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We provide the latest news from the world of economics and finance
(RTTNews) - 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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