Summit Midstream Partners, LP (NYSE:SMLP) changed 3.41% to recent value of $0.85. The stock transacted 499619 shares during most recent day however it has an average volume of 650.46K shares. It spotted trading -90.16% off 52-week high price. On the other end, the stock has been noted 69.70% away from the low price over the last 52-weeks.
On May 08, 2020, Summit Midstream Partners, LP (NYSE:SMLP) reported its financial and operating results for the three months ended March 31, 2020, including net income of $5.3 million, adjusted EBITDA of $66.1 million and DCF of $34.2 million. Operated natural gas volume throughput averaged 1,281 MMcf/d and liquids volume throughput averaged 98 Mbbl/d in the quarter. Natural gas volume throughput benefitted from the on-time commissioning of a five-well pad site behind our Utica Shale gathering system in mid-March 2020. This pad site is generating aggregate production rates in excess of 160 MMcf/d, which exceeded the expectations set forth in our original financial guidance by more than 15%. We expect this system will be a growth driver for us over the next several quarters as natural gas forward pricing has strengthened in the second half of 2020 and will incentivize upstream activity in this and other natural gas-focused basins in which we operate.
Heath Deneke, President and Chief Executive Officer, commented, We are operating in unprecedented times given the prevailing commodity price backdrop and COVID-19 pandemic. As a result of the current environment, many of our customers have updated their forecasts to reflect the steps they are taking to reduce capital budgets, delay and defer drilling and completion activities, and on a limited scale, temporarily curtail existing production. On May 3, 2020, we released updated 2020 adjusted EBITDA and capital expenditures guidance that was based on revised customer information. As previously reported, we expect our 2020 adjusted EBITDA to trend towards the low-end of our original $260 million to $285 million guidance range and for our 2020 capital expenditures range to be down by 33% at the midpoint. We will continue to monitor our customers’ month to month decisions regarding to what extent, if any, curtailments of production will continue beyond May 2020 and we will continue to work aggressively to find ways to further reduce operating expenses and capital expenditures. I’m proud of how quickly our employees have adapted to the current environment, while maintaining their commitment to operate safely, effectively and focus on initiatives that are within our control.
SMLP has a gross margin of 63.70% and an operating margin of 8.90% while its profit margin remained -89.80% for the last 12 months. Its earnings per share (EPS) expected to touch remained 147.60% for this year.
The company has 98.94M of outstanding shares and 40.67M shares were floated in the market. According to the most recent quarter its current ratio was 1.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.80% from the mean of 20 days, -10.14% from mean of 50 days SMA and performed -75.35% from mean of 200 days price. Company’s performance for the week was -31.02%, 25.35% for month and YTD performance remained -74.37%.