On Friday Summit Midstream Partners, LP (NYSE:SMLP) stock recorded daily change of -4.95% to close at $4.42 with the total traded volume of 723596 shares along average volume of 295605 shares 52 week range of the stock remained $ ISTR – 15.98 while its day low price was $4.05 and its hit its day high price at $4.56. Its previous closing value stands at $4.65. SMLP total market capitalization is $365555575. Currently stocks EPS is $0.06 while its price to earnings ratio is 75.68
On Nov. 8, 2019, Summit Midstream Partners, LP (NYSE:SMLP) disclosed its financial and operating results for the three months ended September 30, 2019, including adjusted EBITDA of $72.0 million, DCF of $41.7 million, and a quarterly distribution coverage ratio of 1.75x. SMLP reported a net loss of $10.6 million in the quarter, which included a $16.2 million non-cash expense related to the impairment of goodwill on the Mountaineer Midstream system, due to a more tempered near-term outlook for the Marcellus Shale reportable segment. Net loss, adjusted EBITDA and DCF were negatively impacted by approximately $3.9 million of extraordinary remediation expenses and operational downtime in the Williston Basin segment during the quarter.
Heath Deneke, President and Chief Executive Officer, commented, Excluding the remediation expenses and operational issues in the Williston Basin segment, third quarter of 2019 results were in line with expectations and reflected volumetric growth and drilling activity consistent with our expectations from last quarter. Volumes increased sequentially across six of our eight reportable segments, and we expect this trend to continue across many of our gathering and processing systems through the end of the year, with another 40 new well connections scheduled in the fourth quarter. Taking into account the Williston Basin issues experienced in the third quarter, we now expect full year 2019 adjusted EBITDA to be around $290 million.
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