Profile
Sector:
EnergyIndustry:
Oil & Gas MidstreamCountry:
United StatesIPO:
22 February 2010Website:
http://www.summitmidstream.comNext earnings report:
01 November 2024Last dividends:
06 February 2020Next dividends:
N/APrice
regular market | Wed, 30 Oct 2024 13:30:00 GMTDividend
Analysts recommendations
Institutional Ownership
Included in screeners
SMC Latest News
Summit Midstream Partners' acquisition of Tall Oak Midstream for $450M is set to boost EBITDA and cash flow, enhancing shareholder returns. Tensions in the Middle East and potential oil & gas price increases make Summit's domestic focus and balanced oil-gas exposure attractive. Summit's favorable valuation, with P/E and cash flow ratios significantly lower than the sector average, presents a strong investment opportunity.
HOUSTON , Oct. 1, 2024 /PRNewswire/ -- Summit Midstream Corporation (NYSE: SMC) ("Summit", "SMC" or the "Company") announced today that it and its wholly owned subsidiary, Summit Midstream Partners, LP (the "Partnership"), have entered into definitive agreements to acquire Tall Oak Midstream Operating, LLC and its subsidiaries (collectively, "Tall Oak" or "Tall Oak Midstream III") from an affiliate of Tailwater Capital LLC ("Tailwater Capital") for a mix of cash and equity consideration. This strategic acquisition marks a significant milestone in Summit's growth strategy, increasing scale in a credit and value accretive manner.
What type of business is 5740?
Summit Midstream Corporation focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. It operates natural gas, crude oil, and produced water gathering systems in four unconventional resource basins, including the Williston Basin in North Dakota, which includes the Bakken and Three Forks shale formations; the Denver-Julesburg Basin that consists of the Niobrara and Codell shale formations in Colorado and Wyoming; the Fort Worth Basin in Texas, which comprises the Barnett Shale formation; and the Piceance Basin in Colorado, which includes the Mesaverde formation, as well as the emerging Mancos and Niobrara Shale formations. It serves natural gas and crude oil producers. Summit Midstream Corporation was founded in 2012 and is based in Houston, Texas.
What sector is 5740 in?
5740 is in the Energy sector
What industry is 5740 in?
5740 is in the Oil & Gas Midstream industry
What country is 5740 from?
5740 is headquartered in United States
When did 5740 go public?
5740 initial public offering (IPO) was on 22 February 2010
What is 5740 website?
https://www.summitmidstream.com
Is 5740 in the S&P 500?
No, 5740 is not included in the S&P 500 index
Is 5740 in the NASDAQ 100?
No, 5740 is not included in the NASDAQ 100 index
Is 5740 in the Dow Jones?
No, 5740 is not included in the Dow Jones index
When was 5740 the previous earnings report?
No data
When does 5740 earnings report?
The next expected earnings date for 5740 is 01 November 2024