Equitrans Midstream (ETRN:US) shares soared as much as 40% on Tuesday as the U.S. lawmakers made progress on the debt ceiling deal.

The stock has also been boosted by the rating upgrade at the investment bank RBC Capital, where analysts raised their recommendation to Outperform from Sector Perform.

According to RBC analysts, the latest debt ceiling deal draft includes language that is positive for Mountain Valley Pipeline (MVP), an under-construction natural gas pipeline. The MVP will be operated by Equitrans Midstream.

Section 324 of the bill calls for a faster “completion of the Mountain Valley Pipeline.”

“The Congress hereby finds and declares that the timely completion of construction and operation of the Mountain Valley Pipeline is required in the national interest,” it is said in the draft bill.

As the passage of the debt ceiling would accelerate the development of MVP, RBC analysts are increasingly more positive on the ETRN stock.

"We expect the market to place a higher probability that MVP is online by 2024, though the stock can remain volatile pending the MVP language remaining in the debt ceiling bill," analysts said.

Congressman Mark Green traded ETRN shares last year when he made a healthy profit in the stock in a short period of time. Rep. Green first disclosed he bought $250,000 - $500,000 worth of Equitrans shares on March 3, when the stock closed at $6.93.

About 5 weeks later, Rep. Green sold a similar amount of Equitrans but at a higher price. The difference between the ETRN price on the day of purchase and sale indicates a return on investment of roughly 20%.