Summit Midstream Partners sells Utica position to MPLX in $625M deal [Seeking Alpha]
Summit Midstream Partners, LP Common Units Representing Limited Partner Interests (SMLP)
Last summit midstream partners, lp common units representing limited partner interests earnings: 2/28 06:55 am
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Source: Seeking Alpha
38% stake in Ohio Condensate Company, and wholly owned Utica assets, to MPLX ( MPLX ) for $625M in cash. Summit Midstream ( SMLP ) said the deal will shift its portfolio to ~55% crude oil-oriented basins and reduces current net leverage by 1.5x to below 4x, moving closer to achieving its 3.5x net leverage target. The partnership said the sale marked the culmination of the strategic review process undertaken by its board that was announced in October The board also said it plans to seek unitholder approval to convert the partnership to a C-Corp at a special meeting later this year, as a conversion would "maximize value by enhancing trading liquidity, greatly expanding the universe of potential investors and optimizing the long-term tax consequences to unitholders." Recommended For You More Trending News Recommended For You More Trending News About SMLP Stock Related Stocks Trending Analysis Trending News
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News
- Summit Midstream Partners, LP Announces Asset Sale Offer to Purchase up to $215,000,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026 [Yahoo! Finance]Yahoo! Finance
- Summit Midstream Partners, LP Announces Asset Sale Offer to Purchase up to $215,000,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026PR Newswire
- Summit Midstream Partners, LP (NYSE: SMLP) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
- Summit Midstream Partners, LP (NYSE:SMLP) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Summit Midstream Partners, LP Reports First Quarter 2024 Financial and Operating Results [Yahoo! Finance]Yahoo! Finance
SMLP
Sec Filings
- 6/3/24 - Form 425
- 6/3/24 - Form 8-K
- 5/22/24 - Form 8-K
- SMLP's page on the SEC website