Shares of Summit Midstream Partners, LP (SMLP) are climbing over 29 percent on Friday morning following the sale of its Utica assets to a subsidiary of MPLX LP for $625 million in cash.
The company stated that the sale would enhance its credit profile and financial flexibility.
Currently, Summit's shares are moving up 29.5 percent, to $25.16 over the previous close of $19.43 on the New York Stock Exchange. It has traded between $13 and $26.88 in the past one year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.