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Friday, January 22, 2021

Summit Midstream Partners, LP [NYSE: SMLP] Announces Third Quarter 2020 Results

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Summit Midstream Partners, LP [NYSE: SMLP] has announced today the results of the third quarter of 2020. It has reported a net income of $25.6 million. Its Adjusted EBITDA for the three months ended September 30, 2020, was $59.8 million.

The company has reported the Operated natural gas volume throughput averaged 1,392 million cubic feet per day. Its liquids volume throughput averaged 69.0 thousand barrels per day for the third quarter of 2020.

Summit Midstream Partners, LP has revealed that its quarterly liquid volume throughput has declined by 9.2% from the second quarter of 2020. Its adujusted EBITDA is above the company’s expectations.

Shares of Summit Midstream Partners, LP [NYSE: SMLP] has traded up 33.33% at $1.04 during the trading session of Friday. It has a trading volume of 7.61 million as compared to the average volume of 737.48K.

In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $0.50 and a high of $5.30. It has traded up 56.00% from its 52-weeks low and traded down -85.28% from its 52-weeks high.

Turing our focus on its profitability, it has return on assets (ROA) of -11.40%, return on equity (ROE) of -60.20%, and return on investment (ROI) of 2.00%.

Summit Midstream Partners, LP [NYSE: SMLP] has market capitalization of $45.79 million at the time of writing.

The company disclosed that the volume throughput was lower in the third quarter of 2020. It is because of the shut-in of a five-well pad site through mid-August that averaged more than 150 MMcf/d once back online and the postponement of new good connections and natural production declines.  

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