FX.co ★ Summit Midstream Gains Over Sale Of Utica Position To MPLX LP For $625 Mln

Summit Midstream Partners, LP (SMLP) has seen more than a 29 percent increase in share value Friday morning, following their sale of Utica assets to an MPLX LP affiliate. The sale, valued at $625 million, is reported to bolster the company's financial stability and enhance its credit profile.

Currently, there's a significant uptick in Summit's share values, registering a 29.5 percent increase to $25.16 from the previous NYSE close of $19.43. Over the past year, the shares have fluctuated between $13 and $26.88.