STEP Energy Services Shareholders Approve Acquisition Arrangement

An announcement from STEP Energy Services ( (TSE:STEP) ) is now available.

STEP Energy Services Ltd. announced that its shareholders have approved an arrangement involving ARC Energy Fund 8 and other parties to acquire all outstanding shares of STEP, excluding those already owned by ARC-related entities, for $5.50 per share. This arrangement, pending court approval and expected to complete by December 16, 2025, will result in the delisting of STEP’s shares from the Toronto Stock Exchange, marking a significant shift in the company’s ownership structure.

The most recent analyst rating on (TSE:STEP) stock is a Hold with a C$5.50 price target. To see the full list of analyst forecasts on STEP Energy Services stock, see the TSE:STEP Stock Forecast page.

Spark’s Take on TSE:STEP Stock

According to Spark, TipRanks’ AI Analyst, TSE:STEP is a Neutral.

The overall stock score is primarily influenced by financial performance challenges, including declining revenues and profitability pressures. While technical analysis shows positive momentum, the valuation is negatively impacted by the company’s unprofitability. The absence of earnings call data and corporate events limits additional insights.

To see Spark’s full report on TSE:STEP stock, click here.

More about STEP Energy Services

STEP Energy Services is an energy services company that specializes in providing coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing solutions. The company is known for its modern equipment and commitment to safety and quality execution, particularly in challenging environments with deeper wells, longer laterals, and higher pressures. Founded in 2011, STEP has grown into a North American service provider with a focus on innovative, reliable, and cost-effective solutions.

Average Trading Volume: 27,037

Technical Sentiment Signal: Buy

Current Market Cap: C$399.4M

See more insights into STEP stock on TipRanks’ Stock Analysis page.