develops and produces natural gas, natural gas liquids (NGLs), and crude oil primarily in the Appalachian Basin. As of December 31, 2014, it had 10.7 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across about 3.4 million gross acres, counting about 630,000 gross acres in the Marcellus play.
LendingClub Corp (NYSE:LC)’s shares dropped -1.55% to $14.60.
At CGI America, President Bill Clinton declared a Commitment to Action between Lending Club (LC), the world’s largest online marketplace connecting borrowers and investors, and Opportunity Fund, a national leader in community-based lending to small businesses.
This pilot program is intended to provide up to $10 million in loans to small businesses in underserved areas of California, assisting an estimated 400 businesses create 1,000 jobs, based on historical impact data collected by Opportunity Fund. The partnership was developed as part of the Community Investment Working Group.
Access to capital for entrepreneurs plays a key role in economic mobility, job creation, and the health of the middle-class, but bank lending to small businesses has failed to recover from the 2008 recession. According to FDIC data[1], while bank commercial loans of $1 million or more have raised by 47% from 2007 to 2014, loans of $100,000 or less have actually fallen by 9%. According to Opportunity Fund, minority communities and women entrepreneurs are particularly underserved, exacerbating disparities in wealth and opportunity.
LendingClub Corporation operates as an online marketplace for connecting borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, counting unsecured personal loans, super prime consumer loans, unsecured education and patient finance loans, and unsecured small business loans.
At the end of Friday’s trade, T-Mobile US Inc (NYSE:TMUS)‘s shares dipped -1.40% to $37.40.
As T-Mobile’s [ TMUS] breakthrough new ‘Mobile without Borders’ launches in stores and online recently extending Simple Choice coverage and calling across North America at no extra charge, MetroPCS, the Un-carrier’s flagship prepaid brand, is joining in the cross-border fun. Recently, T-Mobile launched MetroPCS Mexico Unlimited®, building on the same philosophy and partnerships behind ‘Mobile without Borders’ but tailored for MetroPCS customers. Mexico Unlimited expands MetroPCS customers’ coverage and calling throughout Mexico. More than just a ‘roaming plan,’ Mexico Unlimited means MetroPCS customers can use their phones in Mexico just like they do at home and call Mexico all they want.
Even better, customers who add Mexico Unlimited to their plan on or before August 31st will get it at absolutely no extra charge until 2016 – and it’s just $5 per month per line after that.
T-Mobile US, Inc., together with its auxiliaries, provides mobile communications services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company offers voice, messaging, and data services in the postpaid, prepaid, and wholesale markets. It also provides wireless devices, such as smartphones, tablets, and other mobile communication devices, in addition to accessories, which are manufactured by various suppliers. It offers services, devices, and accessories through its owned and operated retail stores, in addition to through its Websites.
ONEOK, Inc. (NYSE:OKE), ended its Friday’s trading session with -2.53% loss, and closed at $37.69.
ONEOK, Inc. (OKE) will release their second-quarter 2015 earnings after the market closes on Aug. 4, 2015.
ONEOK’s and ONEOK Partners’ executive administration will take part in a joint conference call the following day at 11 a.m. Eastern Daylight Time (10 a.m. Central Daylight Time) on Aug. 5, 2015.
ONEOK, Inc. through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company gathers, treats, fractionates, stores, and transports natural gas liquids (NGL), in addition to owns natural gas liquids gathering and distribution pipelines, natural gas liquids distribution and refined petroleum products pipelines, and terminal and storage facilities; and owns and operates interstate and intrastate regulated natural gas transmission pipelines and natural gas storage facilities, in addition to stores and distributes NGL products to petrochemical manufacturers, heating fuel users, ethanol producers, refineries, and propane distributors.
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