SMLP - Why Summit Midstream Partners Shares Are Shooting Higher Today? | Benzinga
Summit Midstream Partners LP (NYSE: SMLP) shares are trading higher by around 14% after the company disclosed its external advisors are evaluating strategic alternatives for the Partnership to maximize its unitholder value, including continued execution of the business plan and asset sale, among others.
SMLP also revealed the receipt of interest from third parties for potential transactions, ranging from the sale of specific assets to consideration for the whole Partnership.
The company also provided an operational update. The company expects Q3 adjusted EBITDA of $70 million, up 20% Q/Q, and reaffirmed guidance for Q4